This book analyses the economic and social impact of the Covid-19 crisis with special focus on India. It examines the economic disruption caused by the pandemic, policy responses to it and the prospect of a severe global recession. It also covers how the pandemic has contributed to considerable suffering among the masses and affected socio-cultural relationships, behavioural patterns and psychological attitudes governing human interaction.
A topical and timely collection on the pandemic, the essays in the volume discuss several key themes which include,
· The Corona pandemic and the changing global economy; growth, trade and macroeconomic recovery;
· Public health and policy failures; appropriate policy response;
· Impact on education; guidelines for the future;
· Idea of economic herd immunity; impact of India’s lockdown, crisis of the migrant labourers;
· Impact on agriculture, industry, firms, households and the informal sector;
· Implications of digital technology for production, labour and labour relations;
· Violence amidst the virus; Covid 19 and Hindu- Muslim conflict in India, domestic violence, questions of occupation, identity, gender and vulnerability;
· De-globalisation and environmental challenges in the post-Covid era.
Engagingly written, this comprehensive volume compiles original research by leading economists from India and abroad. It will be useful for scholars and researchers of economics, of the Indian economy, development economics, development studies, labour studies, public policy, public administration, governance, sociology and political economy.
Table of Contents
1. Introduction: Corona Pandemic and the Changing Global Economy
Rajib Bhattacharyya, Ananya Ghosh Dastidar and Soumyen Sikdar
Part I: Conflicts, Trust and Society
2. The Covid-19 Pandemic and its Impact on Global Political Economy
Rajesh Bhattacharya and Ujjwal Kango
3. Riding the wave or going under? The Covid-19 Pandemic and Trust in Governments
4. India’s Lockdown
Debraj Ray, S. Subramanian and Lore Vandewalle
5. Violence amidst Virus: An Essay on Conflicts in the World and at Home in times of a Pandemic
6. Brothers in Arms? Covid-19 and Hindu-Muslim conflict in India
Anirban Mitra and Arnab Mukherji
Part II: Macroeconomic Issues and Environment
7. The Long Shadow of Epidemics
Shankha Chakraborty and Mausumi Das
8. The Macroeconomic Impact of Covid-19 on the Indian Economy: An Exploratory Framework
9. Developing Economic Herd Immunity in the Face of a Pandemic
10. COVID-19 and an Assessment of Some Policy Actions Adopted by India
11. Impact of the Coronavirus Pandemic on De-Globalization
Ranajoy Bhattacharyya, Anupriya Gangopadhyay and Abhilasha Pandey
12. Green or Brown? Global Environment in the Post COVIDian Era and Challenges for India
Part III: Sectoral Perspectives
13. Coping with COVID-19 and its Consequences: Household Adjustments in India
Arnab Mukherji and Arjun Shatrunjay
14. Firm Fragility: A Re-Interpretation in the Times of the COVID-19 Outbreak
15. Impact of COVID -19 on Manufacturing Industries in India: Networks and Trade Dependence
Partha Chatterjee and Shweta Jain
16. Measurement of efficiency loss in Indian Agricultural Sector due to COVID-19: Evidence from Rice Production
Dipyaman Pal, Arpita Ghose and Chandrima Chakraborty
17. The Pandemic and the Informal Sector of India: probable impacts and strategic intervention
Anirban Kundu, Manojit Bhattacharjee, Pratip Kumar Datta, Kasturi Sadhu and Saumya Chakrabarti
18. Covid-19 Pandemic: Implications for Widowed and Elderly Women in India
Sutirtha Bandyopadhyay and Bipasha Maity
Part IV: Health, Education and Labour
19. Policy Failure before COVID Pandemic and Options for the Government in Near Future
Arijita Dutta and Montu Bose
20. Higher Education in the Post-Covid Era : India and the World
21. Lockdowns, Migrants and the Spatial Distribution of COVID-19 Cases in India: Consequences of a "tough and timely decision"
Zakir Husain and Richa Kothari
22. Labour and the Pandemic : A Study on Work, Employment and Work Situation
Lopamudra Banerjee and Snehashish Bhattacharya
23. Covid-19 Pandemic and Migrant workers: India and the World
24. The Future of Labor Segmentation after COVID-19
Mélika Ben Salem
Rajib Bhattacharyya is an associate professor in economics, Department of Economics, Goenka College of Commerce and Business Administration, Kolkata, India.
Ananya Ghosh Dastidar is a professor in economics, Department of Finance and Business Economics, the University of Delhi, India.
Soumyen Sikdar is professor in economics, Indian Institute of Management, Calcutta, Kolkata, India.
"The Covid-19 pandemic has had far reaching social and economic consequences that are almost certainly greater in magnitude than earlier disruptive events such as the financial crisis of 2008 and the fall of the former Soviet block which dot our collective memory. This book is a timely look into the economic and social impact of the pandemic in the Indian context which also includes some forward looking analysis."
- Sumon Bhaumik, Chair in Finance at the University of Sheffield, UK and Research Fellow at IZA - Institue of Labor Economics, Bonn, Germany
"Including in-depth studies on the impact of the Covid-19 crisis on health, economy, education, jobs, gender- relations and society, this timely book is greatly welcomed for its uniquely exhaustive and contemporary analysis of the crisis in India, the complex transformations underway, their implications for the future, and related policy challenges."
- Sukti Dasgupta, Chief, Employment and Labour Market Policies, International Labour Organization (ILO), Geneva
"The carefully curated set of articles in this book provides a comprehensive analysis of the socio-economic impact of the pandemic. The chapters written by leading field experts do a deep dive into many of the pandemic related questions the world is grappling with. It is a must have for both researchers and policymakers.”
- Chetan Subramanian, Professor in Economics & Social Sciences & Dean, IIM Bangalore Chair of Excellence, IIM Bangalore