Delhi Metropolitan Education (DME) (IP University) Noida, is organising an online panel discussion on “Macroeconomic implications of COVID- 19 and the way ahead” which is scheduled on Saturday 4th July 2020 between 11:00 am to 12.30 pm.
Delhi Metropolitan Education is a Premier educational institute, affiliated to Guru Gobind Singh Indraprastha University (GGSIPU). DME imparts education in the field of Law, Management and Journalism and Mass Communication.
About the webinar
As we all know the Corona Pandemic has caught the world off guard. Ensuring that education and learning are not obstructed due to lockdown and social distancing, Research Cell, DME is organising this panel discussion online using videoconferencing software Zoom on July 4th as stated above.
According to an economic forecast by IMF, since its diagnosis COVID-19 outbreak has spread to over 200 countries. Estimates so far indicate that the virus could trim global economic growth by 3.0% to 6.0% in 2020, with partial recovery in 2021, assuming there is no second wave. This will be the steepest slowdown since the Great depression of the 1930s. According to the Bureau of Labor Statistics, USA 20-23 million Americans lost their jobs in April 2020 resulting in a national unemployment rate of 14.7%. In Europe, over 30 million people have applied for State support of their wages. 27 million youngsters in India between 20-30 years of age lost their job in April 2020 as per Centre for Monitoring Indian Economy. The OECD has forecasted that real per capita income in 2020 is projected to decline by 8% in a one wave contagion senario.
Foreign investors have pulled an estimated 26 billion US dollars out of developing Asian countries not including more than 16 billion US dollars from India alone. The Global lockdown has affected Oil and natural gas prices due to fall in travel and global industrial activity. IMF projects 2.6 % decline in food prices in 2020. WTO has forecasted that global trade volumes are projected to decline between 13% and 32% in 2020. COVID-19 poses a real challenge to the UN Sustainable Development Goal of ending poverty by 2030 because global poverty could increase for the first time since 1990.
Many advanced economies in the world have rolled out support packages. While India’s economic stimulus package is 10% of its GDP, Japan’s is 21.1%, followed by the US (13%), Sweden (12%), Germany (10.7%), France (9.%), Spain (7.3%) and Italy (5.7%). Indian government introduced a 20 lakh crore stimulus to help the economy but the question stands: is it enough? Indian government is promoting Make in India and Foreign Direct Investment with increased intensity. After demonetization it is said that Corona pandemic has damaged the MSMEs heavily in India.
By organising this online panel discussion we are making an honest attempt to find certain answers to these queries pertaining to India and many other relevant ones engulfing the world economies. This is also intended to help even those attendees who are not from an economics background to understand the economic effects of COVID-19 and how it can affect their lives.
The session will begin with the moderator introducing the topic and theme of the discussion. There will be three panelists and they will be making a PPT presentation for 10-15 minutes each about their perspectives on the topic. Then the moderators will be asking a few curated questions followed by 20-25 minutes of Q&A with the audience ending with a summary and thanks.
Participation is on the base of first come and first served basis so kindly register by clicking on this link.
The YouTube link of the recording will be shared on the registered email ids 2 days after the panel discussion.
The panel discussion will be online using Zoom Meeting
Meeting id: 947 0626 1543
Link for Zoom Meeting: Click here
In case of any queries info:
Ganesh Nair: 9968159019 (Student convener, Research Cell DME)
Aashna Aggarwal: 9811043614 (Student convener Research Cell DME)
Rohit Kumar: 7004024218 (Student member Research Cell DME)
For details, view the brochure given below.