Restoration Of Indian Economy After Covid-19 (Selected Issues)

Abstract

The Covid-19 pandemic has affected the human lives and economy in India and across the globe. The novel Covid-19 was disastrous for the whole world and so to India. It was most dangerous for human lives as well as for economy. This pandemic was responsible for death of millions of people across the world. This was a huge threat and challenge for medical field, especially in India. This pandemic was also a huge threat and challenge for Indian economy. The Indian economy was at the lowest level. The nationwide lockdown and several other restrictions imposed by the government had brought serious consequences in the economy. The Indian economy and the world economy was going through the ‘depression’ like situation. The Covid-19 pandemic was so much serious and deadly that, almost all the regions of India and all the nations of the world had imposed several restrictions on all types of activities. In case of Indian economy, almost all transactions were stopped. The ‘lockdown’ was declared in India. The seized economy in India due to deadly virus affected whole economy. The primary, secondary and tertiary sector of Indian economy got affected adversely due to this. The rise in unemployment, rise in consumer product prices, fall in gross domestic product, fall in income and other several serious impacts was observed in Indian economy. After the Covid-19 pandemic, Government of India and state governments have introduced several schemes and policies in order to promote the economy. As a result of this, there has been gradual and slow process of restoration of Indian economy. This paper has explained the stages and process of restoration of Indian economy after Covid-19 with respect to selected issues.