Impact of Covid-19 in the Indian Context

Author:Saumya Rai*

Abstract:
The comprehensive number of cases and deaths recorded by COVID-19 is 32,795,818till 26th September’20 globally and specifically in India the total cases are 59,08,748. Fear abounds regarding the Novel Coronavirus pandemic and the consequences. There are increasing numbers of confirmed deaths. These numbers are expected to gush when oblique costs due to lost productivity and comorbidities are taken into consideration. The economic implications are thus detrimental not only to public health systems but to trade and travel, food and agriculture industries, various market types and retail chains, among others.If no pertinent vaccine is used and if the epidemiological process is not completely known, it will be very difficult to stop the spread of this virus. The decline in manufacturing sector and how unemployment in India is rising are seen here. Our result suggests that lockdown will have a huge impact in Indian economy. The non-performing assets of banks will increase as unemployment increases, including retail loans. The paper also shows some of the remedial measures that must be taken care of so that there is a boost in the economy as soon as the lockdown gets over. But, there are no situations where the lockdown stops suddenly and it has to be done in stages by keeping a balance between Covid 19 hotspots and economic needs. . Life itself is less relevant without livelihoods. Just as the right antidote to sickness is a healthy body, the right antidote to Covid-19 in the medium term is a healthy economy.

Keywords:Key Words: COVID-19, Pandemic, WHO, Unemployment, Lockdown.

DOI:10.46333/ijtc/9/2/14

International Journal of Trade & Commerce (Vol: 9 Issue:2)