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Economy impact of covid-19 - A case study of India
Date Issued
2020
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Abstract
The outbreak of Coronavirus disease 2019 (COVID-19), first identified in Wuhan, the capital of Hubei, China, in December 2019 and since then having spread globally, has been recognized as a pandemic by the World Health Organization (WHO) on 11 March 2020. India is widely affected by this pandemic. As on 29.04.2020, more than 31000 cases of Coronavirus have been confirmed in India with more than 1000 deaths. The immediate response that countries adopted was the lockdown“stay at home” measures aiming to avoid movement of people since the virus was believed to spread through contact with the infected persons. The lockdown also had its own economic impact as it puts halt to most economic activities and operations with an exception of essential services.
The outbreak of the Covid-19 pandemic is an unprecedented shock to the Indian economy. The economy was already in a parlous state before Covid-19 struck. With the prolonged country-wide lockdown, global economic downturn and associated disruption of demand and supply chains, the economy is likely to face a protracted period of slowdown. The magnitude of the economic impact will depend upon the duration and severity of the health crisis, the duration of the lockdown and the manner in which the situation unfolds once the lockdown is lifted. In this paper we describe the state of the Indian economy in the pre-Covid-19 period, assess the potential impact of the shock on various segments of the economy, analyze the policies that have been announced so far by the central government and the Reserve Bank of India to ameliorate the economic shock and put forward a set of policy recommendations for specific sectors.
In this report we are discussed about the economy impact of virus in Indian Economy. Its impact of the lockdown measures on various sectors in the primary, secondary and industries and so on and the action taken by the Indian government for recovery the economy.
The outbreak of the Covid-19 pandemic is an unprecedented shock to the Indian economy. The economy was already in a parlous state before Covid-19 struck. With the prolonged country-wide lockdown, global economic downturn and associated disruption of demand and supply chains, the economy is likely to face a protracted period of slowdown. The magnitude of the economic impact will depend upon the duration and severity of the health crisis, the duration of the lockdown and the manner in which the situation unfolds once the lockdown is lifted. In this paper we describe the state of the Indian economy in the pre-Covid-19 period, assess the potential impact of the shock on various segments of the economy, analyze the policies that have been announced so far by the central government and the Reserve Bank of India to ameliorate the economic shock and put forward a set of policy recommendations for specific sectors.
In this report we are discussed about the economy impact of virus in Indian Economy. Its impact of the lockdown measures on various sectors in the primary, secondary and industries and so on and the action taken by the Indian government for recovery the economy.
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Economy impact of covid-19 - A case study of India
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