Business leaders suggest best ways to exit the lockdown

The coronavirus lockdown 2.0 is about to get over on May 3. Strict measures have been taken by the government to ease lockdown in a graded manner in some areas and for some services. The lockdown has not only hurt small businesses but the economy at  large. Therefore, it is necessary to ease restrictions even further. It's a tough choice between lives and livelihoods at this time. Business leaders suggest different ways of exiting the lockdown keeping in mind both safety of people and economy of the country.

Shaktikanta Das (RBI Governor)

"The mantra of coming out of the 'chakravyuh' has to also, be thought through very carefully and factored in while entering the 'chakravyuh'. So, both (entry and exit) have to be done simultaneously. Whether it relates to fiscal deficit or liquidity or any other extraordinary measure, it has to be applied in time, and the exit also has to be made in time." On the current situation, the central bank hasn't taken a view yet."

Anand Mahindra (Chairman, Mahindra Group)

"If a 'calibrated' lifting of the lockdown means sequential opening of different parts of the country, then industrial recovery will be painfully slow. In manufacturing, if even one feeder factory is still locked down, then the final product assembly will be stalled."

"Research suggests a 49-day lockdown is optimal. If true, then post that duration, I believe the lifting of the lockout should be comprehensive. Containment by exception based on widespread tracking & testing. Isolation only of hotspots & vulnerable segments of the population."

 

Raghuram Rajan (former RBI governor)

Kiran Mazumdar Shaw (Executive chairperson, Biocon)

"The government will have to restart the economy with surveillance and safeguards. Opening up the lockdown needs some lifestyle changes, which we must all adopt. The government should continue to enforce social distancing measures and must not allow large public gatherings."

Martin Wolf (Business Journalist)

"The choice is not between containing the virus or rebuilding the economy, the choice should be containing the virus and rebuilding the economy."

Rajiv Bajaj (MD, Bajaj Auto)

"I continue to believe this (lockdown) makes India weak rather than stronger in combating the epidemic. We should have kept only the vulnerable at home, closed all public spaces, and allowed the young and healthy to keep turning wheels of the economy-with due precautions, with respect to hygiene, masks, distancing, etc."