Impacts of Covid-19 Pandemic on Indian and World Hospitality Industry: An Overview

Abstract

Study is predestined to emphasis significant impact of covid-19 an epidemic situation in Indian and world’s hospitality industry. Indian economy consists various segments like, rail system, ecommerce industry, automobile sector, restaurants industry, information technology and software services, travels and tourism industry and much of others industry having vital role in Indian economy. Economy was running as was common and suddenly at the top of third quarter of financial year 2019-20 a totally distinctive corona virus entered in Indian Territory and starts to infect the peoples silently. Gradually number of infected persons increased and a worldwide pandemic situation been declared by the concerned authorities. Just within two months it has been spread across the country and survival gone typical in normal course. Hence Indian government decided to finish lockdown nationwide to cope up with this global pandemic situation. Indian economy was sickening thanks to global pandemic situation. Every industry adversely suffering from this Covid-19 a worldwide pandemic. Financial also as convenience crises been arisen. To run and maintain economy every government required funds which is collected in sort of taxes like, tax , goods and repair tax, etc. goods and services tax liveable only on supply of products or services. Now in nationwide lockdown, supply of products and services are completely affected adversely. Hence GST collection also will be affected adversely.