India’s Economy under Pressure from COVID-19
The article examines the negative changes in the Indian economy since the beginning of 2020 under the pressure of the COVID-19 pandemic and measures to overcome them. The increase in the number of cases, the introduction of quarantine led to a rapid reduction in production, mass unemployment, and a...
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| Format: | Article |
| Language: | English |
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Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
2020-11-01
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| Series: | Контуры глобальных трансформаций: политика, экономика, право |
| Subjects: | |
| Online Access: | https://www.ogt-journal.com/jour/article/view/688 |
| _version_ | 1797647019237441536 |
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| author | E. A. Bragina |
| author_facet | E. A. Bragina |
| author_sort | E. A. Bragina |
| collection | DOAJ |
| description | The article examines the negative changes in the Indian economy since the beginning of 2020 under the pressure of the COVID-19 pandemic and measures to overcome them. The increase in the number of cases, the introduction of quarantine led to a rapid reduction in production, mass unemployment, and a decrease in the country’s GDP. In the current emergency conditions, it became an objective necessity to increase the impact on the situation of the nation state in various forms. It took dramatic changes in the economic policy of India of the previous period, when the position of private entrepreneurship was significantly strengthened, especially in industry and services. The COVID-19 pandemic forced the government of the country, led by Prime Minister Narendra Modi, to tackle the primary challenge - to keep the country from sliding into total prolonged stagnation and at the same time to support a multimillion poverty-stricken population. The main method of the government was the policy of financial saturation of the economy through direct financial injections, as well as the direct distribution of money and food in kind among the poor. The collapse of economic activity in India in the first half of 2020 was replaced in the third quarter of this year by signs of some economic recovery. For India, according to UNCTAD, in 2021, the opportunity to attract significant foreign investment from the leading countries of the world, interested in expanding their positions in its huge domestic market, is increasing. In the context of the pandemic, India’s role in revitalizing, at the initiative of N. Modi, political and economic contacts in South Asia between SAARC members became especially significant. |
| first_indexed | 2024-03-11T15:10:15Z |
| format | Article |
| id | doaj.art-dd32624d324c4e77a50600349d831f09 |
| institution | Directory Open Access Journal |
| issn | 2542-0240 2587-9324 |
| language | English |
| last_indexed | 2024-03-11T15:10:15Z |
| publishDate | 2020-11-01 |
| publisher | Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) |
| record_format | Article |
| series | Контуры глобальных трансформаций: политика, экономика, право |
| spelling | doaj.art-dd32624d324c4e77a50600349d831f092023-10-29T15:55:28ZengАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)Контуры глобальных трансформаций: политика, экономика, право2542-02402587-93242020-11-0113510.23932/2542-0240-2020-13-5-8509India’s Economy under Pressure from COVID-19E. A. Bragina0Primakov National Research Institute of World Economy and International Relations of the Russian Academy of SciencesThe article examines the negative changes in the Indian economy since the beginning of 2020 under the pressure of the COVID-19 pandemic and measures to overcome them. The increase in the number of cases, the introduction of quarantine led to a rapid reduction in production, mass unemployment, and a decrease in the country’s GDP. In the current emergency conditions, it became an objective necessity to increase the impact on the situation of the nation state in various forms. It took dramatic changes in the economic policy of India of the previous period, when the position of private entrepreneurship was significantly strengthened, especially in industry and services. The COVID-19 pandemic forced the government of the country, led by Prime Minister Narendra Modi, to tackle the primary challenge - to keep the country from sliding into total prolonged stagnation and at the same time to support a multimillion poverty-stricken population. The main method of the government was the policy of financial saturation of the economy through direct financial injections, as well as the direct distribution of money and food in kind among the poor. The collapse of economic activity in India in the first half of 2020 was replaced in the third quarter of this year by signs of some economic recovery. For India, according to UNCTAD, in 2021, the opportunity to attract significant foreign investment from the leading countries of the world, interested in expanding their positions in its huge domestic market, is increasing. In the context of the pandemic, India’s role in revitalizing, at the initiative of N. Modi, political and economic contacts in South Asia between SAARC members became especially significant.https://www.ogt-journal.com/jour/article/view/688indiacoronavirusquarantinedecline in growth rateseconomic policy of the governmentrole of the statesigns of economic recoveryinteraction of saarc member countries |
| spellingShingle | E. A. Bragina India’s Economy under Pressure from COVID-19 Контуры глобальных трансформаций: политика, экономика, право india coronavirus quarantine decline in growth rates economic policy of the government role of the state signs of economic recovery interaction of saarc member countries |
| title | India’s Economy under Pressure from COVID-19 |
| title_full | India’s Economy under Pressure from COVID-19 |
| title_fullStr | India’s Economy under Pressure from COVID-19 |
| title_full_unstemmed | India’s Economy under Pressure from COVID-19 |
| title_short | India’s Economy under Pressure from COVID-19 |
| title_sort | india s economy under pressure from covid 19 |
| topic | india coronavirus quarantine decline in growth rates economic policy of the government role of the state signs of economic recovery interaction of saarc member countries |
| url | https://www.ogt-journal.com/jour/article/view/688 |
| work_keys_str_mv | AT eabragina indiaseconomyunderpressurefromcovid19 |