Impact of Covid-19 on Indian Economy: A Study

Abstract

The COVID-19 crisis will be penned down in history as one of the worst the world has undergone. Economically speaking, India is faced today with perhaps its greatest emergency since independence and ever since the pandemic has sneaked into the Indian Territory; it has claimed thousands of lives across the nation, virtually bringing the world economy to its knees with millions of people under lockdown. With thousands of death and challenges of not so well equipped medical system, this pandemic will devastate us financially as an economy and a nation. This paper examines the impact of COVID-19 on the global economy in general and the Indian economy in particular. It appraises the stimulus packages announced by the central government and assesses the potential impact of the shock on various segments of the economy government. It spells out policy changes to survive the downturn like to reduce uncertainty and improve growth scenarios by mobilizing all macroeconomic levers like fiscal, monetary and structural policies and retool and fortify the economy. It also emphasizes sharing and implementing best practices to support workers both employed and unemployed to name a few so that we can together beat this virus back and create a more healthy and hopeful tomorrow.

The Covid-19’s Negative Impacts on Nepalese Economy with a South Asian Perspective: Strategic Response on Post Pandemic Control

“…It has writhed from an extreme case of poverty and inequality, as well as enjoyed major infrastructure and connectivity developments. The recovery depends upon inter-governmental response and preparedness (ASEAN, 2020; ESCAP, 2020; Hussain and Borah, 2020;Shivanandamoorthy, 2020).…”