COVID - 19: Changing Dynamics around the Globe
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The document discusses the financial impact of COVID-19 on India. It notes that the Confederation of All India Traders estimated a total loss of Rs. 5.5 lakh crore for the Indian retail sector during the initial 40 day lockdown. Additionally, India may lose Rs. 8 lakh crore of GDP due to the lockdown. The finance ministry has imposed restrictions on non-essential expenditures. Different groups like salaried workers, business people, industrial workers, and daily wage workers have been financially impacted. The document also discusses the Indian model of economy and principles of economist J.K. Mehta which focus on employment, self-reliance, and minimizing wants and needs.
COVID - 19: Changing Dynamics around the Globe
- 1. COVID – 19 Changing Dynamics around the Globe
- 2. COVID – 19 Changing Dynamics around the Globe Dr. Alok Kumar Chakrawal Professor Department of Commerce and Business Administration Saurashtra University, Rajkot – 360 005 [email protected]
- 7. COVID-19: Financial Impact on India • Confederation of All India Traders (CAIT) has estimated a total loss of Rs. 5.50 Lakh crore during 40 days lockdown period Source: Business Today https://www.businesstoday.in/current/corporate/indian-retail-sector-lost-rs-55-lakh-crore-in-40-days-of--lockdown-cait/story/402916.html
- 8. COVID-19: Financial Impact on India •India may lose Rs. 8 lakh crore of GDP to lockdown# Lockdown 1.0 Source: Deccan Herald https://www.deccanherald.com/business/business-news/coronavirus-india-may-lose-rs-8-lakh-crore-of-gdp-to-lockdown- 822676.html
- 9. COVID-19: Financial Impact on India •Finance ministry imposes expenditure restrictions on non-essential heads Source: Times of India https://timesofindia.indiatimes.com/business/india-business/covid-19-finance-ministry-imposes-expenditure-restrictions-on- non-essential-heads/articleshow/75054054.cms
- 10. COVID-19: Financial Impact on India •With no reimbursement, get ready to pay more tax Source: Financial Express https://www.financialexpress.com/money/income-tax/covid-19-lockdown-with-no-reimbursement-get-ready-to-pay-more- tax/1940896/
- 14. Salary Vs. Wages
- 15. COVID – 19: Personal Finance Salaried Class Business People Professionals Industrialists Industrial Workers Daily Wages Workers Retailers Street Hawkers
- 16. Indian Model of Economy Employment Creation is the key Self Reliant Economy Cooperative and collective business model Swadeshi economy Trusteeship model of Mahatma Gandhi Following principles of J. K. Mehta’s Economics
- 17. J. K. Mehta 1901 – 1980 The Global Indian Philosopher
- 19. J. K. Mehta’s Economic Principles Human behavior is the subject matter of the science of Economics It is generally the result of a state of disequilibrium of human mind Disequilibrium is due to more pain than pleasure Moving towards Wantlessness Minimize your needs and aspirations Maintain your self contentedness