The current pandemic started as a health crisis, but has turned into an economic calamity. In its recent World Economic Outlook report, the International Monetary Fund projects a severe economic recession in 2020. Although governments around the world are providing extraordinary policy support, much still needs to be done.
However, the case of the Indian economy is different. 'The Great Slowdown' had hit the nation much before the pandemic. Most indicators of economic health were in decline or had gone into negative territory. Post-lockdown, India has become the fastest contracting large economy in the world. The cracks in the Indian banking and economic institutional framework that had appeared before the pandemic have now widened into chasms. More than ever before, the country now needs a greater systemic response and not fragmented ad hoc policy support.
Our expert speaker, who is a former Chief Statistician of India, will review the current economic condition of the country and suggest policy initiatives to help revive the economy. What role can corporates and industry associations play in the recovery? He will also discuss the role that institutions at the heart of government policy can play in this precarious situation.