Income Insecurity, GDP, and the Future of Human Development: An Analysis for COVID-19 Period


Dinçer H., Kalkavan H., Yüksel S., Karakuş H.

in: Economic and Societal Transformation in Pandemic-Trapped India, Subrata Saha,Mukunda Mishra,Anil Bhuimali, Editor, Springer Nature, Zug, pp.53-66, 2022

  • Publication Type: Book Chapter / Chapter Research Book
  • Publication Date: 2022
  • Publisher: Springer Nature
  • City: Zug
  • Page Numbers: pp.53-66
  • Editors: Subrata Saha,Mukunda Mishra,Anil Bhuimali, Editor

Abstract

This study will focus on the social and economic impacts of the COVID-19 pandemic on India. In this context, firstly, the impact of the COVID-19 outbreak in the country from the start date to the present will be examined. Next, the measures that the state has already taken to manage this epidemic will be discussed. In the last part, the importance for the country to effectively manage this epidemic will be emphasized. In this context, an analysis will be carried out using the Entropy method. The findings indicate that life expectancy is the most crucial criterion for India. Similarly, GDP growth is another crucial issue in this regard. However, adult literacy rate and health expenditure have the lowest weights. It is evident that the COVID-19 pandemic has many negative impacts on life expectancy in India. This situation explains that Indian people have become very anxious about their futures since lots of people died in the country due to the COVID-19 pandemic. In this period, the governments have two different alternatives, giving importance to reducing the pandemic or taking actions to increase trade volume. These two choices create a paradox for governments as they affect each other negatively. The analysis results of this study demonstrate that the Indian government should mainly focus on the necessary ways to reduce pandemics.  

Keywords: Economic growth, Development, Entropy, Pandemics, Labor force