Thursday, July 22

Adverse Effect of Corona On Indian Economy

Economy is the operation of any country’s money (exchange, supply), transport , production, industrial and commercial works. It is the process of between production and consumption of goods and services. Corona affects Indian economy very badly.

Indian economy

Thorough GDP reference Indian economy is the ninth economy in the world. India is the 2nd largest  country in the world in terms of population and the  7th largest country in terms of area.

History of Indian Economy

Before independence, India had a developed economy. But after the arrival of British company, it decreased gradually. In 1947, after independence of India, the process of rebuilding the economy began. For this reason, various plans and five years plan has made.

Lockdown affect economy

In the past two years Indian economy  is totally deviate. Corona epidemic has affected not only in India but also it has affected the all country in the world. Last year in India, according to economists, economy of India had decreased around 23.9%.

Recently, according to the report of  UBS Securities,  economy may collapse  due to the  lockdown  that was imposed to avoid the second wave of Corona.  According to reports, last year during the June quarter it was recorded  that  Indian economy decreased 23.9% . Last year, due to the four hours lockdown imposed by central government economy had to suffered heavy loss.

After the vaccination of Covid-19 Indian economy may come back to speed in half year. Economist of SBI Saumaya Kanti Ghosh said,”GDP growth rate would be less than 10% . I am not using the word epidemic but the result will not be good.” The situation which has arised due to corona increase the unemployment in the country.

According to the survey of the C-voter agency, most of the people is not seeing any hope in the next 12 months. There has been a sharp decline in the standard of living of the people.

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