Ujjain: Although the parameters like consumption, production and investment have increased after the second wave of the Covid-19 and the Indian economy seems to have recovered from the two waves of pandemic apparently, the underlying inequalities have been accentuated due to these shocks.
The rural- urban disparities, the class inequalities and the digital divide have widened.
Dr OP Shukla, principal, National Defence Academy, Pune said so while speaking as the invited speaker under Prof Tapan Chourey Prabodhan Vyakhyan Series organised by School of Studies in Economics, Vikram University in collaboration with Tapan Chourey Foundation.
Speaking on ‘Covid-19 Pandemic and Recovery of Indian Economy,’ Dr Shukla reiterated that the growth in industrial sector is selective and there is still a dearth of labour in some industries as the migrant labourers have settled in their native places. There has been a paradigm shift in the business and trade which requires a different kind of skillset in some cases and so a mismatch in the demand for and supply of skills is evident in the labour market. Unemployment is still one of the major issues haunting the Indian Economy and the consumer sentiment and Sensex peaks can fade off any moment. It is only the employment which can sustain the circle of potential growth.
He also remarked that amid the multiple problems and severe lockdowns the primary sector fuelled the growth engine and the efforts being made on the governmental level for labour welfare and credit supply are laudable. The economic policies should be viewed in the context of the 2025 prosperity vision and not through a microscopic lens.
In his presidential address, Dr Akhilesh Pandey, vice-chancellor of Vikram University, said that unprecedented pandemic and lockdowns have changed the economic trade relations world over and the Indian Economy cannot be viewed in isolation as the global supply chains disruptions have changed the production and investment profiles at home. Therefore, academia and research scholars should be more inclined towards exploring the new dynamics and the recent trends in the economy for theorising.
A book written by Dr Sunil Chaudhary, assistant professor of economics, Government College, Mahidpur on his post-doctoral research work supervised by professor Tapan Chourey was released by the guests. Dr SK Mishra, head of the department, gave welcome address. Dr Neeta Tapan, president of Tapan Chourey Foundation gave the thematic introduction. Dr Deepa Dwivedi conducted the programme while Dr Sangram Bhushan proposed a vote of thanks.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)