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• W4322738713 abstract "The developing economies of the world witnessed a detrimental impact and faced high turbulences in every aspect of development due to the COVID-19 pandemic. The baseline of the upcoming and potential economies like India was shaken from its roots. The government was forced to impose lockdowns that impacted the education sector, financial sector, manufacturing sector, the Gross Domestic Product (GDP) of the country, and the list goes endless. The pandemic paralyzed the spinal cord of the global economies and impaired the development of the whole nation. After a year of relentless struggle on the way to reform and revival to the new normal, the pace of recovery started, but the growth momentum reduced drastically. As per the experts, the road to recovery would result in a U-shaped recession. COVID-19 had upsurged the debt level of the emerging markets, leading to widened inequities. The micro, small, and medium enterprises faced a severe cash crunch, resulting in the backfall of the economy. The thousands of migrants on foot forced the Indian economy to surrender and bow its head to the crisis. The uncontrolled expenditures increased pressure on the government budget resulting in an economic slowdown.This chapter focuses on the impact of the COVID-19 crisis on the developing economy of India with special consideration of the Financial landscape of the country. This chapter deals with the management of the crisis and the unveiling policies, which resulted in the strategic moves taking India from crisis to resilience and inclusive recovery.The first episode focuses on the cascading impact of the crisis and the disruptions caused by the pandemic in the financial sector of India. The second episode deals with the Resilience strategies and policy makeovers by Re-imagination pioneered by the government of India, the financial institutions, the retail investors, and the companies joining hands to ride successfully over the turbulent waves. Every event has a positive and a detrimental outlook. The third part of the chapter focuses on the tectonic shifts in the financial landscape of India highlighting the positive affirmations of the pandemic. The fourth episode discusses the practical and industrial relevance of the chapter. The conclusive note highlights, Resolve, Resilience, Return, Re-imagine, and Reform as the five important strategies for managing any form of crisis. Resolve means staying connected to encounter problems with the right approach and having an alternative plan for implementation. Resilience indicates strategizing to cope and bounce back with positive enthusiasm. Return indicates going back to normal but with a different outlook and perspective. Re-imagination is redefining a newer trend, and Reform is self-dependency for a better tomorrow.The government of the emerging economies is considering the 5 R’s and working toward rehabilitation of the economy, development of public health, infrastructural, and social perspectives to control the impact and lessen the catastrophe of pandemics in the future." @default.
• W4322738713 created "2023-03-03" @default.
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• W4322738713 date "2023-03-01" @default.
• W4322738713 modified "2023-09-27" @default.
• W4322738713 title "Weathering the storm" @default.
• W4322738713 doi "https://doi.org/10.4324/9781003295068-10" @default.
• W4322738713 hasPublicationYear "2023" @default.
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