Impact of Covid19 on Indian Economy

Document Type : Primary Research paper

Authors

1 Assistant Professor and Research Scholar, Department of Commerce, Graphic Era Deemed to be University Dehradun Uttrakhand India

2 Associate Professor, Department of Commerce Graphic Era Deemed to be University Dehradun Uttrakhand India

Abstract

This paper aims to study the impact of Covid19 pandemic on India’s gross domestic product with a focus on adversely effected sectors. It explores the economic conditions witnessed by the country in wake of lock-down forced by the pandemic conditions. It also aims to present a comparison of some economies of Asia during pandemic times. The impact witnessed varies from mild to harsh across sectors during the first wave of Covid19 when lock down conditions were imposed across nation .Gradually the economy started recovering as lockdowns were lifted up followed by government relief packages. The government announced one of the most generous relief package to counter the tough conditions. Broadly the package focused on 4Ls: land, labor, liquidity and laws. The package intended to provide relief to various sectors like industries, medium sector, laborers, MSMEs and cottage industry. Strengthening the health infrastructure, the study suggests steps to avoid future waves of pandemic.

Keywords


Volume 12, Issue 3 - Serial Number 3
International Virtual Conference on Newer Trends and Innovation in Nanotechnology Materials Science, Science and Technology
June 2021
Pages 191-196