-The Hindu Unless policy action ensures higher demand and growth, India will continue on the path of a K-shaped recovery In recent times, right-leaning economists have been arguing that the Government does not need to do anything with the economy and that it will revive by itself. They call those who disagree with them, doomsday merchants. These economists reason that, like after The Great Depression, the economy rebounded worldwide, and so will...
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Making decisions under stress -Anand Damani
-The Hindu The pandemic has made it more difficult for us to think rationally The COVID-19 pandemic has caused the biggest disruption to lives since the Partition in 1947 for those in India. It has caused dramatic shifts in our personal and work lives. It has, of course, caused illness and taken away many of our loved ones. It has caused many people to lose a substantial portion of their incomes. It...
More »Budgeting in a time of crisis -TCA Ramanujam
-The Hindu Keynesian economics offers guidelines for preparing the Budget The Great Depression wrecked the economies of the U.S. and Europe. In the words of Jonathan Alter, when Franklin Roosevelt became the American President in 1933, he was told: “Mr. President, if your programme succeeds you would be the greatest President in American history. If it fails, you will be the worst one”. Roosevelt replied: “If it fails, I will be the...
More »How public health boosts an economy -K Srinath Reddy
-The Hindu A stronger health system in a country can lead to better outcomes on the economic growth front When public health sneezes, the economy catches cold. Dire predictions for the post-COVID-19 global economy have come from the International Monetary Fund, which called the present crisis the worst downturn since The Great Depression. Grim forebodings for the Indian economy have been sounded by many distinguished economists and the Governor of the Reserve...
More »Size of the population susceptible to coronavirus infection is significant
Between 25th and 30th of March, 2020, the total number of confirmed COVID-19 cases in India has more than doubled i.e. from 519 to 1,251, according to the data released by the Ministry of Health and Family Welfare (MoHFW). In a span of 6 days, the total number of deaths from COVID-19 has more than trebled i.e. from 9 to 32. In a health situation like this, when the coronavirus...
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