Indian Pandemic Scenario And The Production Function-Imperatives of Analytical Macroeconomic Study (original) (raw)

The Economic and Technical Factors During Coronavirus Pandemic in affected countries

2021

The pandemic coronavirus (COVID-19) which spreads through contact with an infected person has already brought a significant change in the world’s economy and human misery. It has made everything so uncertain globally. The crude oil war between two biggest exporters Saudi Arabia and Russia has also added fuel to fire. All big investment decisions are on a halt due to this uncertain situation around the globe. Not only the finance sectors are suffering but human life is at great risk which proves health is more important than wealth. However, biodiversity is blooming which can help people realize how important mother nature is for all of us which may result in new sustainable development ideas. In this crucial situation, India is a developing country, and has a very big opportunity at its doors to finally take the ultimate Make in India strategy at work. If this strategy is handled nicely during this time it would help to create more jobs for the people of the country for now and for ...

Estimating the Impact of COVID-19 on Different Sectors of the Indian Economy

Sustainable Strategies for Economic Growth and Decent Work: New Normal

The entire world economy has been shattered by the COVID-19 pandemic. Its adverse impact on different sectors of the economy has compelled the Governments and policymakers to rethink from scratch and come up with appropriate measures for all stakeholders. The disease has already triggered a worldwide recession. All businesses, irrespective of size, are facing grave challenges. The ILO (International Labour Organization) estimate reveals that a huge number of jobs will be severely impacted across the globe. According to the ILO, the COVID-19 pandemic is the most horrible disaster since the Second World War. The International Monetary Fund (IMF), on the other hand, treats the pandemic as the most terrible economic catastrophe since the Great Depression (1930). The crisis resulted in a demand-supply mismatch because of the dismantling of the nationwide transport system. On the one hand, farmers are unable to take their produce to the market, leading to a huge shortfall in supply and co...

A STUDY ON IMPACT OF COVID-19 ON THE INDIAN ECONOMY

Mukt Shabd Journal, 2021

The study is intended to emphasis the significant impact of COVID-19 a global pandemic situation on Indian economy. The economy was running as usual and suddenly at the end of the third quarter of the fiscal year 2019-20 a novel corona virus entered Indian Territory and starts to infect the peoples silently. Just within two months, it's been spread across the country, and survival gone typical in the normal course. The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. Almost all the sectors on Indian economy are badly affected due to pandemic Covid-19. Largest GDP contraction ever in FY 2020-2021 at-23% is witnessed. Also there is sharp rise in unemployment.

International Journal of Economics and Financial Issues The Impact of COVID-19 Pandemic on Different Sectors of the Indian Economy: A Descriptive Study

COVID-19 is changing the world we live in for the worst, and almost all parts of the world are stuck with hung economies and people's lockdown in their homes. This pandemic is not only taking a toll out of health care systems and peoples' lives but also its impacting world economies and resulting in job losses, business disruptions and making us head towards one of the worst times ever for people on earth. Almost, all the industries are undergoing massive declines in their businesses, and the impact is that much gigantic of this pandemic, that they are projecting worse times ahead. This paper focuses on different industries, which are most affected by the pandemic and how this results in job losses and the world economy.

Covid-19 and Indian Growth Trajectory

Journal of Development Economics and Management Research Studies, 2021

About the last one year, more than 180 nations are in the same line of threat by the disastrous pandemic of Corona Virus Disease 2019 or the COVID-19. The impact and shocks created by this on the polity, society and economy in the global level is highly overwhelming. There is high unprecedented collapse in the global supply chains. It is therefore much care is required for economic intervention in this area. It is the same fruit of globalisation which makes the issue worse and in this modern globalised world, crosscountry linkages were the major route of these supply chains. Looking much into the developing economy of India, what are the major problems and impact of the pandemic on the economy briefly elucidates as even in 2008, amidst the problem of demand shock, employment was more or less affected in the country. But now it comes to stagnation in real effect. Moreover, this issue is also a reverberation of supply shock with a simultaneous presence of subdued demand and production slowdown. That is the overall growth of the economy is grinding to a halt. It is very important to analyse the economic impact of COVID-19 on the actual and expected growth rate in Indian economy to understand how much and to what extent the pandemic worsened the existing situation of economic slowdown in the country. The need of this anomalous analysis is to be done in order to find an answer to the much debated political and economic policies of the present government in power, so it could be more a political question which is of clear righteousness. In this paper we would look more on the pragmatic need of the policy reforms to trim down the negative effect of the pandemic on the economy and to bring back the equilibrium which is clearly being traumatized. The paper also tries to explain the implication of the policy changes not only in a micro level rather concentrating on a macroeconomic perspective. It would be clear throughout the analysis that an unblemished and sturdy expansionary policy is crucial for macroeconomic management and need to be coherently coordinated with monetary and exchange rate policy for boundless impact.

CHALLENGES FOR INDIAN ECONOMY DURING COVID-19 PANDEMIC

Dr. Rahul Thakur, 2024

The COVID-19 pandemic was a great challenge to the world economy. More than half of the world population is either under severe or partial lockdown without proper health care due to the coronavirus, and economic activity across countries has either stalled or significantly decelerated, taking away millions of livelihoods. India, being a densely populated country with insufficient health care facilities, was left with no choice but to follow the policy of lockdown. The world economy is heading for a recession, and India is no exception. The COVID-19 pandemic is working its way through a highly globalized world with interconnected production networks and financial markets. The fallout of COVID-19 on the Indian economy is going to be huge because of its own lockdown, which was essential to contain the spread of coronavirus, and also because of India's integration with the rest of the world. The study explores the effects of the pandemic on several sectors of the Indian economy and the challenges to be faced post-COVID-19.

CONSEQUENCES OF COVID-19 ON INDIAN ECONOMY

Transstellar journals, 2022

The outbreak of the primary case of covid-19 was announced in the southern state of Kerala in late January 2020 resulted in a meticulous struggle in economical activities. The majority of economies will lose at the minimum 3 per cent of theirs GDP. According to the statistical analysis, about 7.3% of the Indian economy diminished which seems to be a pathetic downturn ever expected since the department started comparing GDP stats quarterly in the early 1996. It brought a huge impact in the country's demands nearly, one crore menial workers lost their livelihood and entered their motherland at once the government announced 41days lockdown on 12th May 2020. But, the global rise is predicted to hike since a calculated 2.9 per cent in 2019 to 3.3 per cent in 2020 and 3.4 per cent in 2021. Consequently, the effect of corona virus anywhere there is an emergency on the healthiness of the people, contrarily already weak economy may get a bigger bluster. Government of India be in need of persistently monitor the swiftness of growth furthermore to grant essential support and assistance to the Indian Industries. In this paper, we have portrayed the unfavourable effects of Covid-19 on the Indian economy and the theoretical ways to prevail over the crisis.

THE INDIAN SECTORAL ECONOMY IN THE FACE OF THE COVID PANDEMIC A MACRO-LEVEL ANALYSIS

Juny Khyat, 2022

The once in a century crisis like COVID-19 will have enormous ramifications for the economy. With India employing around 90 per cent of its workforce under the informal category, the impact goes beyond the economy to social issues like rising unemployment and an increase in poverty[1]. The formal and organised sectors like hospitality, civil aviation, and automobiles also have no shield and no response to the pandemic. To the serendipity, agriculture came to the rescue for the Indian economy, providing employment and enough thrust to rural households to sustain them at a bare minimum. Though agriculture and IT came to the rescue, the impact of COVID-19 on the economy is unambiguousthe worst. This blue moon incident demands appropriate Government intervention to heal the wounds it created.

The Indian Economy COVID-19 and Beyond

Economic and Political Weekly, Vol 56, No.21, 2021

Deadly and frightening as it appears, it is still too early to estimate the severity of India’s Covid-19 second wave. Unlike the transatlantic countries where it appears to have peaked, India’s second wave is still trending upwards. While the second wave is more devastating, India’s unpreparedness is evident. India needs to recognise that such pandemics will come again. It needs to diversify and secure its supply chains, vaccine output, and upgrade its poor healthcare infrastructure. The Indian economy has been badly hit by the pandemic, with one of the highest output losses amongst major economies. One of the possible reasons for this is the limited fiscal support despite a stringent lockdown, with most of the heavy lifting done through monetary measures. Going forward, its economy needs to overcome several challenges before it can return to its former high growth trajectory.

Socio Economical Condition after Pandemic in India

Global media journal, 2021

It is now clear that the global pandemic of Covid-19 will have a wider impact on the whole world. At the moment, it is very difficult to say with certainty what the outbreak of this virus will be. In such a situation, it is even more difficult to predict the impact on the international economy, politics and society due to the new corona virus epidemic. But, in today's date it is possible that we can systematically identify the potential areas of the world's major economies, which are likely to have adverse effects of this epidemic. The major reason for the atmosphere of uncertainty regarding the effect of this virus on international politics is that for any logical analysis it has to go through many stages. There are many hypotheses related to each topic, which are assessed.