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Countdown

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The first comprehensive review of the deep economic damages caused by the pandemic and lockdownPr... Read More

Product Description

The first comprehensive review of the deep economic damages caused by the pandemic and lockdownProbes the widening fissures of the Indian economy at the grassroots level through the lens of COVID-19Provides a comprehensive road map towards sustainable growth with a focus on job creation, generating demand from below and augmenting health infrastructureAnshuman Tiwari is Editor of Money9, TV9 Network. He is a highly acclaimed economic commentator, author, policy analyst and an award-winning journalist. His show 'Arthaat' at the Lallantop.com is the top-ranking weekly programme on concurrent economy. Anindya Sengupta is a public policy analyst and a student of economic history. He blogs at thetimeriver.blogspot.com and bazaarnomics.blogspot.com.The unprecedented calamity of the COVID-19 pandemic, especially a harsh lockdown, battered the Indian economy at a time when it was already grappling with a deep structural slowdown. Almost a year on, when the first signs of a tentative recovery were just visible, India was hit by a devastating second wave of the pandemic. Countdown tries to make economic sense of this disaster. As millions lost their jobs and walked back hundreds of kilometres or looked in vain for a hospital bed or oxygen, billionaires made more money than ever before and the stock markets climbed to new highs. This crisis laid bare India's extreme economic disparities. Even during the best growth years, India failed to create enough jobs or invest substantially in human development. The country's toughest economic challenge since 1947 comes at a time when her main resource, her demographic strength, is about to run out too. Countdown presents a road map for sustainable reforms that could create millions of jobs, boost demand from below and reboot the economy in time to reap the benefit of India's demographic dividend.After a devastating second wave of the COVID-19 pandemic and more than a year since the first lockdown, Countdown takes stock-how the pandemic-lockdown ravaged the Indian economy and crushed millions of dreams-and explores what could be the most sustainable way out of this calamity.India's economic rise over the past three decades has been, both, meteoric and unequal. Alongside astonishing wealth creation, Tiwari & Sengupta remind us that the free market has created social outcomes which need urgent remediation.You can always delay launching a rocket to fix last-minute problems. An economy's takeoff, however, is a different matter. Stop the clock once, and population ageing may not give you another chance to meaningfully raise the living standards of workers. It is worrying, therefore, that Sheetal, Jagat, Pervez and many other real Indians you will meet in Countdown are stuck in what the authors call a "500 rupees ($7) a day" economy. They are nowhere near the threshold where a steady rise in household savings and corporate capital formation would create a virtuous cycle of more jobs, higher incomes, and a bigger middle class. While the pandemic has no doubt been a big setback, the problems are older, and run deeper. Worse, this is the situation of those who have escaped the grinding poverty of villages, where folks like Bechelal are still stranded. Apart from being urgent and important, Countdown is also a lucid, easy read. The authors have tried to understand the motivations, hopes and fears of ordinary people. Their four-part solution has something for both job seekers like Govind and job creators like Khanduja. Non-economists can use Countdown to connect the dots, something that in a nation of 1.4 billion people can be frustratingly complex even for experts. Policymakers should read this book for insights into their central question: Can India become rich before it gets old? The clock is ticking.Countdown by Anshuman Tiwari and Anindya Sengupta weaves a compelling narrative about the calamitous impact of the Covid-19 crisis on the economy and public health in India. It highlights how the crisis exacerbated the fault lines that had already become apparent before it struck, as well as the urgent need for reorienting economic policy reflecting a vision of inclusive growth. It deftly combines anecdotes with data and storytelling with hard-headed analysis to produce a compelling account of the state of the Indian economy at the most critical juncture in its post-Independence history.

Product Details

Title: Countdown
Author: Anshuman TiwariAnindya Sengupta
SKU: BK0443129
EAN: 9789354350412

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