COVID-19 Impact on the Indian Economy

[rk8814719]

Under Covid-19 impact India businesses and economies function.The next 12 months will be difficult.Many businesses will struggle some may even die. But as with economic adversities of the past new industries will emerge bringing with it renewed hope of recovery.covid is having a deep impact on Indian businesses over the coming month's jobs are at high risk because firms are looking for some reduction in manpower.Indian economy that was visible towards the end of 2019 and early 2020 The revised Gdp estimates for India downwards by 0.2 percentage in year its big down fall.

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[BIT-BENDER]

Not just India, economical regression is visible on many countries. I choose not to think of the road to recovery for countries because at it is, it looks gloomy, let no be carried away with some invests -peaceful protests, return of some spots behind closed doors- the pandemic has not all of a sudden vanished, building back the economy of countries putting in consideration how to go about even with the virus, is now time to structure economical plans that acknowledges the presence of the pandemic, we can't just keep Waiting endlessly for the virus to pass away, jobs are being lost not only in your country India but everywhere else.

[snipie]

Not just India, economical regression is visible on many countries.

Yeah true, unemployment rate surged in many countries even in the biggest economy. China first but it seems to recover. USA having all time high unemployed people, some established car factories are kicking licenced employers to cut losses, many factories closed around the world and filling bankruptcy... It is a worldwide problem. For sure India is expected to suffer more than many countries since it already has so many social difficulties but also it has millions of people working abroad stuck without payments which make things just more difficult.
It is kind of lesson, hard one, so we can think otherwise about securing jobs, economy and take care of our (world) broken health system, among many other things ofc...

[Chrystora123]

when talking about which countries are most affected by corona, then I say the US is suffering the most.  Indian government must impose "NEW NORMAL" which will soon be done by many countries because 'LOCKDOWN "is not an effective policy for the second-most populous country in the world after China. The next 12 months is a difficult thing for all citizens in the world, especially residents whose business is most affected by "COVID-19" such as the hotel, tourism, restaurant business, and even transportation..

[rk8814719]

Yes True All World Economy Impact Covid-19 All business Close during lockdown last 3 months not any supplies chain full stop it's big impact business and unemployment   India's Company fire's more than 10 lac people so so big economic crisis every country.

[Kemarit]

Now the question is how countries are going to survived in this new norm. All business have slowly coming back, however, it is very different. Restaurants and anything food related, you can't just sit on the table and order food, almost all services are done and 'to-go'. Companies are laying off employees, but there could be sector that will boom in this intra-pandemic scenario.

I think every countries can recover and will adapt, humans are so resilient that we can adjust at any situations, even the worst in our history. It might take some time though, the thing is that we are moving now and that is a good sign that there are hope for a recovery.

[Taskford]

Now the question is how countries are going to survived in this new norm. All business have slowly coming back, however, it is very different. Restaurants and anything food related, you can't just sit on the table and order food, almost all services are done and 'to-go'. Companies are laying off employees, but there could be sector that will boom in this intra-pandemic scenario.

There are countries who starting to open up their major and essentials businesses so I think this will be a good start for any countries to revive their economies although some of the countries especially on 3rd world category maybe they will struggle but at least they can kick up little by little and if they will not be in sensitive for matters maybe loaning some huge amount of money in world bank will help to cater the needs of certain areas which is affected and to help them to stand up again.

[btc_angela]

Now the question is how countries are going to survived in this new norm. All business have slowly coming back, however, it is very different. Restaurants and anything food related, you can't just sit on the table and order food, almost all services are done and 'to-go'. Companies are laying off employees, but there could be sector that will boom in this intra-pandemic scenario.

There are countries who starting to open up their major and essentials businesses so I think this will be a good start for any countries to revive their economies although some of the countries especially on 3rd world category maybe they will struggle but at least they can kick up little by little and if they will not be in sensitive for matters maybe loaning some huge amount of money in world bank will help to cater the needs of certain areas which is affected and to help them to stand up again.

Everyone is really going on a lot of struggles here, even first world countries like USA will take a lot of time to bounce back. It is even declared the worst economic crisis for them. 3rd world countries though has the worst impact, as we all know that there are a lot of this so called "underground economies" there. But as we slowly saw the easing from the lockdown, little by little we are going to see recovery itself. And every world governing bodies like World Bank should be in forefront to help countries to bounce back.

[salamat700]

The same situation is happening all over the world whether one's country can be big and small. Maybe there are those who are resilient enough, and so they can easily bounce back but certainly there will be countries who may find it hard to get back to the pre-Covid19 era. Now, I am wondering...will it mean that in a country like India, there will be a more healthy cryptocurrency market or will the current economic meltdown be hampering the industry's growth and prospects?

[Wexnident]

Even the US is struggling to try to return everything back to normal, what more for those countries that were hit by the virus pretty hard. I just hope they actually properly face the steps for proper responses towards the repercussions of the effects of the Pandemic. Even if they do start opening up businesses and the like slowly, I honestly doubt it could return to even 50% of the normal revenue in a year. The virus is still there, it still exists, and honestly, it's kind of difficult to assume that it's gone even without new infections, hence the strict health policies still being implemented.

Now the question is how countries are going to survived in this new norm. All business have slowly coming back, however, it is very different. Restaurants and anything food related, you can't just sit on the table and order food, almost all services are done and 'to-go'. Companies are laying off employees, but there could be sector that will boom in this intra-pandemic scenario.

I think every countries can recover and will adapt, humans are so resilient that we can adjust at any situations, even the worst in our history. It might take some time though, the thing is that we are moving now and that is a good sign that there are hope for a recovery.

That is if the higher-ups actually help the recovery. It's kind of sad how some countries are undergoing problems that directly show how the government is incapable. Look at US, when they should be concentrating all efforts for the recovery of the pandemic, the actions of the government instead lead to the rally for racism. Not saying that it's wrong tbh, just that the government failed to address the problem which leads to the rally right now.

[YOSHIE]

Isn't the Indian government currently announced and will try to overcome the corona virus pandemic problem that is currently sweeping India to overcome the current situation.

As far as I know, various actions have been taken by India, ranging from strengthening food security, health to positive impact areas, extending the time to pay taxes so as to economic assistance for the poor, is it not an action that the government of India is responsible for its people in overcoming the current pandemic problem in india.

Many things that have been done at this time by the government of india steps against a pandemic economy including protecting companies during a pandemic from minimizing imports, all that is produced domestically will be expensive and also change all foreign investment policy rules to increase local investors during the pandemic, is this not enough for the people of India that have been done by the local government.
I think this is a wise thing to do there by India to overcome the economy in India, during this pandemic.

[Haunebu]

when talking about which countries are most affected by corona, then I say the US is suffering the most.  Indian government must impose "NEW NORMAL" which will soon be done by many countries because 'LOCKDOWN "is not an effective policy for the second-most populous country in the world after China.

If there was an alternate solution, the world governments would have already adopted it, but lockdown is the only effective solution which is why it is still a necessity currently.

will it mean that in a country like India, there will be a more healthy cryptocurrency market or will the current economic meltdown be hampering the industry's growth and prospects?

The Supreme Court decision that countered the RBI decision recently already helped create a healthy cryptocurrency market in India at present.

Also, the current economic crisis has already impacted the industry in a negative way which is why both your statements are true.

[Latviand]

when talking about which countries are most affected by corona, then I say the US is suffering the most.  Indian government must impose "NEW NORMAL" which will soon be done by many countries because 'LOCKDOWN "is not an effective policy for the second-most populous country in the world after China.

If there was an alternate solution, the world governments would have already adopted it, but lockdown is the only effective solution which is why it is still a necessity currently.

US really suffered the most in terms of the economy and financial status, they are not prepared and the spread of the virus in their country is extremely fast. No one is expecting that this virus will strike almost all of the countries around the world. Even India, which is the 2nd largest population are having a hard time controlling the virus in their country.

They should really follow the LOCKDOWN and the rules and regulation that are enclosed to it. People should become more disciplined so that the government will become less pressure in supporting its community and the people who are relying on them. The world governments should help each other recover and grow, they should support each other to survive this pandemic and lessen the intensity that it brings to us.

[plvbob0070]

Almost all countries are affected by this virus, what more in India since it has the most number of cases of COVID-19 in Asia, and it's really affecting the country's economy.  Most countries with high cases are also struggling with unemployment due to the lockdown and closing of businesses. But as far as I have seen, even when most businesses are closed, cases are still increasing so it means that it's not enough to deal with the pandemic.

After months of lockdown, some businesses are now starting to reopen to get back what they have lost which is we are still not sure if it will be a good idea or not. They are reopening businesses since the longer most businesses are not functioning, the economy might crash. But there is still a risk that once most businesses are opened, cases might increase more. We also have to adapt to the new normal while COVID is still there and wait until the vaccine is available to fully recover from all of the losses.

[Alert31]

Under Covid-19 impact India businesses and economies function.The next 12 months will be difficult.Many businesses will struggle some may even die. But as with economic adversities of the past new industries will emerge bringing with it renewed hope of recovery.covid is having a deep impact on Indian businesses over the coming month's jobs are at high risk because firms are looking for some reduction in manpower.Indian economy that was visible towards the end of 2019 and early 2020 The revised Gdp estimates for India downwards by 0.2 percentage in year its big down fall.

Not only India ,but almost all countries are affected with this covid19 pandemic,and even those with few numbers of affected is now struggling with their economy,specially those country with more affected are more struggling in their economic status. Many are unemployed due to covid19 and every city,and barangay are implementing lockdown and there are limited transportation. This is a very difficult situation not only in India but to all of us. Hoping and praying that this pandemic will end because end of this year and those experts can find a cure for this virus.

[abhiseshakana]

I do not really understand the condition of the Indian economy, it's just that news circulating in my country, including India which is predicted to still grow in this pandemic by many world financial institutions. The impact of the pandemic made many countries combine handling policies and large economic stimulus. This is caused by the escalation of its spread which also affects the economic growth of a country.

The current global uncertainty is difficult to guess. The challenges faced are new, but dynamic global conditions often have different effects on other countries. The impact of the Coronavirus needs to be thoroughly assessed and solved so as not to have a worse impact on the Indian economy. The steps generally taken by all countries comprise fiscal instruments whether they provide tax incentives or tax breaks. Then provide additional spending generally in the field of health and social assistance, and also helps the business world, including protecting the financial system so that it does not experience a potential crisis.

A number of major countries in the world economy are also cohesive. The United States recorded Q1 2020 economic growth of -4.8%. While the European region also recorded Q1 2020 economic growth of -3.8%. Even China experienced a downturn in Q1 2020 economic growth of -6.8%. Global economic growth is predicted to contract. A high level of uncertainty indicates that there is still a downside risk to the projections.

At the end of 2019, India released a report of economic growth slowing due to global uncertainty. India's economic growth in the third quarter of 2019 recorded only 4.5 percent. Whereas in the previous quarter, the Indian economy still recorded growth of five percent. Economic growth in India even continues to decline when compared with previous years.

The so-called rational people usually try to calculate the uncertainty of past patterns, and made trends and then little forecasts to be the basis for the government to make decisions. Today we believe that the projections are like this, then tomorrow something happens that changes completely.

[Haunebu]

At the end of 2019, India released a report of economic growth slowing due to global uncertainty. India's economic growth in the third quarter of 2019 recorded only 4.5 percent. Whereas in the previous quarter, the Indian economy still recorded growth of five percent. Economic growth in India even continues to decline when compared with previous years.

The Indian economy has been on a downtrend ever since BJP took over based on my research. Corona just made things a whole lot worse.

Unemployment rates are very high and the lockdown has clearly been ineffective since India is currently the 5th worst affected country and will probably reach the 4th position at this pace pretty quickly overtaking UK.

I feel that India needs a better leader basically to overcome future obstacles. Poor handling of this crisis, Demonetization, GST etc prove that a change is essential in my opinion.

[bocyaj]

Under Covid-19 impact India businesses and economies function.The next 12 months will be difficult.Many businesses will struggle some may even die. But as with economic adversities of the past new industries will emerge bringing with it renewed hope of recovery.covid is having a deep impact on Indian businesses over the coming month's jobs are at high risk because firms are looking for some reduction in manpower.Indian economy that was visible towards the end of 2019 and early 2020 The revised Gdp estimates for India downwards by 0.2 percentage in year its big down fall.

Not only India ,but almost all countries are affected with this covid19 pandemic,and even those with few numbers of affected is now struggling with their economy,specially those country with more affected are more struggling in their economic status. Many are unemployed due to covid19 and every city,and barangay are implementing lockdown and there are limited transportation. This is a very difficult situation not only in India but to all of us. Hoping and praying that this pandemic will end because end of this year and those experts can find a cure for this virus.

Covid-19 not only had impact on Indian economy,it had impact all over the world.We don't know what will happen after this corona ,it may give positive impact by the more and more demand or negative impact too.Because the saving was used by people for their basic needs .

[avikz]

Under Covid-19 impact India businesses and economies function.The next 12 months will be difficult.Many businesses will struggle some may even die. But as with economic adversities of the past new industries will emerge bringing with it renewed hope of recovery.covid is having a deep impact on Indian businesses over the coming month's jobs are at high risk because firms are looking for some reduction in manpower.Indian economy that was visible towards the end of 2019 and early 2020 The revised Gdp estimates for India downwards by 0.2 percentage in year its big down fall.

India has been impacted big by Covid induced lockdow. Many people lost their jobs due to this action by the government and now the government has no plan to bring back the economy on track. Instead of reducing taxes and other burdens, the government has just made loans a little cheaper. But with current business outlook, industries are not willing to take more loans because there no guarantee for their product demand.

There's only two ways to come out of this situation -
1. Limit imports and produce internally
2. Stop using foreign made goods and services

This are the only ways which may help Indian economy to survive. This is the first time I agree to Modi's "Aatmanirbhar Bharat".

[Vishnu.Reang]

Being an Indian, I would say that right now people have only noticed the tip of the iceberg. A massive economic collapse may happen during the next 12 months and the authorities are not prepared for it. Tens of millions of people have lost their jobs. Huge number of laborers have gone back to their villages, and as a result the infrastructure projects have been stalled. Many of the ordinary people are using up their savings and it is not going to last for long. Unless some miracle happens in the next 2-3 months, I am expecting an economic and social meltdown.