Description
New Century Publications Covid-19 and the Indian Economy A Sectoral Analysis by Raju G & R Vasanthagopal
Globally, mankind has experienced / been experiencing an unprecedented period of economic and health crisis due to the Covid-19 pandemic. The virus which originated in China rapidly spread to almost all countries of the world and turned out to be one of the biggest health crises in the history of mankind. The economic cost of this pandemic has already run into hundreds of billions of dollars, leading to a significant contraction in the global economy.India was one of the first countries to put up a concerted and comprehensive action plan to stop the spread of the virus and limit the number of infections. India was one of the few countries which announced a complete lockdown even before the Covid cases in the country were less than 1,000. When the medical crisis started, people demonstrated their full commitment in preventing its spread. WHO praised the efforts made by the Indian Government to fight the pandemic.During the lockdown, online schooling took off in a big way and the government introduced several measures to make online education accessible to all children. Similarly, the lockdown period also saw the growth of the gig economy and an increasing ‘work from home’ in the organized sector.Urgent and bold policy measures were needed, not only to stop the spread of the pandemic and save lives, but also to protect the vulnerable and marginalized, from economic ruin. Everyone agreed that the way forward is too uncertain. Given the unpredictable and volatile international situation, almost every country had to manage under uncertainty. Under the circumstances, the governments prepared themselves to respond to the evolving situation swiftly and effectively, and to the extent possible, in anticipation of the immediate developments.The present book contains 17 research articles which provide deep insights regard the impact of Covid-19 on various sectors of the Indian economy. Authored by distinguished scholars, the contributions are valuable additions to the existing literature on the subject.