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.
