COVID-19 pandemic

The NCRB data on suicides by daily wage earners underscore the social structural determinants of mental well-being.

The COVID-19 pandemic has been an unprecedented exogenous shock in the world economy unlike the global financial crisis in 2008, which was endogenously determined in the structure of capitalist financial market. Given the fact that Indian export sector significantly contributes to the Indian economy in general and employment in particular, it is worth examining how the Indian gross domestic product and exports changed in comparison with the world GDP and world exports respectively, in the first year of the COVID-19 pandemic in 2020–21 vis-à-vis the GFC in 2008. Which industries are affected the most, in terms of export loss, during this COVID-19 crisis? What have been the consequences of these falling export on employment and earnings in the Indian export sector? This study estimates that in the COVID-19 year 2020–21, Indian exports have fallen by `3.74 lakh crore, with a plausible loss of direct employment by 5.06 lakh and an estimated loss of earnings around `12.4 thousand crore across 85 commodities.

The objective of this paper is to understand the core recommendations of the Fifteenth Finance Commission in the context of COVID-19 pandemic. Given the macroeconomic uncertainties and rising fiscal needs, the commission focused on fiscal stability, equity and enhancement of fiscal space through higher borrowing with a fiscal exit plan for both union and states.

The pandemic has led to the loss of many livelihoods due to the economic crisis. In order to curb the ongoing economic crisis from aggravating further, an international fiscal coordination worldwide is the need of the hour.