Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
File Photo - Reuters
Up to 135 million jobs could be lost, and 120 million people could be pushed back into poverty in India, all of which will reduce consumer income, spending and savings, according to a new report by international management consulting firm Arthur D Little.
In a report titled “India: Surmounting the economic challenges posed by Covid-19: A 10 point programme to revive and power India’s post-Covid economy” , the consulting firm said that India is headed towards a W-shaped economic recovery with a potential GDP contraction of 10.8 per cent in FY21.
"An opportunity loss of $1 trillion is staring India in its face. For its $ 5 trillion vision, a radical economic approach is needed, centred on an immediate stimulus and structural reforms. The Prime Minister’s visionary Atma Nirbhar Bharat Abhiyan is a good start to this new approach.” said Barnik Chitran Maitra, lead author of the report and Managing Partner & CEO of Arthur D Little, India and South Asia.
India reported its first Covid-19 case on 29 January 2020, a medical student studying in Wuhan who had returned to Kerala on 24 January. Since 25 March 2020, India has been on a national lockdown with a few relaxations since 3 May 2020. As of 10 May 2020, India had reported over 65,000 cases and more than 2,000 deaths.
According to the report, the worst of Covid-19’s impact will be felt by India’s most vulnerable in terms of job loss, poverty increase and reduced per-capita income, all of which will be reflected in a steep decline in GDP.
“The government recovery programme needs to provide a comprehensive safety net for vulnerable sections and support micro, small and medium enterprises. Clear policy announcements, comprehensive safety nets and decentralized systems of governance will be essential to not only flatten the curve, but also reverse the economic trajectory” said Ashwini Deshpande, Professor of Economics at Ashoka and Director of Centre for Economic Data and Analysis (CEDA), and one of the co-authors of a counterpoint included in the report.
The report proposes a 10-point programme requiring a $280 billion of spending and investment measures which should be supported by policy reforms, and proportionate monetary and liquidity measures to secure a sustainable economic future for 1.3 billion Indians.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
Sensex and Nifty 50 saw selling interest on Friday and slumped; selling pressure could continue
Investors with a long-term horizon can consider this offer
Most AMCs have been sending out cryptic e-mails. We tell you how to read between the lines
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
Forget the tuna. The island nation will keep you full and happy with coconut, koftas and jasmine
This year, on Facebook, I saw that someone had posted a list of EASY RESOLUTIONS. I didn’t copy them down but ...
With strokes of quirky humour, Partha Pratim Deb uses pulp, terracotta, glass and discarded cloth to create ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor