IMPACT OF CORONA VIRUS (COVID-19) ON ECONOMIC GROWTH OF INDIAIMPACT OF CORONA VIRUS (COVID-19) ON ECONOMIC GROWTH OF INDIA
ARPIT SAXENA
Government of Engineering College, Bikaner, India.
MOHAMMAD AZAM
SGIT School of Management, Ghaziabad, India.
DIGVIJAY PANDEY *
Department of Technical Education, IET, Dr. A.P.J. Abdul Kalam Technical University, Lucknow, India.
HO SY HUNG
Fuculty of Early Childhood Education, Hong Duc University, Vietnam.
BINAY KUMAR PANDEY
Department of IT, Govind Ballabh Pant University of Agriculture and Technology, U.K, India.
WEGAYEHU WEGAYEHU ENBEYLE
Department of Statistics, Mizan-Tepi University, Ethiopia.
NOIBI TAJUDEEN OLUWAFEMI
Universidad Autonoma Cuidad Juarez, Chihuahua, Mexico.
*Author to whom correspondence should be addressed.
Abstract
Economic growth depends upon many factors but the most important factor is continuity of economic activities. Economic growth of India and rest of world was immensely affected by Covid 19. This study tries to explain the impact of Corona (COVID-19) on economic growth of India. Many initiatives taken by government of India and RBI to face this adverse effect on economy due to Covid-19. This study used secondary data published by government of India, RBI, WHO, IMF and various other organisation to understand the exact situation and other related issues faced by Indian economuy. Study tries to explain the impact of pandemic on GDP growth rate, Exchange rate, Sensex also on 5 Badly affected sectors of India from Covid-19. Indian economy is now slowly returning on the track as Central government announced the package of Rs. 20 Lakh Crore to boost economy, including Rs 8.01 lakh crore of liquidity measures announced by the RBI since March 2020. This pandemic will leave a long lasting impact on all economies whether they are developed or developing.
Keywords: COVID-19, economic growth, RBI.