Cascading Effect of COVID 19 on Indian Economy

Abstract

The outburst of coronavirus namely COVID-19 has agitated world economy and widening its presence in India. The origin of the disease and its influence on the economy is uncertain and because of this, policy-makers find it difficult to understand the feasible economic outcome. This paper provides the review of how COVID-19 affects different sectors of India. Till date, this disease has affected worldwide 4 million people and 291,725 death is reported. This paper highlighted that aviation, construction, financial sectors and MSME’s are majorly impacted, as everything is shut down, and no presence monetary and labour support. Whereas, Oil and Gas, education, consumer, retail and internet business, entertainment and telecom industry are also affected but less as compared to majorly affected sectors. As per the report submitted by Barclays Indian economy will be facing estimated loss of $26 billion per week because of shutdown factories and offices. Finally, with the changing scenario and market structure V or U shaped recovery are expected.