Rajan rightly warns against making too many strong predictions vis-a-vis Omicron
Notwithstanding the Omicron variant and the devastation it is already causing, I think there will be a slowdown in this quarter’s activity. But it will get pushed a little further, says former RBI Governor Raghuram Rajan. That said, I would resist the temptation to say we have seen the worst and that the virus is behind us. This virus is ever morphing. Early last year, we did not imagine the extent to which Delta would be vicious and of course Omicron -- there could be variants which are far more deadly than this one. So I think we should have cautious optimism that there are, globally, sufficient pent up demand reservoirs of stimulus that the economy will still grow quite substantially. We still have to be careful in making too many strong predictions given the morphing virus.
Girish
Girish