India, a land of vibrant culture and entrepreneurial spirit, thrives on the ingenuity and resourcefulness of its people. Amidst the bustling streets and urban landscapes, there lies a significant yet often overlooked segment of the economy – home-based enterprises. These businesses, operated from the comfort of one's home or nearby premises, constitute a crucial component of India's economic fabric, contributing to employment, productivity, and overall economic growth. 1. Evolution of Home-Based Workforce Over the past few decades, the landscape of home-based enterprises in India has witnessed both growth and flux. According to data sourced from the National Sample Survey, the number of home-based workers stood at approximately 47.14 million in 2004-05. This figure saw a modest increase to 49.20 million by 2011-12. However, a noticeable decline was observed in 2017-18, with the estimated count dropping to 41.85 million. Despite this fluctuation, home-based work consis
One doomsday scenario in which the coronavirus outbreak could cost the global economy up to $2 trillion this year. After $2 trillion shortfall in global income, COVID-19 affects oil-exporting countries and also other commodity exporters badly. China might recover from COVID-19 impact by lending as China is a crucial source of long term borrowing for developing countries.
COVID-19 has brought global recession by depressing global annual growth this year to below 2.5%, the recessionary threshold for the world economy. Central Banks are not in a position to solve this crisis alone. Their macroeconomics policy will need public investment and targeted welfare support.
At present scenario, coronavirus has surpassed 100000 confirmed cases worldwide, it will make the impact more severe to the global economy.