IMPACT OF COVID 19 ON INDIAN ECONOMY & RBI MEASURES TO TACKLE COVID – 19

Abstract

The worldwide macroeconomic viewpoint is cloudy with the COVID-19 pandemic, with huge disengagements in worldwide manufacturing, supply chains, exchange, and the travel industry. Money related markets over the world are encountering outrageous unpredictability; worldwide item costs, particularly of unrefined petroleum, have declined pointedly. COVID-19 would affect financial action in India straightforwardly because of lockdowns, and through second-round impacts working through worldwide exchange and development. The effect of COVID-19 on expansion is questionable, with a potential decrease in food costs prone to be balanced by potential cost-push increments in costs of non-food things because of gracefully interruptions. India has gone for around two-month lockdown, the economy may see a sharp log jam in the following quarters. Interruptions in the development of products and enterprises, fall in worldwide and nearby demand, tremendous load on banking and financial services will inimically impact development. As there is little detectable quality on to what degree the pandemic would last, the monetary impact could stretch out from a delicate downturn to a genuine stoppage. This paper discusses RBI issues and difficulties during Pandemic occasions of Covid – 19. The effect of lockdown on macroeconomic variables such as GDP, Forex reserves, Exchange rate, Bank Repo rate, and retail inflation is examined. The Government of India has just prompted corporates to ensure occupations. The paper proposes and suggests considering the difficulties ahead.