COVID-2019 Review and Its Impact on Indian Economy

Abstract

The study was arranged since 25th, July, 2020 and the major objective of the study was to review the COVID-2019 in India and its impact on its economy. Total 16 articles were downloaded and studied in depth and analyzed the situation and wrote the result. The finding indicates that the COVID-2019 was not serious till 18 April while latter on it became serious. During March, April and May locked down were imposed but due to more population density the corona very easily spread in different cities of the country. According to world meter record on 26th July the total cases number was 1,411,954 and death number was 32,350 while the recovered cases number was 901,956. The closed cases number was 934,306 and the died number was 193 on 26th July. Religious ceremonies have also speed up the corona in the country. Similarly the hospital facilities were also not available in the country and because of this the most aged people were died due to unavailability of ICU beds and medicine. Boundaries were sealed and all business activities were closed and the economic growth reached below .4% of the country which was 5.3 percent in 2019. Therefore locked down has decreased the number of consumer in the country of all goods. The industries produce the goods and products while the consumer demand for that goods, So all industries were closed due to locked down and because of this the unemployment rate was increased in the country and economic growth of all sector were negatively affected and majority people become jobless in India and income of those people were declined and purchasing power reached to zero. Subsequently few packages were given to them while fully facilities were not provided to those unemployed people in the country. The study concluded that Locked down was the main factors which had declined the demand of all goods in the country. It is the economic law when demand decreases the supply automatically decreases and the producer further not produced any goods. Due to lock down all economic sectors were closed which decrease the demand of all goods in the country. Oil price was declined in the country due to less consumption by locked down. Locked down and social distance were the only tool for corona virus controlling but these two factors were against the economic development of India.. On the basis of problems the study recommend that to fully quarantine the boundaries line of the country in the future; Health budget should be increased in the country for construction of hospital and medical facilities; Locked down should be implement in time in the country; Unity in the country is required; Good and train doctors should be appointed in the hospital; Large and big hospital should be constructed in the country where the number of beds are more than the requirement in the time of emergency; Principles of the SOPs should be followed by community of the country; Mask should be wore during locked down; After entering to home hand must be washed with soap; Quality food should be eaten for the development of immunity; Aged people should be kept away from the virus in the country.

Keywords: COVID-2019, Review, Impact, Indian Economy