COVID-19: a decision-making approach for evaluating the economic sectors of india during pandemic
Article Sidebar
Main Article Content
صندلی اداریAbstract
The advent of COVID-19 has escalated into a pandemic and, as a result of infected cases and human fatalities, it tends to rise day by day across the globe. This also ignited concerns of a looming fiscal slump and recession on the different economic sectors as well. The effect of this pandemic is much more significant in developing countries like India due to the already declining growth rate, inadequate health services, and a growing population residing in severe poverty. This paper attempts to understand the impact of COVID‐19 pandemic on the Indian economic sectors by employing a hierarchical approach, based on multi-criteria analysis to understand the impact on primary, secondary, tertiary and quaternary sectors by concerning the political, economic, socio‐cultural and technology consequences of COVID‐19. A process-based multi-criteria hierarchical approach has been used to determine the effect of the same and has been prioritized in the sequential sequence.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
1. Proposal of Policy for Free Access Periodics
Authors whom publish in this magazine should agree to the following terms:
a. Authors should keep the copyrights and grant to the magazine the right of the first publication, with the work simultaneously permitted under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 that allows the sharing of the work with recognition of the authorship of the work and initial publication in this magazine.
b. Authors should have authorization for assuming additional contracts separately, for non-exclusive distribution of the version of the work published in this magazine (e.g.: to publish in an institutional repository or as book chapter), with recognition of authorship and initial publication in this magazine.
c. Authors should have permission and should be stimulated to publish and to distribute its work online (e.g.: in institutional repositories or its personal page) to any point before or during the publishing process, since this can generate productive alterations, as well as increasing the impact and the citation of the published work (See The Effect of Free Access).
Proposal of Policy for Periodic that offer Postponed Free Access
Authors whom publish in this magazine should agree to the following terms:
a. Authors should keep the copyrights and grant to the magazine the right of the first publication, with the work simultaneously permitted under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 [SPECIFY TIME HERE] after the publication, allowing the sharing of the work with recognition of the authorship of the work and initial publication in this magazine.
b. Authors should have authorization for assuming additional contracts separately, for non-exclusive distribution of the version of the work published in this magazine (e.g.: to publish in institutional repository or as book chapter), with recognition of authorship and initial publication in this magazine.
c. Authors should have permission and should be stimulated to publish and to distribute its work online (e.g.: in institutional repositories or its personal page) to any point before or during the publishing process, since this can generate productive alterations, as well as increasing the impact and the citation of the published work (See The Effect of Free Access).
d. They allow some kind of open dissemination. Authors can disseminate their articles in open access, but with specific conditions imposed by the editor that are related to:
Version of the article that can be deposited in the repository:
Pre-print: before being reviewed by pairs.
Post-print: once reviewed by pairs, which can be:
The version of the author that has been accepted for publication.
The editor's version, that is, the article published in the magazine.
At which point the article can be made accessible in an open manner: before it is published in the magazine, immediately afterwards or if a period of seizure is required, which can range from six months to several years.
Where to leave open: on the author's personal web page, only departmental websites, the repository of the institution, the file of the research funding agency, among others.
References
Babu, K. A., & Venkataramaiah, P. (2015). Multi-response optimization in wire electrical discharge machining (WEDM) of Al6061/SiCp composite using hybrid approach. Journal for Manufacturing Science and Production, 15(4), 327-338. DOI: https://doi.org/10.1515/jmsp-2015-0010
Balajee, A., Tomar, S., & Udupa, G. (2020). Fiscal Situation of India in the Time of COVID-19. Indian School of Business. DOI: http://dx.doi.org/10.2139/ssrn.3571103
Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M., & Stanton, C. (2020). The impact of COVID-19 on small business outcomes and expectations. Proceedings of the National Academy of Sciences, 117(30), 17656-17666. DOI: https://doi.org/10.1073/pnas.2006991117
Basu, K., & Maertens, A. (2007). The pattern and causes of economic growth in India. Oxford Review of Economic Policy, 23(2), 143-167. DOI: https://doi.org/10.1093/oxrep/grm012
Bol, D., Giani, M., Blais, A., & Loewen, P. J. (2020). The effect of COVID‐19 lockdowns on political support: Some good news for democracy?. European Journal of Political Research. DOI: https://doi.org/10.1111/1475-6765.12401.
Buheji, M., Da Costa Cunha, K., Beka, G., Mavric, B., De Souza, Y. L., Da Costa Silva, S. S., & Yein, T. C. (2020). The extent of covid-19 pandemic socio-economic impact on global poverty. A global integrative multidisciplinary review. American Journal of Economics, 10(4), 213-224. DOI: 10.5923/j.economics.20201004.02
Deshmukh, S. G., & Haleem, A. (2020). Framework for Manufacturing in Post-Covid-19 World Order: An Indian Perspective. International Journal of Global Business and Competitiveness. DOI: https://doi.org/10.1007/s42943-020-00009-1
Dev, S. M. (2020). Addressing COVID-19 impacts on agriculture, food security, and livelihoods in India. IFPRI book chapters, 33-35. Available: https://www.ifpri.org/cdmref/p15738coll2/id/133824/filename/134027.pdf Access: 25th October, 2020.
Dev, S. M., & Sengupta, R. (2020). Covid-19: Impact on the Indian economy. Indira Gandhi Institute of Development Research, Mumbai April. Available: http://www.igidr.ac.in/pdf/publication/WP-2020-013.pdf Access: 25th October, 2020.
Dwivedi, G., Srivastava, R. K., & Srivastava, S. K. (2018). A generalised fuzzy TOPSIS with improved closeness coefficient. Expert Systems with Applications, 96, 185-195. DOI: https://doi.org/10.1016/j.eswa.2017.11.051
Gopalan, H. S., & Misra, A. (2020).. COVID-19 Pandemic and Challenges for Socio-economic Issues, Healthcare and National Programs in India. Diabetes & Metabolic Syndrome: Clinical Research & Reviews. DOI: https://doi.org/10.1016/j.ajp.2020.102254
Gunaseelan, S., & Kesavan, N. (2020). Business and economic recessions in india during the covid-19–a review. Journal of Xi’an University of Architecture & Technology, 12.
Available: http://www.xajzkjdx.cn/gallery/32-april2020.pdf Access: 25th October, 2020.
Hwang, C. L., Lai, Y. J., & Liu, T. Y. (1993). A new approach for multiple objective decision making. Computers and Operational Research, 20(8), 889–899. DOI: https://doi.org/10.1016/0305-0548(93).90109-V
Kumar, A., Gupta, P. K., & Srivastava, A. (2020). A review of modern technologies for tackling COVID-19 pandemic. Diabetes & Metabolic Syndrome: Clinical Research & Reviews. DOI: https://doi.org/10.1016/j.dsx.2020.05.008
Papola, T. S. (2006). Emerging structure of Indian economy: Implications of growing intersectoral imbalances. The Indian Economic Journal, 54(1), 5-25. DOI: https://doi.org/10.1177/0019466220060102
Ravallion, M., & Datt, G. (1996). How important to India's poor is the sectoral composition of economic growth?. The World Bank Economic Review, 10(1), 1-25. DOI: https://doi.org/10.1093/wber/10.1.1
Reardon, T., Mishra, A., Nuthalapati, C. S., Bellemare, M. F., & Zilberman, D. (2020). Covid-19’s disruption of india’s transformed food supply chains. Economic and Political Weekly, 55(18),18-22. Available:https://www.epw.in/journal/2020/18/commentary/covid-19sdisruption-indias-transformed-food.html Access: 25th October, 2020.
Ritter, T., &Pedersen, C. L. (2020). Analyzing the impact of the coronavirus crisis on business models. Industrial Marketing Management. DOI: https://doi.org/10.1016/j.indmarman.2020.05.014
Saaty, T. L. (1989). Group decision making and the AHP. In The analytic hierarchy process Springer, Berlin, Heidelberg, p 59-67. DOI: https://doi.org/10.1007/978-3-642-50244-6_4
Sastry, D. V. S., Singh, B., Bhattacharya, K., & Unnikrishnan, N. K. (2003). Sectoral linkages and growth prospects: Reflections on the Indian economy. Economic and Political Weekly, 2390-2397. Available: https://www.jstor.org/stable/4413682?seq=1 Access: 25th October, 2020.
Sengupta, S., & Jha, M. K. (2020). Social policy, COVID-19 and impoverished migrants: challenges and prospects in locked down India. The International Journal of Community and Social Development. DOI: https://doi.org/10.1177/2516602620933715
Sharma, G. D., Talan, G., & Jain, M. (2020a).. Policy response to the economic challenge from COVID‐19 in India: A qualitative enquiry. Journal of Public Affairs, 2206. DOI: https://doi.org/10.1002/pa.2206
Sharma, G. D., Talan, G., Srivastava, M., Yadav, A., & Chopra, R. (2020b). A qualitative enquiry into strategic and operational responses to Covid‐19 challenges in South Asia. Journal of Public Affairs, 2195. DOI: https://doi.org/10.1002/pa.2195
Singh, M. K., & Neog, Y. (2020). Contagion effect of COVID‐19 outbreak: Another recipe for disaster on Indian economy. Journal of Public Affairs, 2171. DOI: https://doi.org/10.1002/pa.2171
Tomar, B. S., Singh, P., Nathiya, D., Suman, S., Raj, P., Tripathi, S., & Chauhan, D. S. (2020). Indian community’s Knowledge, Attitude & Practice towards COVID-19. medRxiv. DOI: https://doi.org/10.1101/2020.05.05.20092122
Verma, S., Saharan, A., Polcumpally, A. T., & Biswas, M. (2020). Tentacles of COVID-19 in India: Impact on Indian Economy, Society, Polity and Geopolitics. Journal of Humanities and Social Science Studies, 2(3), 54-61. Available: http://dspace.jgu.edu.in:8080/jspui/handle/10739/3939 Access: 25th October, 2020.
Wu, C. R., Chang, H. Y., & Wu, L. S. (2009). Evaluating optimal choice of the energy fund by using AHP-TOPSIS model. Journal of Information and Optimization Sciences, 30(6), 1081-1098. DOI: https://doi.org/10.1080/02522667.2009.10699929