Discussions held on economic challenges amid pandemic and alternate measures by GoI
14 April 2021: As the country battles the second wave of Coronavirus and subsequent partial lockdowns, fear looms large upon the revival of the economy in the aftermath of the pandemic. Catching on the sentiment of the nation, GITAM (Deemed to be University) hosted a webinar titled “After the Pandemic: How can India’s Economy Recover?” under their newly launched initiative”, ‘The Changemakers’. The session threw light on the alarming situation and drew stimulus on future, in the presence of the guest speaker, Mr. Amitabh Kant CEO, NITI Aayog and moderated by Ms. Nidhi Razdan, visiting faculty, Kautilya School of Public Policy & Former Executive Editor, NDTV 24×7.
The session delved into the critical aspects of the pandemic, as Mr Kant stressed on the effect, the mini lockdowns on the off-shoots of economic growth that the country is beginning to display. He touched upon the criticisms faced by the government for failing to support the private sector with vaccines and added, India is moving towards a protectionist economy with the Atmanirbharbharat initiative. Ever since the pandemic hit the country, the government was tested with insurmountable situations, with 1.25 billion people banking on their decisions.
Speaking about the second wave of COVID, Mr Amitabh Kant, CEO, NITI Ayog said, “I think the best stimulus the government can give, is to ensure the use of masks and fast-track stage 2 testing, tracing, and isolation. The solution to India’s constant economic growth does not lie only in providing stimulus because we have constraints such as inflation. Therefore, we should push for better discipline among the people of India and immunization drives which is unprecedented in Indian history. The aim should be to limit severe diseases and deaths.”
Shedding light on the role of government, he expressed that the government was not here to play a large part in businesses, but rather as a body to provide support. Petroleum prices and focus on driving growth were highlighted and thrust was laid on raising investments from the private sector, as the need of the hour.
The Changemakers series is an effort to bring forth credible newsmakers and eminent personalities from the field of policy, sport, entertainment, welfare and more every month, to discuss the prevalent national and global issues and encourage a solution-oriented discourse. With an intent to help undergraduate and graduate students to draw inspiration from the experiences of these speakers, the institution aims to create a thriving space to promote exchange between those who have contributed immensely to their field and the students.
The question-answer session saw prompt participation from the students of GITAM (Deemed to be University), as Mr Kant shared his perspective on lockdowns, the country’s decision to sell public sector units, manufacturing potential and eligibility of reservations.