Indian Economic Growth, Covid-19 and Business: The Way Ahead


Published On: 2022-03-24 16:46:20

Price: ₹ 500



Author: Basant Potnuru

Author Address: Associate Professor, Economics and Business Policy, FORE School of Management, B-18 Qutub Institutional Area, New Delhi-110 016 (Delhi)

Keywords: Business, determinants of growth, economic growth, macroeconomic policy.

JEL Codes: A10, E60, M21, O11.


Abstract

The prolonged economic stress caused by the pre-pandemic economic slowdown and the Covid-19 impact in India has severely challenged its future economic growth prospects. The paper investigated the best strategy to get the Indian economy back on track for faster economic development. It used macroeconomic data trends of the last two decades to identify critical determinants of growth, a sample survey of Indian business enterprises undertaken during March 21-29, 2020 to understand the initial impact of Covid-19 as well as the economic impact of the pre-pandemic policy measures of the Government of India, and multivariate regression analysis of critical factors identified through the above two steps to estimate their precise impact on growth using the RBI's macroeconomic data set for the period 1966-2018. Based on the findings, the paper concluded that aggressively promoting agricultural growth and private investment creating rural infrastructure and employment can yield the requisite stimulus for faster and sustainable economic growth.


Description

Indian Journal of Economics and Development
Volume 18 No. 1, 2022, 55-65

DOI: https://doi.org/10.35716/IJED/21069
NAAS Score: 5.15
Indexed in Clarivate Analytics (ESCI) of WoS
Indexed in Scopus
UGC Approved