Best strategies to overcome the COVID-19 impact
SMART CITIES

Best strategies to overcome the COVID-19 impact

COVID-19 crisis is a bolt from the blue. There is no precedent of this particular strain of the Coronavirus , and hence, any projections of its impact can at best be treated as intelligent guesses.

This is Part-2 of a series of an article written by Kunal Kumar, Joint Secretary & Mission Director (Smart Cities Mission), Ministry of Housing and Urban Affairs, Government of India, on the likely impacts of the Coronavirus on India; the best strategies going forward; and the key focus areas and actions for the short, medium and long terms.

Read more on his article on ‘Coronavirus: What have you done to our economy and society?’ here 
Read more on his article onKey focus areas and actions – Short term’ here 
Read more on his article onKey focus areas and actions – Medium term’ here
Read more on his article onKey focus areas and actions – Long termhere 

What’s the best strategy now?

1. While this may seem to be the right time to undertake structural reforms which may help build long-term resilience to such crises in the future, our prime concern has to the revival of the economy in the present. To the extent possible, we should only focus on the short-term for the moment while trying to ensure that these short-term measures are in alignment with the needed long-term structural changes.

2. It would be vital to quickly seal the chasms that have developed in the supply side of the economy. We have to remember that the demand side shock is ultimately a fallout of the supply side shock and not vice-versa. Instead of relying on traditional methods which propagate increased public spending in asset creation, more fiscal resources should be targeted at directly helping individuals and firms that may have collapsed due to this sudden shock.

3. To begin with, expenditure on certain ongoing schemes of the government that are long term and will not produce any impact on economic revival/job-creation in the near term (current financial year) could be brought down to maintenance mode. A list of such schemes may be drawn by respective ministries and state governments as Category M projects. New schemes of similar kind waiting for government nod may be pursued up to the stage of approval by government; however, deployment of financial resources on such schemes may be done only from the next financial year.

4. Expenditures on both Central and state schemes for infrastructure creation may be continued on the condition that projects to be undertaken from such funds may follow a revised priority which focuses broadly on two things:
a. Priorities on the health-related response
b. Priorities on the economic response.

5. The responses for every sector would have to be classified into short term (two to three months) focused clearly on defeating the onslaught of the pandemic; medium term (three to eight months months) focused on socioeconomic revival; long term (eight months onwards) focusing on pushing ahead on all cylinders based on new emergent realities.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

COVID-19 crisis is a bolt from the blue. There is no precedent of this particular strain of the Coronavirus , and hence, any projections of its impact can at best be treated as intelligent guesses. This is Part-2 of a series of an article written by Kunal Kumar, Joint Secretary & Mission Director (Smart Cities Mission), Ministry of Housing and Urban Affairs, Government of India, on the likely impacts of the Coronavirus on India; the best strategies going forward; and the key focus areas and actions for the short, medium and long terms. Read more on his article on ‘Coronavirus: What have you done to our economy and society?’ here  Read more on his article on ‘Key focus areas and actions – Short term’ here  Read more on his article on ‘Key focus areas and actions – Medium term’ here Read more on his article on ‘Key focus areas and actions – Long term’ here  What’s the best strategy now? 1. While this may seem to be the right time to undertake structural reforms which may help build long-term resilience to such crises in the future, our prime concern has to the revival of the economy in the present. To the extent possible, we should only focus on the short-term for the moment while trying to ensure that these short-term measures are in alignment with the needed long-term structural changes. 2. It would be vital to quickly seal the chasms that have developed in the supply side of the economy. We have to remember that the demand side shock is ultimately a fallout of the supply side shock and not vice-versa. Instead of relying on traditional methods which propagate increased public spending in asset creation, more fiscal resources should be targeted at directly helping individuals and firms that may have collapsed due to this sudden shock. 3. To begin with, expenditure on certain ongoing schemes of the government that are long term and will not produce any impact on economic revival/job-creation in the near term (current financial year) could be brought down to maintenance mode. A list of such schemes may be drawn by respective ministries and state governments as Category M projects. New schemes of similar kind waiting for government nod may be pursued up to the stage of approval by government; however, deployment of financial resources on such schemes may be done only from the next financial year. 4. Expenditures on both Central and state schemes for infrastructure creation may be continued on the condition that projects to be undertaken from such funds may follow a revised priority which focuses broadly on two things: a. Priorities on the health-related response b. Priorities on the economic response. 5. The responses for every sector would have to be classified into short term (two to three months) focused clearly on defeating the onslaught of the pandemic; medium term (three to eight months months) focused on socioeconomic revival; long term (eight months onwards) focusing on pushing ahead on all cylinders based on new emergent realities.

Next Story
Real Estate

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Next Story
Real Estate

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

Next Story
Infrastructure Urban

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement