Gig economy - statistics

why it is grwoing
Pros and cons
Impact of covid

2. COVID : 'Black Swam" of global economy

how it impact India?

3. Slowdown in Indian economy?

Temporary

GDP-
The GDP growth of Indian Economy has touched the six year low in the first
financial quarter of April-June 2020. It touched 5.8% growth in January-March
Key sectors bearing the brunt of Indian Economy slow down are Agriculture,
Automobile, Real Estate, FMCG among others.
In April 2020, International Monetary Fund (IMF) has projected GDP growth of Indian
Economy at only 1.9%.
The $100 billion automobile industry that employs 370 lakh people and contributes
12% to the national GDP, is suffering from huge slow down. Around 3 lakhs jobs are
lost, Sales have gone down and the automobile industry appears to be going in
reverse gear.
Weaker consumer demand and slowing private investments are the two key factors
behind the Indian Economy Slow Down.
Eight core sectors have registered negative growth of just 2.1% in July

Uemployment
According to the Centre for Monitoring Indian Economy (CMIE), the overall
unemployment in India has now touched 8.2%, with a high urban figure of 9.4%.

Impact
Drop in business activity. Some companies have seen their growth rates drop sharply
between December and February. Several companies that were on track are now at risk
of missing their Q1–2020 plans as the effects of the virus ripple wider.
Supply chain disruptions. The unprecedented lockdown in China is directly impacting
global supply chains. Hardware, direct-to-consumer, and retailing companies may
need to find alternative suppliers. Pure software companies are less exposed to
supply chain disruptions, but remain at risk due to cascading economic effects
Cash runway.
Fundraising
Sales forecasts

Govt debt has touched 84.5% of GDP

travel, tourism, hospitality, manufacturing (of non-essential commodities),
restaurant and theatre industries have almost come to a standstill, while the
education and retail industries are in an earnest attempt to stagger along through
a shift to online delivery of education and products respectively.
Of course, online retail, food delivery, television, online streaming services,
essential good manufacturing, digital media and marketing and ed-tech industries
have seen a surge

according to Harvard Business Review, the most likely scenario is that of a V-

shaped recovery where growth eventually rebounds- as was the case after previous
pandemic- induced recessions of SARS, Hong Kong Flu and Spanish Flu.

This global pandemic has made the entire world aware of the importance of
investment in healthcare R&D and infrastructure- almost with an ultimatum
The Coronavirus outbreak has forced individuals, governments and the world economy
to acknowledge problems they have long been trying to avoid- the stark inequalities
in income and wealth, which make the life of the rich seem more valuable than that
of the poor
health; and our increasing vulnerability due to an extremely globalised and
interdependent world economy.

The long term impact of Coronavirus on the world economy will depend on the
decisions made in the face of the crisis
One microbe was enough to expose the vulnerabilities of the world economy and also
to help it build resilience against Black Swans which increasingly threaten to turn
white.

Black Swam
1. Is the COVID pandemic an outlier?
2. it carries an extreme ‘impact.’
Both George W. Bush (in November 2005) and Barack Obama (in December 2014) warned
of the next pandemic in speeches at the National Institutes of Health.
Along with the historical record and the many articles, papers and other sources
that warn of the next pandemic, governments themselves often conduct exercises