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2022 | Buch

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Economic and Societal Transformation in Pandemic-Trapped India

Emerging Challenges and Resilient Policy Prescriptions

herausgegeben von: Prof. Subrata Saha, Mukunda Mishra, Prof. Anil Bhuimali

Verlag: Springer Nature Singapore

Buchreihe : New Frontiers in Regional Science: Asian Perspectives

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

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This book acquaints the reader with the critical changes in India’s economy and society amidst the unprecedented pandemic outbreak of COVID-19, which has been devastating by breaking all prior records of illness and fatality. The present crisis is shown to be more than an acute health hazard as it carries with it other threats associated with the economy, society, culture, psychology, and politics. The dynamic driving forces that have a significant bearing on life, space, and time are explored, providing a basis on which social scientists can understand the prevailing equations and project the unforeseen future to contribute to a policymaking mechanism. The Indian scenario presented here takes into account how the COVID-19-induced lockdown of transport services, closing of factories, and restrictions on mobilization have caused the economy to face a recession, affecting mostly the unorganized sector. Travel restrictions and quarantines affecting hundreds of millions of people have left Indian factories short of labour, causing havoc in the production system. Semi-skilled jobholders have lost their employment, and the country has witnessed the plight of large pools of migrant labourers returning on foot to their homelands hundreds of miles away with their families and belongings.

Contributors to this volume are drawn from diverse disciplines, displaying the solidarity of academic knowledge in a physically divided world. This common platform is provided to the practitioners of relevant academic disciplines under the umbrella of regional sciences – a forum for the exchange of ideas that may be effective in the sustainable management of the crisis and a way forward after it is mitigated. Thought-provoking discussions regarding different facets of the crisis are relevant not only to the current times but also to being prepared for the unforeseen post-COVID economic and societal order.

Inhaltsverzeichnis

Frontmatter

The Global Pandemic

Frontmatter

Chapter 1. India Gets Through the Waves of the Pandemic: Public Policies and Self-Care Interventions on Health at the Crossroads

Abstract

India, with its preexisting issues of economic inequalities, exclusion, dropout, malnutrition, and a range of sociopolitical unease, faces the consecutive two deadly waves of the COVID-19 pandemic. While the health hazard in the country broke all its statistics ever, the impact of the crisis extended to every corner of the society, economy, culture, and governance. This chapter aims to explore how the consecutive two waves of the pandemic are somehow different in terms of the causative organism, the knowledge of humankind about the obligate pathogens, and the management approach as well. However, India witnessed critical differences in the rate of disease spread, positivity rate, and fatality. While the death rate had been lower in the second wave, the widespread infection in the second largest populous country within a narrower span put unprecedented pressure on the health system to which the country had possibly no answer. Questions on the public healthcare policies had been raised, which the article noted; however, the authors are concerned with the other end of the balance, which is the individuals’ responsible actions. The self-urged actions of the citizens stand on reciprocity with the public policies, which had long been in the papers of the policy researchers; now, it is time to practice.

Tanmoy Sarkar, Mukunda Mishra

Chapter 2. Sustainable Green Resilience and Globalization or De-Globalization in a Post-COVID World

Abstract

Humanity is facing a series of important challenges-global warming and the pandemic being two of the most important. Consequently, sustainability and resilience have become key elements in providing a better response to the global crisis and in maintaining an equilibrium between ecology, economics, and various social domains. The analysis departs from the assumption that the economic globalization-deglobalization processes respond to more complex dynamic forces created by the economic, financial, and the most recent sanitary crisis that blocks the continuity of the economic globalization, while biodiversity is able to provide renewal and reorganization capacities for changes in social-ecosystems. All these elements bring forth a different paradigm for the future decisions of communities.

José G. Vargas-Hernández

Chapter 3. Income Insecurity, GDP, and the Future of Human Development: An Analysis for COVID-19 Period

Abstract

This study will focus on the social and economic impacts of the COVID-19 pandemic on India. In this context, firstly, the impact of the COVID-19 outbreak in the country from the start date to the present will be examined. Next, the measures that the state has already taken to manage this epidemic will be discussed. In the last part, the importance for the country to effectively manage this epidemic will be emphasized. In this context, an analysis will be carried out using the Entropy method. The findings indicate that life expectancy is the most crucial criterion for India. Similarly, GDP growth is another crucial issue in this regard. However, adult literacy rate and health expenditure have the lowest weights. It is evident that the COVID-19 pandemic has many negative impacts on life expectancy in India. This situation explains that Indian people have become very anxious about their futures since lots of people died in the country due to the COVID-19 pandemic. In this period, the governments have two different alternatives, giving importance to reducing the pandemic or taking actions to increase trade volume. These two choices create a paradox for governments as they affect each other negatively. The analysis results of this study demonstrate that the Indian government should mainly focus on the necessary ways to reduce pandemics.

Hasan Dinçer, Hakan Kalkavan, Serhat Yüksel, Hüsne Karakuş

Chapter 4. Impact of COVID-19 and Responses to It: A Comparative Study of SAARC Countries in Light of Global Experiences

Abstract

The first pandemic of the twenty-first century, COVID-19 has caused worldwide devastation. Exceptionality of this coronavirus pandemic is evident from its global spread, coincidence with the age of scientific and technological superiority of humankind, and the concerted manner of never seen before global response it receives. Studying the pandemic scenario in South Asia becomes important as it is home to one-quarter of the global population and one of the poorest regions on earth. No single member of the South Asian Association for Regional Co-operation (SAARC) was prepared to combat the pandemic when the outbreak started there in early 2020. Considerable variations in these countries’ physiography, population, society, and economy have resulted in differences in the pattern of spread of the disease, death toll from it, and in their responses to tackle it. Again these developing countries equally suffer from the stresses of unemployment, poverty, social and economic discrimination. So some comparability is there in their COVID experiences. In such context, the present study aims to perform an appraisal of the pandemic scenario in the SAARC region and discuss the progress of the member nations in combatting the disease in comparison to the various measures taken across the world.

Partha Das

Chapter 5. The COVID-19 Pandemic and Socio-spatial Inequality: A Study from the Metropolitan Area of Rio de Janeiro, Brazil

Abstract

The COVID-19 pandemic in Brazil is a catastrophe and stands out negatively around the world. Brazil is a country with the Unified Health System (SUS), which is public, has a good history in mass vaccination campaigns, produces vaccines, but the number of deaths caused by the coronavirus surpassed all the most pessimistic projections and reached more than 500,000 dead by July 2021. The state of Rio de Janeiro and its metropolitan region are part of this process. This chapter aims to analyze the diffusion of the new coronavirus in the Metropolitan Area of Rio de Janeiro (MARJ), emphasizing the city of Rio de Janeiro and its spatiality in what we call “pandemic spaces on the periphery.” A territorial inequality of impact is evidenced, which is linked to the conditions of the territory. In the areas analyzed, the absence of support from health structures is evident, as is the effects of the perversity of globalization.

Pablo Ibanez, Gustavo Mota de Sousa, Andrews José de Lucena, Heitor Soares de Farias, Leandro Dias de Oliveira, André Santos da Rocha

Differential Shock

Frontmatter

Chapter 6. Women in Pandemic: The Realities of the COVID-19 in the Darjeeling Himalayan Region

Abstract

The novel coronavirus that was first reported in the year 2019 has been unabated even in 2021. People who are in the old age category and those with comorbidities are more vulnerable to it. The Government of India had imposed a lockdown in 2020 to curb its spread. The initial decline in the number of cases in the country during February 2021 led to relaxations, which saw the mass mobilization of people for religious gatherings, elections, protests, etc. that led to the emergence of the deadlier second wave. Once again, life has been brought to a standstill by the deadly virus, with various state governments imposing lockdowns and partial lockdowns. These preventive measures put forward by the governments seldom consider the gender sensitivities and realities that significantly affect women’s lives. The lockdown and pandemic have greatly affected various spheres of life of all the women, whether it may be working, students or homemakers. This chapter tries to explore the impact of the second wave of pandemics upon the women of the Darjeeling Himalayan region under the Gorkha Territorial Administration (GTA) in the West Bengal state of India.

Bishal Chhetri, Kabita Lepcha

Chapter 7. Exacerbated Digital Education Divide and the Marginalized: Experiences from India

Abstract

Education links the individual with the socialization process and livelihoods opportunities, it works as the guiding principle of the nation-building process, and it is the beacon light for the world citizens to direct in which direction the world would change for good. Thus, education is treated as a right, and it sets the pathway for attaining the SDGs. This chapter discusses how the COVID-19 pandemic exacerbates the preexisting digital divide in India not only in its geographical perspectives but also vigorously to the underprivileged and marginalized population in India. The study is qualitative and exploratory in design which first, constructs the idea from the published sources, authentic datasets, and reports and then validates them with the field data collected through judgment sampling and expert opinion. The principle of binomial Receiver Operating Characteristic curve (ROC) from ordinal confidence rating data, through the maximum likelihood estimation, grounds the validation. The study depicts that the COVID-19 pandemic magnifies the digital education divide in the country to which the economically marginalized suffer the most. Finally, the study recommends some simple policy directions toward the resolution.

Arabinda Roy, Mukunda Mishra

Chapter 8. Human Resource Management during the Pandemic Period: Emerging Challenges for the Public Sector Employees in India

Abstract

Almost overnight, the Coronavirus (COVID-19) pandemic has transformed the work and workplaces of the public sector. Public servants are playing a leading role in response to the pandemic. Healthcare workers are keeping medical systems functioning and families safe. In the changed scenario, public sector workforces are being asked to work in new ways and new contexts. During this pandemic, both central government and state governments have announced lots of financial packages for the citizens as well as for the industries to enable them to fight against such unforeseen situations. Banking sectors are continuously working to support the government initiatives throughout this pandemic, even during the nationwide lockdown days. They are relentlessly working towards the interest of the general public in this crunch time. Line Ministries and agencies are learning how to use new technology and tools on-the-go, often alongside old procedures and processes. The public sector has become “accidentally agile,” with new procedures and protocols governing remote working, accelerated hiring processes, and fast-track mobility programs developed with unprecedented speed. Post-pandemic, governments may review and capitalize on many of the changes introduced and place them on a more sustainable footing. In the more immediate term, public employers’ task will be how to get public servants back to work safely and resume non-pandemic related service delivery. This chapter outlines what challenges are being faced by the public servants while rendering services during the outbreak; and how the government backs them to overcome. Moreover, it also aims to highlight the perceptions of these employees in balancing the work-life balance in the crisis.

Ahana Sen

New Challenges for the Indian Economy

Frontmatter

Chapter 9. Pandemic Outbreak and the Future of Poverty and Inequality Scenario: Indian Perspective

Abstract

COVID-19 has caused an unprecedented pandemic with mass civic lockdown to counter and contain spreads of the virus infections. Besides being a public health challenge, it created a spatial influence on livelihood, economic growth by hampering the entire logistic process. India had been no exception while the country had to deal with a pandemic with a struggling infrastructure in the health care sector; it had to close down all its economic activities to control the spread of the virus. As the period of lockdown got extended, questions of employment and livelihood came up with the partially paralyzed the economic activity over a long period as labour started migrating homewards, spreading the virus on the way. India observed some pessimistic estimations of the economic indicators. RBI estimated the real GDP at 6.2% from 2019 to 2020. It was declared that the GDP had dropped to 3.5%. MSME sector is in a way the backbone of the country since the largest unorganized workforce engaged in it and was estimated to lose 4.5 million US Dollar. To support low- and middle-income labour, about INR 1042500 core was transferred by the government. This chapter tries to understand and explore the linkages between two: pandemic and poverty.

Abhijit Dutta, Partha Mukhopadhyay, Madhabendra Sinha, Anjan Ray Chaudhury

Chapter 10. Healthcare Expenditure and Economic Development Dynamics in India: Experiences from COVID-19 Pandemic

Abstract

The relationship between health and development is an important topic in the field of economics. India’s new Health Policy 2017 also acknowledges this relationship. The COVID-19 pandemic has exposed the chronic underinvestment in India’s healthcare system as India’s public healthcare system is facing a severe shortage of different resources and infrastructure. The present study aims to investigate the dynamics between healthcare expenditure- public health expenditure and private health expenditure and economic growth for the period from 1999 to 2018. The Johansen cointegration test exhibits that public health expenditures, private health expenditures, and economic growth are cointegrated, implying a long-run relationship between the variables concerned. The result of the Vector Error Correction Model represents that unidirectional causality between public health expenditure and economic growth and causality running from public health expenditure to economic growth exists and another unidirectional causal relationship which runs from economic growth to private health expenditure also exists for the sample period from 1999 to 2018. Block Exogeneity Wald Test has validated the results obtained from VECM. The impulse response functions and variance decomposition reveal weak causality (Granger) link between public health expenditure and economic growth and strong causal (Granger) relationship between Domestic private healthcare expenditure and economic growth during the study period. CUSUM and CUSUM-Square Test confirm that the parameters estimated by the model are stable for the period 1999 to 2018. The study concludes that the impact of public health expenditure on economic growth is relatively small, while economic growth on domestic private healthcare expenditure is relatively strong in India during the period of study.

Subrata Saha

Chapter 11. Mapping Linkages between the Agriculture Sector, Informal Economy, and Inequality amid Pandemic

Abstract

With the onset of the COVID-19 pandemic, a substantial need to introspect the socio-economic systems of specifically the developing nations has emerged. The outbreak of informal sector crises and the health crises have compelled the developing countries to revisit their development process. The status of informal employment and the prevailing inequality amidst rapid economic growth indicate the strong presence of a dual economy in India. After highlighting the economic growth scenario during the COVID-19 pandemic, the chapter examines the status of inequality embedded in India’s capitalist structure and the agriculture sector. The chapter attempts to empirically test the plausible linkages between inequality, employment, the agriculture sector, and economic growth by performing a regression analysis to comprehend the agriculture sector’s role in explaining inequality. Finally, the chapter witnesses the deep-rooted linkages between the agriculture sector, inequality, and employment. There is a rise in disguised unemployment in the agriculture sector; the corresponding skilled and formal employment is needed to absorb all the displaced and disguised unemployed workers. The focus on skill enhancement by various government schemes and, ultimately, the absorption of people employed in the informal sector is highly recommended.

Pooja Sharma, Anjan Chakrabarti

Chapter 12. Impact of COVID-19 Pandemic on Informal Labour Market in India

Abstract

The majority of labour forces are employed in un-organized sectors, are poverty-stricken, and vulnerable in the Indian labour market. A large number of workers migrate from less developed areas of the country to industrial areas and megacities. Although the COVID-19 pandemic affected all sections of people throughout the globe, informal workers both in un-organized sectors and organized sectors in India were hit the hardest. They have become jobless, lost their income, exhausted their savings, and aggravated their poverty. Reverse migration of workers has increased the excess burden on the rural economy. The government has initiated fiscal policy and monetary policy measures to overcome the crisis posed by the pandemic. Public expenditure was increased by 10 percent of GDP for boosting activities in different sectors of the pandemic-stricken economy. The RBI reduced interest rates for the smooth functioning of the system. However, informal workers are least benefitted from these policy initiatives. The future of informal workers in India remains totally uncertain as the growth rate reached the lowest level. The scholarly can assess the overall impact of the pandemic only for the time being.

Anil Kumar Biswas

COVID-19, Governance and Policies

Frontmatter

Chapter 13. New Pandemic in India: Emerging Challenges to Governance and Responses to Overcome

Abstract

In context to the ICT-ruled globalized world, the effect of the COVID-19 pandemic situation has been changing the lifestyle like wildfire that lead the new approach of ‘work from home’, amidst which both the governments at the centre and different states are trying to tackle the situation and through managing each and every aspect of the society including every person for providing the better opportunity to live with peace and safety. In the modern complex world, every society today faces a severe socio-economic and political crisis due to this COVID-19, and there is no exception to India. This chapter focuses on three things: firstly, understanding the New Pandemic; secondly, governance before and during this Pandemic in India which includes two facets - emerging challenges during this pandemic and the opportunities coming out of this pandemic; and, finally, brings forth the author’s perception to the changing socio-economic-political dimension during this new-normal.

Jitendra Sahoo

Chapter 14. Employment Dynamics and Labor Mobility amidst COVID-19 Pandemic in India: A Critical Appraisal of ILO Recommendations

Abstract

During the outbreak of the COVID-19 epidemic, the contagion has constantly been pushing humankind into ambiguity and unprecedented problems. The rapid outreach of the COVID-19 epidemic in India accelerated a severe crisis of mobility among the migrant workers in several metropolises and towns seeking to come back to their birthplaces. This chapter would try to analyze the effect of the COVID-19 epidemic on migrant workforces in India. The exponential surge in infection among the people across the state caused the enforcement of extensive lockdown that resulted in the blocking of massive forms of mobility, downgrading of trade and business, and degradation of social relations. This work judges the dynamics of the vulnerability of domestic migrant workforces in respect of their mobility, gender, and health security in India. It is assumed that the COVID-19 infection would form a gender disparity in the production and trade fulfillment. It demands the working class to follow with relentless vigor of the International Labour Organisation (ILO) a legitimate order for social justice. It demands to establish the rights and the requirements, ends, and rights of people to be at the center of economic, social, and ecological strategies. The International Community and the International Labour Organisation have been involved in a concerted effort to challenge the ravaging humanitarian effect of the epidemic.

Siddhartha Sankar Manna

Chapter 15. India’s Tryst with the Second Wave of COVID-19: Politics and Policies at the Crossroads

Abstract

The world has been a witness to a series of viruses, be it the Spanish Flu, the Avian Flu or the 2009 H₁N₁ (Swine Flu), the AIDS Epidemic, the Ebola, and the Nipah Virus, so that the question today is not whether the world will see the outbreak of a new pandemic or not, but rather when COVID-19 virus or SARS-CoV-2 is an acute respiratory syndrome coronavirus that has taken the world by storm. In India, it is the second wave that has brought the country down on its knees. The explosive number of cases in the second wave raises an obvious question mark on handling the pandemic this time. Many reasons can be cited for the hike - from the double mutation of the virus to the politics and policies engaged by the government in coping with the second wave. It also becomes imperative to take a good look at the existing management responses and think of the road ahead.

Madhuri Sukhija

Sectoral Impact and Responses

Frontmatter

Chapter 16. Beekeeping Livelihood at Stake Amidst the Pandemic Outbreaks: A Study on the Migratory Beekeepers in West Bengal

Abstract

The COVID-19 pandemic accelerates several risks among human civilization as the virus separates lives from livelihoods. COVID-19 induced lockdown affected modern beekeeping, which is predominantly migratory in nature and also created many problems of beekeepers’ lives and livelihoods of West Bengal during the lockdown period and after that. They had faced varieties of problems in their migrated fields. Thus, this study seeks to analyze the widespread problems faced by the beekeepers of West Bengal during the lockdown and analyze the situation before lockdown, mainly based on primary data collected through the snowball sampling technique. Statistical tools have been applied for the analysis of the data. The study also offers suitable possibilities to convalesce the beekeepers during the post-lockdown period. Loss of migration period is a big issue for beekeepers regarding future production. It is essential to realize that migration is part of the beekeeping profession and awareness to all human beings for these eco-friendly and agriculture support activities that the beekeeping industry.

Anil Bhuimali, Sanghamitra Purkait, Manish Baidya

Chapter 17. Struggle of Apiculture Sector in West Bengal, India During COVID-19 Pandemic: Analyzing the Demand and Supply Sides

Abstract

Honey is the main product of apiculture. Apiculture is a part of Argo practice. Beekeeping is not only limited to honey production but also plays a vital role in providing pollination services and maintaining bio-diversity. Modern beekeeping is migratory in nature. Across India, during the lockdown phase of the COVID-19 pandemic, the beekeepers faced many difficulties with transporting, increasing, or even maintaining their production. It is challenging to balance life and livelihood. On the other hand, the government issued COVID guidelines to boost immunity through a healthy lifestyle and a nutritious diet. Honey has been highlighted again. Though advisories were to increase honey intake, the level of consumption astonishingly dropped in the national and international markets. In the present study, through a primary survey of both the parties, i.e., the beekeepers and the common people, across the state of West Bengal, the stocktaking of the ground situation was done. Likert scaling has been taken to analyze the problems faced by beekeepers. The Chi-square Tests and paired t-test have been used for testing the hypothesis. Finally, certain feasible mid-term planning and policies have been chalked out in the study to smoothly run the apiculture sector, gunning for higher production in the “new normal phase.”

Sanghamitra Purkait, Anindya Basu

Chapter 18. The Importance of Public Expenditure on Crop Production and Exports in India: An Econometric Analysis in the Pandemic Trapped Era

Abstract

Crop yield is a major concern to the farmers in many of developing economies including India. The recent protests by a large number of farmers against the Government of India’s farm bill raise the issue of crop production or export. On the other hand, from March 11, 2020, Novel Corona Virus creates global pandemic situation (according to WHO) and India is no exception. This pandemic has a significant impact on health which could emerge in the short- and long-term time horizons, necessitating early detection and careful planning to reduce the socioeconomic burden. The study examined the sector-specific dynamic impacts of crop production, export, and public spending on agriculture in India. We explore and compare the data from 1987–1988 to 2018–2019. Following the Unit root test, the estimation of cointegration for long-run relationships is carried out in this analysis. Empirical findings of VECM imply that Growth in Crop production (LC) is positively related to Export (LEX) and Public Expenditure (LPE). The study concludes that the agricultural sector’s emergence as the only area to experience positive growth can be attributed to an increase in agricultural production as a result of a favorable monsoon and targeted government expenditure in this pandemic.

Labonie Mukhopadhyay

Chapter 19. A Study on the Impact of COVID-19 on Indian MSMEs

Abstract

Micro, small and medium enterprises (MSMEs) are one of the most vital drivers of the Indian economy as the sector generates employment for more than 110 million people (approximately 23% of the total workforce in India), produces a wide variety of products, utilizes locally available resources, and ensures balanced economic growth. The sector was severely shocked by the sudden outbreak of coronavirus and the nationwide lockdown. This chapter attempts to analyze the changing pattern of the definition of MSMEs, the major problems faced by the MSMEs during the pandemic period, and the remedial measures taken up by the government to safeguard the sector. Lack of finance, supply-chain disruption, dearth of raw materials, and non-availability of workers are some of the major problems faced by the MSMEs during the pandemic. The government has taken some prompt measures like the announcement of special packages, collateral-free automatic loans, revision in the definition of MSMEs under the Atmanirbhar Bharat (Self-reliant India) scheme. The latest revision in the definition of MSMEs in July 2020 is likely to increase the sector’s competitiveness and encourage the MSMEs to carry out expansion plans. Collective efforts by the government, industry, and all the major stakeholders would be needed to rejuvenate the Indian economy.

Rajib Lahiri

Chapter 20. Indian Tourism Sector Under Siege of the COVID-19 Pandemic

Abstract

The COVID-19 pandemic has created an unprecedented breakdown in the global economy. While the quarterly growth figure of every country exhibits the impact of this economic lockdown, the intensity does not fall equally in all the sectors of an economy. UNWTO forecasted that the travel and tourism industry could be most affected by this pandemic. This is probably the biggest challenge that the travel and tourism sector is facing and need to survive, revive, and thrive for the large section of people who directly or indirectly depend on this sector. The tourism sector is termed as the sunrise sector of India due to its immense potentiality. Tourism has a strong forward and backward linkage to other sectors of an economy. According to the WTTC (2020), travel and tourism are that sectors that recover more slowly than any other economic sector. In the Indian tourism sector, 50 million jobs are at risk due to the COVID-19 crisis. In the short run, establishing a healthy and safe tourism industry is very important. Government should help tourism enterprises and take necessary measures to bring back the confidence of the tourists as well as the stakeholders in this sector.

Arunava Kumar Choudhury, Subrata Saha

Chapter 21. Invasion of the Pandemic in Indian Economy and the Government: A General Equilibrium Approach

Abstract

Underdevelopment in the third world developing economies has been one of the essential features that have made a welfare state’s role even more important. We need a strong government setup to break the curse of backwardness by using its various socio-economic policies. Again, within backward parts, few parts are ‘advanced’ in nature. Due to COVID-19, we have seen good health facilities being provided even in the so-called backward regions. So, even in the backward regions, we have seen a good healthcare system is provided. But, obviously, in a nation, there exists one strong urban manufacturing sector that plays an important, dominant role in the development of a country. All these sectors are connected, and they collectively enhance the process of development. In a welfare state, the government follows any of these two ways—the subsidies are provided either to the health and allied sectors or to the people directly to improve their standard of health and living. All these will not only help to pass through the COVID period but will also improve the human development indicators. Unfortunately, few governments have been following both these policies together. Both these forms are supposed to improve the condition of the people of the backward parts. In this paper, with the help of a three-sector general equilibrium framework, we have considered both these forms of government intervention and seen what effect they have on the economy.

Nilendu Chatterjee, Bappaditya Koley

Silver Lining in the Cloud of Uncertainty

Frontmatter

Chapter 22. Rural Livelihood Options During the Pandemic in India: Finding Avenues for Revival

Abstract

The rural population has a higher proportion of poor people, and during the pandemic, their vulnerability has increased. The main objective of this chapter is to study the challenge in rural livelihood and to understand how economic lockdown and the pandemic have aggravated the rural livelihood problem. Migration as a coping strategy is not an option for the rural workforce during the pandemic. In the absence of recent data on rural livelihood, the study is based on secondary sources and publications. The pandemic has increased vulnerability of the rural population, which will require measures that have an immediate impact on livelihood. Medium- and long-term measures are also required to reduce rural vulnerability. The role of livelihood programmes is immense for short- and long-term outcomes. The role of agriculture and allied sector in reviving the rural economy is highly important. Agriculture is the only sector that has shown resilience during the crisis and growth of this sector will not only provide income but through its linkages help to start other sectors of the economy.

Govinda Choudhury, Debjani Choudhury

Chapter 23. COVID-19 and Lockdown: Key Constraints and Surviving Strategies for the Micro, Small, and Medium Enterprises (MSMEs)

Abstract

Micro, small, and medium enterprises (MSMEs) are at the heart of our economic lives. The COVID-19 pandemic has given rise to most of the devastating economic crises of our lifetime. MSMEs are at the center of it. Social distancing, safe home, lockdown are new words in our life, but they have changed our way of life. MSMEs have seen declining demand for goods and services, resulting in a lack of working capital, unsold goods accumulation, delayed payment and cash shortage, layoffs, and eventually business. The purpose of the research paper is to study key factors that affect MSMEs during the lockdown. The paper analyzed the constraint factors concerning financing, market, technology, infrastructure, and technology. Atmanirbhar Bharat (self-reliant) will be built based on the significant contribution of MSMEs in all fields. It has been observed that the epidemic situation has changed partially or entirely in business activities, and we will have this change with the help of the fourth industrial revolution. This chapter aims to develop some strategic issues which are most relevant in this current scenario.

Arindam Metia

Chapter 24. Where Classical Ends, Keynes Proceeds: Arguments Under the Perspective of Reviving India from the Impact of COVID-19

Abstract

India has been opting for social containment measures with poor health infrastructural facilities since the last week of March 2020 to protect its citizens from the pandemic COVID-19. This timely and strict measure may help the country lessen the spread of community infection until proper medicine and vaccine reach its hand. However, such steps have miserable impacts on the economic health of the country. A trade-off has arisen between the economic health and human health of the country. We can assure one of them at the cost of others. Nevertheless, one can apprehend that this transitory shock of lockdown immediately sets an alteration in the employment profile of the country. Keynes successfully solved the great controversy in 1930 by favoring the relevance of fiscal and monetary measures to stimulate aggregate demand that could be a significant weapon to mitigate the vast unemployment that classicists had failed to alleviate. This chapter aims to identify the changes of macroeconomic variables that have been occurring during the period of COVID-19 and to revisit Keynesian prescription to see how the economy will breathe life into by following Keynesian suggestions.

Indrani Basu

Titel: Economic and Societal Transformation in Pandemic-Trapped India
herausgegeben von: Prof. Subrata Saha
Mukunda Mishra
Prof. Anil Bhuimali
Verlag: Springer Nature Singapore
Electronic ISBN: 978-981-16-5755-9
Print ISBN: 978-981-16-5754-2
DOI: https://doi.org/10.1007/978-981-16-5755-9