Impact of Corona Virus(COVID-19) on the Indian Economy – I

COVID-19

The outbreak of COVID-19 is expected to have a very significant impact on the world economy in general and the Indian economy in particular. The impact ranges from recession, supply chain disruptions and is expected affect trade for at least the next two years.

The rating agencies have slashed the Indian GDP growth projection for the current financial year from 5.2% to 2.5%. While Crisil has cut its base GDP growth forecast from 5.7% to 5.2% in 2021, S&P has reduced the Indian GDP growth projection from 7% to 6.9% in 2022. The projections of Fitch ratings are starker with GDP growth projection of 5.1%, 6.4% for 2021 and 2022 respectively.

The Indian industry had urged relief measures namely, fiscal and monetary stimulus measures to deal with the impact of COVID-19 on the Indian economy. The government of India has announced fiscal stimulus measures and has constituted an economic response task force to deal with the situation. On its part, RBI has announced a series of monetary measures to contain the impact of COVID-19 on the Indian economy.

According to a recent Crisil study, the most vulnerable sectors, in terms of sector revenues, are Cars, commercial vehicles, auto components, two wheelers, tyres, airlines, cotton yarn, gems & jewellery, sea food, construction, leather, aluminium and steel. The sectors that are reasonably resilient to weather the COVID-19 storm are telecom, fertilizers, agri-chemicals, FMCG, IT services, power, hospitals and pharmaceuticals.

By Dr. Srikanth Parthasarathy
Associate Professor, Rajalakshmi School of Business, Chennai
Email: srikanth@rsb.edu.in

Share with friend

  1. I¦ve learn several excellent stuff here. Certainly price bookmarking for revisiting. I surprise how so much effort you put to create this type of fantastic informative website.

  2. you’re really a good webmaster. The site loading speed is amazing. It seems that you are doing any unique trick. Moreover, The contents are masterpiece. you have done a great job on this topic!

  3. I haven’t checked in here for a while because I thought it was getting boring, but the last several posts are good quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂

  4. Wonderful work! This is the type of information that should be shared around the net. Shame on Google for not positioning this post higher! Come on over and visit my web site . Thanks =)

  5. hey there and thank you for your information – I’ve certainly picked up something new from right here. I did however expertise some technical points using this website, since I experienced to reload the web site a lot of times previous to I could get it to load properly. I had been wondering if your web host is OK? Not that I am complaining, but sluggish loading instances times will sometimes affect your placement in google and could damage your high-quality score if ads and marketing with Adwords. Anyway I am adding this RSS to my e-mail and could look out for a lot more of your respective exciting content. Ensure that you update this again very soon..

  6. We stumbled over here coming from a different web page and thought I might as well check things out. I like what I see so i am just following you. Look forward to looking at your web page repeatedly.

  7. Right now it sounds like Drupal is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?

  8. Pingback: albuterol inhaler
  9. Pingback: viagra from india
  10. Pingback: canadian viagra
  11. Pingback: generic sildenafil
  12. Pingback: viagra for sale
  13. Pingback: viagra 50mg
  14. Pingback: Google
  15. Pingback: cialis for sale

Leave a Reply