Coronavirus Disease (Covid-19), Global Recession and Migrants in Indian Economy

Abstract

Coronavirus Pandemic affected every country and turned the World Economy in a distorted shape. The
IMF declared that we have entered a recession – as bad as or worse than in 2009. IMF also expected the
worst hit with great downfall in Asia Pacific region and anticipated zero percent growth in 2020. This is
the worst growth performance in almost 60 years, including during the Global Financial Crisis (4.7
percent) and the Asian Financial Crisis (1.3 percent). Few crucial causes of fast spread of coronavirus or
this global pandemic are discussed in this paper such as, foreign tourist arrivals, population density, air
quality, demography, preparedness, health care and other important socio-economic variables. Some
analytical graphs, trends and regression techniques are used for factually explaining the socio-economic
impact of Covid-19 on the Indian economy. The paper will briefly discuss the problems of displaced NRIs
and migrant workers in India and the post Covid-19 scenario. Information related to Population density,
poor health care per person, biohazards, less awareness among communities, vulnerable population and
government preparedness are analyzed in order to understand the quick spread of this pandemic in India.