Speaker: Prof. Jayan Jose Thomas, Indian Institute of Technology Delhi
Date & Hour: 09 April 2021, 4:00 pm
Title: A Year after COVID-19: The Case for a Wage-led Recovery in the Indian Economy
Webinar link: To be provided
Abstract: India has been facing a tough challenge in creating decent jobs for its growing young population. The crisis triggered due to the COVID-19 pandemic has aggravated the job challenge in India. It is clear that the current crisis in the economy can be overcome only by creating new economic opportunities in India’s rural areas and by widening the sources of demand – that is, by raising the consumption of and investment for the poor. Cutting wages will shrink markets further and deepen the crisis during a depression. The policies of the government and the private sector should assist in raising workers’ wages and incomes, and thereby, in enlarging the size of the markets. The country urgently requires public investments in infrastructure building and innovation, especially in the areas of healthcare, education, agriculture and public transport.
About the Speaker:
Jayan Jose Thomas is a Professor of Economics at the Indian Institute of Technology (IIT) Delhi and a Member (part-time) of the Kerala State Planning Board. Jayan’s research has dealt with various aspects of Indian development, especially issues related to labour, industrialization and the macroeconomy. He teaches courses on macroeconomics, Indian economic development, international economics, and planning and development. His research papers have appeared in journals including World Development, Development and Change and Economic and Political Weekly. He contributes regularly to media outlets, including the Hindu, Frontline , and Livemint, and his research has been cited in the Government of India’s Economic Survey, BBC, and the Wall Street Journal.