Economy, Pandemic and Uncertainty Challenges for India

Economy, Pandemic and Uncertainty Challenges for India
Author(s):
Vidushi Gumber
Keywords:
Pandemic, Covid 19, Economic, downturn, demand, supply, slowdown, lockdown
Abstract
The outbreak of the Covid-19 pandemic is an unprecedented shock to the Indian economy. The economy was already in a parlous state before Covid-19 struck. With the prolonged country-wide lockdown, global economic downturn and associated disruption of demand and supply chains, the economy is likely to face a protracted period of slowdown. Both policy tools come with substantial economic costs representing a trade-off between the optimal health policy tool and the economic interests of a country. Till now, as the cost of externality is very high because of absence of vaccination and treatment of this disease, the State must impose more aggressive policy in the form of near complete lockdown or in some cases complete lockdown of the economy to reduce the probability of being infected.
Article Details
Unique Paper ID: 153077 Publication Volume & Issue: Volume 8, Issue 5 Page(s): 404 - 425
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