It’s Time the US Abolished the Income Tax
Bring on the consumption tax.
It’s Time the US Abolished the Income Tax
India’s Economic Recovery from Its COVID-19 Lockdown
- By
- February 26, 2021
- CBR - Economics
In response to COVID-19's rise, India ordered most of the country's 1.3 billion residents to stop working and remain indoors starting in March 2020—the world's largest lockdown. The government began relaxing restrictions in June, and research finds that while India's economy improved rapidly in the following months, the outlook for a return to prelockdown levels remained unclear.
In a report for Chicago Booth's Rustandy Center for Social Sector Innovation, Booth's Marianne Bertrand and Rebecca Dizon-Ross, Centre for Monitoring Indian Economy's Kaushik Krishnan, and University of Pennsylvania's Heather Schofield examined household-level survey data to establish a more comprehensive view of India's initial recovery than national economic indicators could provide. These charts and maps highlight a selection of their main findings.
The lockdown affected income differently across states
Employment remained down as the economy opened back up
Income levels remained depressed as the lockdown was initially lifted
Top earners’ income didn’t drop as sharply during the lockdown months
Spending on basic food items remained down after the reopening
Marianne Bertrand, Rebecca Dizon-Ross, Kaushik Krishnan, and Heather Schofield, "Employment, Income, and Consumption in India during and after the Lockdown: A V-shape Recovery?" Rustandy Center for Social Sector Innovation report, November 2020.
More from Chicago Booth Review
Climate-Policy Pronouncements Boost ‘Brown’ Stocks
A US president’s comments tend to calm volatility around climate-related stocks and bolster asset prices by resolving uncertainty.
Climate-Policy Pronouncements Boost ‘Brown’ Stocks
How Colleges Can Make the Admissions Process Easier for Students, and Themselves
Is inefficiency inherent in the matching of students and colleges?
How Colleges Can Make the Admissions Process Easier for Students, and ThemselvesMore from Chicago Booth
Your Privacy
We want to demonstrate our commitment to your privacy. Please review Chicago Booth's privacy notice, which provides information explaining how and why we collect particular information when you visit our website.