COVID- 19 and Economic Loss of First Phase of (21- Day) Lockdown in India

Space and Culture, India

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Field Value
Title COVID- 19 and Economic Loss of First Phase of (21- Day) Lockdown in India
Creator Das, Tiken
Das, Diganta
Subject COVID- 19
Economic Loss
Net State Value Added
Economic Activity
Manufacturing Sector
Social Sciences
Description To curb Covid-19 spread, Prime Minister Narendra Modi has announced a 21-day nationwide lockdown on 23 March 2020. The present study makes an attempt to estimate the state-wise and economic activity-wise economic loss of 21- day lockdown in India. The data on Net State Value Added (NSVA) by economic activity was collected for five years from the Reserve Bank of India. It was found that the percentage of the daily loss of Net State Value Added (NSVA) was considerably higher for the states of Chandigarh, Delhi and Karnataka. The manufacturing sector was expected to be the highest loser, followed by real estate, ownership of dwelling and professional services. In absolute terms, the loss was prominent in Maharashtra, Tamil Nadu and Karnataka. It is worth mentioning here that what could be the magnitude of the impact of a complete social and economic shutdown may not be easy to estimate, but it is likely to be far more severe.
Publisher Alliance for Community Capacity Building
Date 2020-06-28
Type info:eu-repo/semantics/article
Format application/pdf
Source Space and Culture, India; Vol 8 No 1 (2020): Space and Culture, India; 21-26
Language eng
Rights Copyright (c) 2020 Tiken Das, Diganta Das

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