Formulation of Quantum Economics to predict the GDP of a country

Abstract

An unavoidable lockdown situation due to the spread of COVID-19 around the globe, economics of different countries has been severely hammered irrespective of its previous status. Indian economic growth had a negative slope before the pandemic which certainly is in the worst condition at the present situation due to the lockdown as well as other related activities. The effect of the lockdown on the Indian economy is studied and presented in this article. In this study quantum economic formulation is implemented to know the in-depth economic status of our society along with the traditional method. With the help of quantum economics, the GDP of India during the lockdown period (April – June 2020) and just after the reopening period (July – September 2020) are computed and reported. The computed GDP values in percentage are -0.4 and 2.22 respectively.

Keywords: COVID-19, Indian Economy, Lockdown, Quantum Economics, GDP, GNP, GPI

JEL Classification: C5