Soumyen Sikdar – författare

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.

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.

The majority of economists today are opposed to allowing governments a significant role in economic affairs. In particular, demand management and redistributive policies are frowned upon, and supply-side policies (that concentrate on enhancing the profitability of business operations) are advocated as the only legitimate channels of government action. The possibility of ‘government failure’ in the economic sphere is endlessly emphasised.

The book argues that this view is only partially correct, at best. To make development inclusive and sustainable over the long run, the state must step in as an active enabler and regulator of private initiative. In a good society, the public–private relationship should be complementary, not adversarial. The enabler–regulator duty of the government cannot be effectively discharged with only supply-side and monetary instruments. Well-designed, effectively implemented fiscal action is indispensable for promoting social welfare with its twin aspects of efficiency and distributive justice.

Within a short compass, the strengths and limitations of tax expenditure policies in managing the economy are discussed in non-technical language, keeping the ‘government failure vs market failure’ debate as a focal point.

The majority of economists today are opposed to allowing governments a significant role in economic affairs. In particular, demand management and redistributive policies are frowned upon, and supply-side policies (that concentrate on enhancing the profitability of business operations) are advocated as the only legitimate channels of government action. The possibility of ‘government failure’ in the economic sphere is endlessly emphasised.

The book argues that this view is only partially correct, at best. To make development inclusive and sustainable over the long run, the state must step in as an active enabler and regulator of private initiative. In a good society, the public–private relationship should be complementary, not adversarial. The enabler–regulator duty of the government cannot be effectively discharged with only supply-side and monetary instruments. Well-designed, effectively implemented fiscal action is indispensable for promoting social welfare with its twin aspects of efficiency and distributive justice.

Within a short compass, the strengths and limitations of tax expenditure policies in managing the economy are discussed in non-technical language, keeping the ‘government failure vs market failure’ debate as a focal point.

This book focuses on the contribution of Information Technology (IT) and Information Technology Enabled Services (ITES) in shaping the current and future global economic scenario, with a special focus on Asia, and taking into account the three broad macroeconomic dimensions — growth, sustainability and governance mechanisms. The last two decades have witnessed a structural shift in the world economy due to the tremendous growth in gross domestic product share for the service sector; in fact, service has emerged as the dominant sector and the main driver of GDP growth. This is mainly attributable to the spectacular success of the IT sector in the new knowledge economy. Tradability, technology and transportability – the three T’s – govern productivity growth in today’s services. Growing Asian economies such as India, China and Vietnam, using their demographic advantages, have been reaping the benefits of this boom.

The book’s content focuses on recent debates and discussionsconcerning the issue of long-term sustainability and governance, especially in India, as these companies are facing continuous challenges in terms of international competition, salary inflation, health hazards, scarcity of talent, employee attrition, security concerns, global slowdown and many other technology-related issues. The book further highlights how the increased application of IT-based products and services is resulting in harsh inequalities concerning income distribution in many developing countries of Asia, mainly because of its labor shedding nature, and hence might be detrimental to sustainable development, if suitable policy measures are not implemented to counter these effects.

The book provides a wealth of information for researchers, graduate students and political scientists alike, as well as thought-provoking insights for social scientists, policymakers and government officials. It also offers a valuable source of data for business and management professionals, and for members of Chambers of Commerce and Industry.