IMPACT OF COVID-19 ON INDIAN ECONOMY

COVID-19 is a disease caused by a new strain of Coronavirus. CO stands for corona, VI for virus and D for disease. The outbreak of the Covid-19 has been begun in December 2019 drastically affected the world. It also entered India by the end of January 2020 and has significantly influenced India. Covid- 19 Pandemic has created an unprecedented loss and disruption overall across the world. From developed to developing, no country has been spared from its brunt. This article focuses on impact of the outbreak of pandemic Covid-19 on Indian Economy. Covid-19 makes adverse impact on many sectors of Indian Economy. An impact assessment on the basis of available literature is made on all the three sectors- primary, secondary and service sector along with the impact on migrant, health, poverty, job losses, informal sector, environment and so forth. The all sectors of the economy have been disproportionately affected and even within a sector, there is a disproportionate loss.

The pandemic caused significant global socioeconomic disruption, including the postponement or cancellation of sporting, religious, political, and cultural activities, as well as widespread supply shortages exacerbated by panic purchasing and imbalanced trade. Furthermore, figures show that the COVID-19 outbreak has had a major impact on agriculture, commerce, tourism, travel and many more sectors.

Key Words: Covid-19, Indian Economy, Pandemic, Impact, Virus, Sector