The COVID-19 shock and the Indian economy-A cross-country comparative analysis

Ghatak, Maitreesh ORCID: 0000-0002-0126-0897 and Raghavan, Ramya (2022) The COVID-19 shock and the Indian economy-A cross-country comparative analysis. In: The Impact of COVID-19 on India and the Global Order: A Multidisciplinary Approach. Springer Nature (Firm), pp. 63-79. ISBN 9789811684715

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Abstract

To understand the economic and public health impact of the COVID-19 pandemic on India, we take a comparative cross-country perspective. As all countries were exposed to this shock and were negatively affected, a relative comparison allows us to better assess India’s performance in these dimensions. We carry out three sets of exercises. First, we discuss the economic impact of COVID-19 using key macroeconomic indicators-gross domestic product and employment. Second, we review the fiscal policy response of the government and use household and individual-level surveys to understand the heterogenous impacts of the pandemic on households in the country. Finally, we compare public health indicators across countries. The analysis suggests that India’s record with respect to other countries, including countries that are comparable in economic status, puts it in the lower tail of the distribution-both in terms of economic and public health indicators. The fallout on the poorer sections and informal sector was particularly severe and policies to mitigate this were inadequate. We conclude that going forward, improving the public health infrastructure and the social safety net must be the public policy priority for the government.

Item Type:	Book Section
Additional Information:	© 2022 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
Divisions:	Economics
Subjects:	H Social Sciences H Social Sciences > HB Economic Theory R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
Date Deposited:	17 Sep 2024 09:48
Last Modified:	20 Sep 2024 10:21
URI:	http://eprints.lse.ac.uk/id/eprint/125426

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