Indian Economy's Greatest Crisis: Impact of Coronavirus and the Road Ahead

Front Cover
Penguin Random House, 2020 - Business & Economics - 264 pages
'Desperate times call for desperate measures.' The outbreak of COVID-19 aptly justifies this expression as the world faces an unprecedented situation. But what is so unusual about the coronavirus, especially since viral attacks-H1N1, Ebola and Nipah-have taken place earlier as well? How has it affected India and the world? What are the socio-economic implications for India? How has India's response been to the coronavirus? What is more important-life or livelihood? How can India recover from the sudden economic shock caused by the pandemic? This book is an attempt to answer these and many more such questions. The coronavirus hit the world in December 2019 like a hurricane. What started as a medical emergency soon turned into an economic one. No global financial crisis has ever hit humanity as hard as COVID-19. The world, therefore, was caught ill prepared when the pandemic struck. The situation, to say the least, is worse than a war. The situation in India is no different: In terms of the number of cases reported, it is second only to the United States. This book highlights the enormity of the impact of the coronavirus pandemic on India. It critically examines the government's efforts to control the disease and mitigate its adverse effects on Indian economy and society. Making a compelling argument that an economy is not like a rubber ball, which, if dropped on a hard surface, will bounce back to its original position, the author provides incisive reasons to why economic recovery will be slow and not 'V-shaped'. He, however, cogently suggests that good governance, a robust public-health system, and clean and representative politics are key to bringing India's economy back on track.

About the author (2020)

Arun Kumar has a Ph.D. in Environmental Ecology and carries with him 8 years of experience in teaching and research in the field of Environmental Science. He has been working in a reputed organisation as a Research Associate since 2003 and has been actively involved in conducting Training Programmes in the field of Disaster Management, particularly water and climate related disasters. He specialises in Forest Fire Disasters and Flood Disaster Management. As an Disaster Management Professional trained in India and abroad, his lectures and presentations on different aspects of Disaster Management are highly appreciated. He has also many research publications on different aspects of Disaster Management and Environmental Ecology in reputed national and international journals to his credit.

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