COVID 19 Effect On Indian Economy

There has been great depression, dot com bubble, and the financial crash in 2008. Just like that now, covid19 is causing havoc in the Indian economy. The next twelve months will be crucial during this period; many changes will be there with peoples, business houses, economies, etc. Some might even die. But at the same time, there will be many new businesses that will come up when this gets over. However, many people, as of now, struggle to run the family now. Many prices have increased. But in some cases, the people have lost their livelihood.

Most of the financial professionals have predicted this pandemic, and the multi-phased lockdown will spell devastation on the Indian economy, which is nothing but the truth. Though the scenario is pathetic, the International Monetary Fund (IMF) predicts the growth percent for 20-21 as 1.9 percent. It is appreciable that the Indian Government is spending on healthcare measures by supporting wages, in-kind, and cash transfers to lower-income and deferral of tax, loans, and liquidity for small businesses and financial institutions.

 Indian economy itself is in a lousy condition, and now this COVID 19 has made it pathetic. The prolonged lockdown will make a global economic downturn and associated problem in the supply chain. Only people need to wait and watch how it all goes.