A STUDY ON EFFECT OF CORONAVIRUS (COVID-19) ON INDIAN ECONOMY DURING LOCKDOWN PHASE-1

Shashi Bhushan Mishra

Abstract


Abstract:- The Coronavirus (COVID-19) pandemic is an unprecedented confounds to the world wide economy and also severely impacted to economy of India. The Indian economy is already struggling since long due various downturns. Due to speedy spread of infection of Coronavirus (COVID-19) among the people of India phase wise lockdown announced by Govt. of India to break its transmission. The 21 days lockdown phase-1 from 25 March to 14 April 2020 declared in India has badly affected not only economy of the country but also leads to disturbance in demand and supply chains, the economy of India has paused due to lockdown. The greatness of the financial effect will rely on the span and seriousness of the wellbeing emergency, the way wherein circumstance unfurls once when this lockdown will be unlocked. In this study we depict condition of the economy of India before 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. This study is based on secondary data available through various reports, articles, newspapers and data available on Ministry of Health & Family Welfare Govt. India & WHO etc. for lockdown phase-1 in India.

Keywords:- COVID-19, Economic Downturn, Financial Institutions, Informal Sector.


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