Ramifications of Lockdown due to COVID-19 on Skill Development Industry
Covid-19 has struck with the world economy with stunning ferocity. It’s not only a health crisis of extraordinary proportion—it’s also a beginning of restructuring of the global economic order. As per IMF predictions the global economy will tumble into a recession. All the major sectors of world economy are disrupted. Amidst the global lockdown, industrial production has ground to a halt, supply chains have been broken, and the services sector has been stressed. There is no segment of the global economy, which has remained untouched. Emergency crisis response is “new normal” in almost all countries where Public, Private agencies are on war footing to ensure the adequate supply of beds, supplies, and trained workers. Business-continuity and employee-safety plans have been escalated, with remote work established as the default operating mode. Acute slowdowns in the operations, meeting demand in essential services and goods are of utmost importance to public and private agencies fighting COVID-19. Educational institutions are moving online to provide ongoing learning opportunities as physical classrooms shut down. It is in this “new normal” circumstances.
It is in this new normal, efforts of Indian Government has been praised in world stage but its ramifciactions on local economy and poor have been immense. Its impact on skill development sector which is one of the pillar of government’s development agenda has been severe. This paper aim to understand this ramifcications and suggest ways to address the shock it has received due to COVID-19 pandemic.