Vol 7 , Issue 2 , July - December 2020 | Pages: 38-47 | Research Paper
Published Online: November 25, 2020
( * ) denotes Corresponding author
Since 24th March, 2020 India has been under complete lockdown immediately after following a voluntary ‘Janta Curfew’ on the appeal of Hon’ble Prime Minister Mr. Narender Modi to combat Covid-19 a worldwide pandemic. It has punched the Indian economy adversely which has already been suffering with sluggish growth rate in GDP. In the era of globalization where countries across the world are interdependent to fulfill their needs, COVId-19 has affected imports and exports adversely. According to Chief Economic Advisor, KV Subramanian the GDP growth in the first quarter (April to June) is likely to range between one to two percent due to Covid-19 led crisis and subsequent lockdown. Moreover, surveys by industry bodies have revealed that businesses are grappling with tremendous uncertainty about their future. It is not a good sign for a labour intensive country like India where unemployment rate is already higher. Keeping in view these facts the present paper has been presented to discuss the impact of Covid-19 on Indian economy and to suggest remedial measures thereof. The study is secondary data based and the same has been collected from different published reports, newspapers/magazines and internet.
Covid-19; Gross domestic product; Per capita income.