The New Normal; Analysing The Effect of Covid-19 Intervention on Financial Inclusion Regarding Financial Literacy in India
Author(s):
Disha Rani Yadav, Dr Amit Manglani, Suraj Patel
Keywords:
fiscal stimulus, Macro and Micro economy, COVID-19, Investment demand, Consumption.
Abstract
Everything has taken a 360 degree turn because of the circumstances in pandemic. This Paper investigates the impact of various government interventions and Financial Literacy including financial inclusion on the spread of COVID-19 in India. It finds the stricter interventions majorly in social gathering, public events and mask requirement help to mitigate the severity of the pandemic significantly in the region. Everything became digitalized. Paper examines the pre-pandemic slowdown and subsequent contraction, in Indian Economy. Taking application of an analysis of a broad macroeconomic and sectoral fundamentals ,the paper argues that a notable lack of financial literacy and financial inclusion had already persisted before the pandemic ;COVID-19 heightened those trends .Henceforth , India’s economic revival will be the crucially dependent on the demand generation by direct government fiscal intervention .Papers outline the pre and post government financial decisions and financial awareness among the residents of India. Data only till March 2020 has been taken, as the pandemic resulted in FY21 being an unusual year. Adapted a questionnaire for achieving the purpose of financial literacy and awareness level among residents in India. As we look out for normalized times ahead, policymakers will look for data trends in a normal situation.
Article Details
Unique Paper ID: 159464

Publication Volume & Issue: Volume 9, Issue 11

Page(s): 1108 - 1113
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