Questions and Answers on impact of Covid 19
Once lockdown is lifted, how will productivity rise? Why will there be a reduction in employment after the lockdown?
Once lockdown is lifted, firms may not be able to operate immediately or atleast till the end of 2020 or beginning 2021, at the earlier full capacity due to a variety of reason. This will cause elimination or retrenchment of a number of employees. Thus the operation will operate at a lower capacity with less no of employees resulting in an productivity increase.
Which sectors of the Indian Economy will grow faster?
Sectors like Health and Hospital, Pharmaceutical, Biotechnology, Financial sector, Insurance Sector, IT sector – Online / Digital Education, Digital Marketing, AI, Robotics etc.
How FMCG and Consumer durable sector will move during these tough times?
FMCG sector will grow at a lower rate especially in the short run. Consumers may reduce their consumption of FMCG and may postpone the purchase of consumer durables. In case if FMCG & consumer durable goods there could be a shift from branded products to unbranded products
How will faculty requirements or availability increase in the education sector?
Currently there is a faculty shortage. After this phase say till mid 2022, the industry personnel-middle level / lower similar level would be available as faculties. It is expected that statutory authorities may lower the faculty quality requirements
What could be the major disruptions in the education sector?
a.increase in skill based education
b.Online education, simulation based education management games based, linking theory to practice and vice versa. In the short run there would be an increase in FLY BY NIGHT online education providers.
c.Gradual shift to online exam mode and online evaluation.
- Around 30% of face to face teaching will shift to online education
e.there could be a relaxation in the requirement of infrastructure, qualification of faculties etc by the statutory authorities in the short run
- Radical changes are expected in the syllabus, new course introduction linking industry to theory and vice versa. Courses like new product development, entrepreneurship management will be in greater demand
g.Faculties will have to keep themselves updated. There would be greater emphasis on uploading learning on YouTube, videos, learning Management Systems etc.
- Innovations will be the key to success
Will the Construction sector-Reality sector grow in the short run?
Demand for housing will show a downward trend inspite of government financial package. Additionally the growth in ‘Work from Home’ would result in the requirement of commercial space also decreasing
Which areas of banking and insurance will be more in demand?
Credit disbursal, treasury management, retail banking, foreign exchange management, medical and life insurance will be great demand
What about the agriculture sector?
Food grain production will increase
The weather department has forecasted good rains.
The issue is availablity of warehousing, cold storage facilities, logistics and supply chain management
Will boycotting Chinese products result in an increasing manufacturing activities
The Chinese products will not be completely boycotted but there will be a gradual shift to manufacturing products in India. The make in India movement will gather speed
Prof. Dr. R. Gopal
Director ,DY Patil University.