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Impact of COVID-19 on Indian Economy

Sama Jain, Atulya Shree Sharma, Bhawana Tunwal

Abstract


A disparaging Indian economy was observed due to COVID-19 in the year 2020. According to the Ministry of Statistics, India's growth went downstairs to 3.1% in the fourth quarter of monetary year 2020.The purpose of this review is to survey the arising and quickly developing writing on the financial outcomes of COVID-19 and government reaction, and to create the bits of knowledge rising up out of an exceptionally huge number of studies. A pandemic was declared by World Health Organization (WHO) in the 2nd week of March2020 after the spread of virus in China. We had to follow ‘Lock Down’, a type of unconditional curfew as well as social distancing to come out from the situation. But these measures were totally against the economic development of India; as well as the global economy also decreased. This examination uncovered the possible effect of the stun on different areas like assembling, monetary administrations, banking, foundation, land, and administrations and set forward a bunch of strategy recommendations for specific sectors.

 


Keywords


COVID-19, impact, Indian economy, pandemic, economic shock

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