27 SEP,2020 | MEDC
The Prime Minister has rightly questioned the efficacy of a few days of local lockdown every now and then in combatting the pandemic. A better approach would probably be to strictly enforce the lockdown in containment zones. The economy is floundering due to high unemployment and stagnant economic demand, and such lockdowns will only aggravate the situation. The World Bank estimates that Covid could push up to 100 million people into extreme poverty, and India is particularly vulnerable to such dire predictions. With six million youth entering our workforce every year, a systematic unlocking of the economy is not optional. If the pace of economic activity does not pick up fast enough, it could depress demand and contribute to an acceleration of the vicious circle of poverty, from which escape will become increasingly difficult. There is no easy way out, but to invest heavily in infrastructure to jumpstart economic growth. Public health certainly matters, but so does restarting economic activity.
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