IMPACT OF COVID-19 ON INDIAN ECONOMY

IMPACT OF COVID-19 ON INDIAN ECONOMY
Author(s):
DR. NIRMALA DEVI
Keywords:
Economics, Economics and Strategy, Macro impacts, COVID-19.
Abstract
COVID-19 has wreaked havoc on the economy in a variety of ways. The effect of the novel corona virus on various aspects of the Indian economy is investigated in this research paper. Pessimism looms large all over. COVID-19 has been projected as worse than the Great Depression of 1930. Everyday analyst and agency reports are diving into new bottoms of a fall-down in economic activities. Indian economy, however, has a slightly different story to tell at this hour of crisis. The silver lining for the Indian economy comes from a steep fall in the crude oil prices from around $70 per barrel to a record 18 years low of $22 per barrel. This windfall gain can, to some extent, offset the direct losses due to COVID-19. At the same time, dreams like a $5 trillion economy no longer look even a remote possibility. This article takes stock of the likely impact of COVID-19 on the Indian economy in the short term and the long term. A decision-tree approach has been adopted for doing the projections.
Article Details
Unique Paper ID: 156363 Publication Volume & Issue: Volume 9, Issue 3 Page(s): 385 - 388
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