ECONOMIC IMPACT OF THE COVID-19 PANDEMIC IN INDIA

ECONOMIC IMPACT OF THE COVID-19 PANDEMIC IN INDIA
Author(s):
GARIMA
Keywords:
Economics, Economics and Strategy, Macro impacts, COVID-19.
Abstract
The objective of this paper is to assess the impact of COVID-19 on the Indian economy in the short term and the long term. The effect of the novel corona virus on various aspects of the Indian economy is investigated in this research paper. Pessimism looms large all over. COVID-19 has been projected as worse than the Great Depression of 1930. Everyday analyst and agency reports are diving into new bottoms of a fall-down in economic activities. Indian economy, however, has a slightly different story to tell at this hour of crisis. The silver lining for the Indian economy comes from a steep fall in the crude oil prices from around $70 per barrel to a record 18 years low of $22 per barrel. This windfall gain can, to some extent, offset the direct losses due to COVID-19. At the same time, dreams like a $5 trillion economy no longer look even a remote possibility. This article takes stock of the likely impact of COVID-19 on the Indian economy in the short term and the long term. A decision-tree approach has been adopted for doing the projections.
Article Details
Unique Paper ID: 156749 Publication Volume & Issue: Volume 8, Issue 3 Page(s): 1134 - 1140
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