The Perspective Of Indian Economy With Post Covid-19 Scenario

Authors

  • Dr. Binita Verma

Abstract

COVID-19 is the global pandemic that shook the world way higher than any nuclear attack
would have been. The economy of a country is one of the most important parameters to run the smooth
functionality of the overall ecosystem. As per the report of the ministry of statistics, India’s growth in
the fourth quarter of the fiscal year 2020 to 3.1%. As per the World Bank, the pandemic has suddenly
increased India’s economic risks. The World Bank and rating agencies revised India’s growth for the
year 2021 and it is shocking to know it is the lowest of the last three decades. The degradation in GDP
strongly reflects the deep recession and a big problem coming ahead. During lockdown around 14
crores (140 Million) people lost their jobs and many got their salaries cut. India lose 32,000 crores
daily during lockdown of 21 days [1]. Our paper deals with several countermeasures against dropping
the economy, the steps taken by the Indian government to resolve the issues. We also look over the
solutions implementable as per the Indian perspective.

Published

2020-12-01

Issue

Section

Articles