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Dr. Arun Kumar Calls for Collectivity and Rapid Vaccination in Fight to Accelerate Economic Recovery

New Delhi, February 26, 2021 ( Odisha Samachar) : Describing the Covid-19 pandemic and its aftermath as the “worst economic crisis post Independence”, renowned economist Dr. Arun Kumar, Malcolm Adiseshiah Chair Professor, Institute of Social Sciences, has called for “Collectivity” and the need for “a rapid ramping up in the vaccination process”, to help the Indian economy recover faster from the effects of the lockdown-induced recession that it has plummeted to.

Dr. Kumar made the comments while addressing students at the sixth edition of the Indian School of Business & Finance (ISBF), New Delhi, which hosted Distinguished Public Lecture Series, on the theme ‘The Impact of Coronavirus and the Lockdown on the Indian Economy’.

Elaborating on his thoughts as captured in his widely acclaimed latest book Indian Economy’s Greatest Crisis: Impact of the Coronavirus and the Road Ahead, Dr. Kumar said that given we had seen at least seven such virus outbreaks in the last two decades, the need was to be well-prepared for the next one and for that to happen a lot of Collectivity or ‘collective will’ would be imperative. Any divisiveness in society, he said, would be fatal to combat such outbreaks as the COVID crisis had aptly displayed all over the world.

Dr. Kumar also urged the Central Government to significantly ramp up the pace of vaccination in the country and prioritize vaccinating as many citizens as fast as possible, as once life was preserved, only then could the economic recovery be effective and sustainable, according to him.

Responding to a student’s question during an absorbing Q&A session after the Lecture, Dr. Kumar emphasized that the lockdown was essential to ramp-up health infrastructure in the country and also laid down immediate measures like expanding public expenditure, that were critical to resuscitate demand in the economy, a key factor according to him, in bringing about the recession.

Delivering a vote of thanks to conclude the session, Dr. G.L. Tayal, Dean, ISBF, said, “It must have been really gratifying for our students as it was for me, to be enriched by your knowledge and wisdom on the COVID crisis and its impact on the Indian economy. I am sure this will help them immensely in furthering their appreciation and understanding of the scale of the crisis we are faced with. On behalf of ISBF, I would like to extend our deep gratitude towards you for sparing your precious time to share your deep insights on the Post-COVID economy.”

The ISBF Distinguished Public Lecture Series in its previous editions have hosted leading names from Academia, Policy and Industry such as Dr. Montek Singh Ahluwalia, Former Deputy Chairman, Planning Commission; Dr Pronab Sen, Former (and first) Chief Statistician of India; Dr Abhijit Sen, Former Member of the Planning Commission; and Dr. Ajit Mishra, Director of Institute of Economic Growth (IEG), among others.

About ISBF

ISBF was founded in 2006 with the vision of delivering world‐class education in India. Through its partnerships with global giants like the University of London, The London School of Economics and Political Science and Kingston University, ISBF ensures that students receive a rigorous, application-oriented and global education, which is relevant to local needs.

Many of them transfer to foreign universities in their second year of undergraduate study, go on to prestigious institutions for higher study, or secure placements in India or overseas with leading multinational corporations.

ISBF students are taught by an expert and highly qualified group of faculty members and also see deep engagement from partnering universities, who train ISBF’s teachers as well as conduct classes for students. On the LSE led programmes, ISBF students study the same curriculum and are held to the same standards as LSE students, with the programmes culminating into a University of London degree at a fraction of the cost.

Today, ISBF is one of LSE’s top five Teaching Institutions in the world, and also enjoys the University of London’s Affiliate Centre status, the highest recognition accorded to teaching institutions by the university.

In the Academic Year 2020-2021, ISBF has initiated the Business Management (Honors) undergraduate programme in partnership with Kingston University. Students of this programme are full-fledged Kingston University students who necessarily transfer to KU in the third year and graduate in London. They receive all the same benefits as international students studying at Kingston University including hostel accommodation, 2-year work VISA and other career related benefits. The programme also offers an optional year-long internship anywhere in the world. Students complete this programme at less than half the cost at ISBF.

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