Abstract
Covid-19 came as a surprise to the global community. More than 203 countries got affected. Different countries took different measures at different points of time for fighting the virus. One common action was taken by all and that was the lockdown for protecting the lives of the people and slowing down the spread of the pandemic. Lockdown by the individual country led to global lockdown. Pandemic killed more than 300 thousand people with huge global economic loss (until May 31st 2020). This pandemic turned out to be the costliest disaster in the history of mankind. COVID-19 led to slowing down of the GDP, mass unemployment, bankruptcy, migration, closure of manufacturing sectors, a complete halt of travel, trade, tourism and economy as a whole. Its recovery is going to be a real challenge. There is a huge problem of poverty, unemployment, supply chain and the absence of effective demand. Pandemic disaster is a global issue and hence solutions should also be worked out collectively by the global community. There is a need to evolve or innovate other strategies than the lockdown for a fighting pandemic by the global community.
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Annexure
Annexure
Stimulus provided by announcements in Part-1
S. No. | Item | (Rs. Cr.) |
|---|---|---|
1. | Emergency W/C Facility for Businesses, incl MSMEs | 3,00,000 |
2. | Subordinate Debt for Stressed MSMEs | 20,000 |
3. | Fund of Funds for MSME | 50,000 |
4. | EPF Support for Business & Workers | 2800 |
5. | Reduction in EPF rates | 6750 |
6. | Special liquidity Scheme for NBFC/HFC/MFIs | 30,000 |
7. | Partial credit guarantee Scheme 2.0 for Liabilities of NBFCs/MFIs | 45,000 |
8. | Liquidity Injection for DISCOMs | 90,000 |
9. | Reduction in TDS/TCS rates | 50,000 |
Sub total | 5,94,550 | |
Stimulus provided by announcements in Part-2
S. No. | Item | (Rs. Cr.) |
|---|---|---|
1. | Free Food grain Supply to Migrant Workers for 2 months | 3500 |
2. | Interest Subvention for MUDRA Shishu Loans | 1500 |
3 | Special Credit Facility to Street Vendors | 5000 |
4 | Housing CLSS-MIG | 70,000 |
5 | Additional Emergency Working Capital through NABARD | 30,000 |
6 | Additional credit through KCC | 2,00,000 |
Sub-total | 3,10,000 | |
Stimulus provided by announcements in Part-3
S. No. | Item | (Rs. Cr.) |
|---|---|---|
1. | Food Micro enterprises | 10,000 |
2. | Pradhan Mantri Matsya Sampada Yojana | 20,000 |
3. | TOP to TOTAL: Operation Greens | 500 |
4. | Agri Infrastructure Fund | 1,00,000 |
5. | Animal Husbandry Infrastructure Development Fund | 15,000 |
6 | Promotion of Herbal Cultivation | 4000 |
7 | Beekeeping Initiative | 500 |
Sub-total | 1,50,000 | |
Stimulus provided by unnouncements in Part-4 and Part-5
S. No. | Item | (Rs. Cr.) |
|---|---|---|
1 | Viability Gap Funding | 8,100 |
2 | Additional MGNREGS allocation | 40,000 |
Sub-total | 48,100 | |
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Kumar, S. (2020). Economic Impact of Covid-19 and Challenges of Recovery. In: Goyal, M.K., Gupta, A.K. (eds) Integrated Risk of Pandemic: Covid-19 Impacts, Resilience and Recommendations. Disaster Resilience and Green Growth. Springer, Singapore. https://doi.org/10.1007/978-981-15-7679-9_11
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DOI: https://doi.org/10.1007/978-981-15-7679-9_11
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