COVID-19 Impact on the Indian Economy

[NavI_027]

I feel you bro, I'm sure that most of the countries feel the same thing. Here in our country, our economy is falling and the worse news is that our country's debt to P9.59T as of May . But on the brighter side, fortunately for us that our government already decided to lift ECQ from few province/areas and shift to GCQ where you can move more freely. Essential establishments are now open and manpower is moving already as well. Though there are problems with regards to public transportation due to social distancing protocol but at least we are now slowly going back to normal (or let's say new normal). That's the most important thing right now.

[yohananaomi]

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.

It is natural that as a country with a large enough population and a country that is in the position of developing countries, the impact of the pandemic will be felt. foreign exchange reserves must be issued to meet the needs of purchasing medical devices which are also increasingly difficult to obtain because almost all countries in the world also need medical devices as well.
without the help of donations from large countries and of course loan assistance from the IMF it is certain that many obstacles will be experienced. it is feared that there will be a new pandemic namely hunger due to the inability to fulfill the necessities of life.

I hope the pandemic will pass quickly and all countries can rebuild the economy, and so will India.

[MCobian]

All countries are affected by the COVID19 pandemic, not just the Indian economy. Therefore the government must act immediately
by making various policies to deal with this COVID19. So the economy can recover soon, there are some policies that need to be done
immediately. Such as providing stimulus in the form of direct assistance to the community, providing education for the community to be
able to produce money from home and provide loans for venture capital with low interest.

[elisabetheva]

All countries are affected by the COVID19 pandemic, not just the Indian economy. Therefore the government must act immediately
by making various policies to deal with this COVID19. So the economy can recover soon, there are some policies that need to be done
immediately. Such as providing stimulus in the form of direct assistance to the community, providing education for the community to be
able to produce money from home and provide loans for venture capital with low interest.

It is true what you say that not only is the Indian state affected by the covid pandemic 19, but almost all countries in the world are no exception to developed countries in the economy. but the effects that occur in each country will certainly be different, if India as a developing country is certainly very influential. it is clear that the state must provide assistance to its people who are plagued by financial difficulties for many reasons, otherwise something worse will happen than the pandemic itself.

but there are limits to the state to be able to help and make people able to accept the situation because of a pandemic, if protracted it can be certain that foreign exchange reserves will be eroded and the economy will make the country experience prolonged difficulties. medicine and vaccines are alternatives so that all problems can return to normal, but how long will it be.
 

[Sanugarid]

I feel you bro, I'm sure that most of the countries feel the same thing. Here in our country, our economy is falling and the worse news is that our country's debt to P9.59T as of May

I guess we're on the same country kabayan  Well for me there is nothing wrong to loan from the world bank or other monetary sources coz we really need it right now, I'll be afraid if the government loaned even when there is no pandemic coz basically our economy is soaring high for the past 3 years.

. But on the brighter side, fortunately for us that our government already decided to lift ECQ from few province/areas and shift to GCQ where you can move more freely. Essential establishments are now open and manpower is moving already as well.

Regarding the quarantine, we are now on General Community Quarantine however the things is getting worse as I would imagine and the government is warning us to lift the Enhanced Community Quarantine again for 2 weeks. These things were meant to happen as they are trying to reopen the economy.

Though there are problems with regards to public transportation due to social distancing protocol but at least we are now slowly going back to normal (or let's say new normal). That's the most important thing right now.

I agree, there are some conflict with public transportation since they open almost 50% of the jobs they should have made the public transportation more accessible.

[abhiseshakana]

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.

Why do you come to have thoughts like this? Corona pandemic is something different that in the modern world has never happened. And almost all countries are not ready to face this, so they make mistakes in crisis management. This leadership problem is also related to the ideology of the country adopted and the way leaders resolve crises. Many argue that socialism and authoritarian governance systems are more effective in stemming and fending off corona compared to democratic countries. And there is no guarantee that replacing the regime will change the situation for the better.

[hahay]

All countries are affected by the COVID19 pandemic, not just the Indian economy. Therefore the government must act immediately
by making various policies to deal with this COVID19. So the economy can recover soon, there are some policies that need to be done
immediately. Such as providing stimulus in the form of direct assistance to the community, providing education for the community to be
able to produce money from home and provide loans for venture capital with low interest.

It is true what you say that not only is the Indian state affected by the covid pandemic 19, but almost all countries in the world are no exception to developed countries in the economy. but the effects that occur in each country will certainly be different, if India as a developing country is certainly very influential. it is clear that the state must provide assistance to its people who are plagued by financial difficulties for many reasons, otherwise something worse will happen than the pandemic itself.

but there are limits to the state to be able to help and make people able to accept the situation because of a pandemic, if protracted it can be certain that foreign exchange reserves will be eroded and the economy will make the country experience prolonged difficulties. medicine and vaccines are alternatives so that all problems can return to normal, but how long will it be.

During times of crisis or difficult times because of the pandemic at least aid is not only done by the government, because in addition to the government there are still many institutions that open donations which of course with many movements of any institution that open or make donations like that will reduce the burden on the state and the government to provide direct assistance to the people. These adverse effects will surely occur but to restore the economy even now at least many of the industries have returned to work or work so that this problem will eventually end and the economy will definitely recover.

[carlfebz2]

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.

Covid pandemic doesnt only give out impact  on several countries like India.This is a world wide problem and in talks of economy then you can definitely say that most of countries do really have that hard time.

Business are on hold basically means that theres no work. No generation of income and other sources that will produce out tax which is crucial when it comes to economic state.

If this situation would last up for more months and vaccine isnt available yet then expect that we would even see the worst case scenario.

[Vishnu.Reang]

Why do you come to have thoughts like this? Corona pandemic is something different that in the modern world has never happened. And almost all countries are not ready to face this, so they make mistakes in crisis management. This leadership problem is also related to the ideology of the country adopted and the way leaders resolve crises. Many argue that socialism and authoritarian governance systems are more effective in stemming and fending off corona compared to democratic countries. And there is no guarantee that replacing the regime will change the situation for the better.

Well.. this is true. I am not completely satisfied with the effort from the government, but still I don't want to blame them. This is an unprecedented crisis, and I believe that the authorities don't have much room for manoeuvre. In my case, the central government as well as the state government is run by the same party (I am currently residing in the state of Tripura), and I am somewhat satisfied with their performance so far.

[reliable]

It is going to be bad for the world economy as once the industries slowly start, we will know the real issues. Also, the workers who has left for their hometown would may not come back so shortage of labourers will be another issue.
Also, the cases are rising and will continue to rise with opening of economy means hospitals would face a major issue and this will create chaos across the country.

[Haunebu]

Many argue that socialism and authoritarian governance systems are more effective in stemming and fending off corona compared to democratic countries. And there is no guarantee that replacing the regime will change the situation for the better.

It is true that a regime change won't guarantee that things will be better, but chances are high that they would be better. The leader of India implemented a lockdown without proper planning due to which a ton of migrants suffered.

No matter how bad the situation is, proper planning could have eased the situation, but he made it worse and that is a fact. The Indian government is currently fumbling due to the drastic rise in cases.

On the other hand, China has a higher population count when compared to them and still managed to control the virus cases though they did fake their numbers.

The Australian and NZ governments also handled the situation splendidly. This just goes to show how the state of the current Indian government and why a change in my opinion is essential in the near future.

[Fredomago]

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 so different from our country mate and i believe that according to news worldwide that this same effect happens to almost all the affected countries in the world so Let help the government mate,instead of asking for help let us make our part to bring the economy grow again,i don't know how you will do that but Find the way.

What i am doing is we are keeping the budget a little small now,and closing our belts to ha smaller stomach to fed.

[Findingnemo]

I don't think 12 months are not enough for their recovery because I recently read a thread about Indian government managing this pandemic, they are not really helping the consumers they are only giving loans to manufacturers so when people have no money there will be no demand for the products and also they will keep increasing the taxes which is going to be the burden again to the business and people.

[RealMalatesta]

Every nation in the world got affected from this, of course India did as well but look at even the most advanced nations that we all know to be huge economies, even they got affected. It all started with China obviously because they were the manufacturing place for the whole world and now they are not doing so well, many factories are either closed or even totally got out from China to be somewhere else.

They are the biggest economy that got hurt from this, and from USA to Europe the big countries all got affected and their economies are not doing well at all. At the end of the day we are not going to see any nation coming out of this without any harm at all, we all have to figure out a way to insure our economy against stuff like this because crashes always happens and it always destroys us since we have no insurance.

[darewaller]

They, India, are not the only country that its economy has been backsliding. It’s the same with lots of countries around the world. Same thing you have mentioned here about companies looking for ways to reduce manpower is happening in other countries.

A bank in my country said earlier last month that they are looking to remove about one thousand five hundred of their employees. Lots of people are not happy with what’s happening since the pandemic started. It’s just with time, a lot of things will start to bounce back to their normal state and in better situation. But honestly for that lots of more time must be needed. So, just keeping the faith on God and doing all our responsibility then that alone would be more than enough.

[Nathanz]

Yes, I agree with this. Most of the country that faces huge problem when it comes to economy are those third world countries. They become poorer because of the pandemic.

[STT]

It might seem a little cold to say so but the majority of India is aged under 30, the natural risk to this population on average is not equal to the risk of many aged western populations which may have an average age of over double that.   I think India could even continue to grow during this period and surprise some, its a developing nation still and the path it takes in development is probably still the overriding point to success or failure going forward.

Huge number of laborers have gone back to their villages

I never thought of India as a great exporter in the way China became, its an epic nation that has alot of demand internally that I assume occurs between regions.    India imports alot of oil for example, it lacks the energy resources some countries have to their benefit so this lower oil price is some positive to them.

[fiulpro]

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.

0.2% in the Papers .
One should try and visit any village , go to even a middle class family and ask them how they are doing. Only the government employees are getting their salary, rest people in the private sector are being fired .

People are roaming around looking for a new job ! When there is none. The companies are into big loss and people are taking money from the rich people.

Medical studies needs a practical aspect too , unfortunately I know a guy in the final year who still didn't had the opportunity to learn how to give an injection. The government thinks Quarantine is good , situation is different , Quarantine is making life hell for most people.

They should have done something like :
1 person from the family is allowed to work and free masks would be provided for the same and sanitizers too

I do think one should understand that there are countries which personally called people to make sure they are at home , they gave them sanitizers and masks . Now they don't have any cases since days .

I do think that the pandemic showed us how the government can handle such situations. We need an economic and governmental reset . Most countries does .

The reality is :
The mask that you purchase for 20-40 inr each , is made for 0.50 inr each.
The workers are paid nothing!!

[wxxyrqa]

Indeed, according to official statements by the Government of India, almost all processing plants are in very poor condition due to the coronavirus and have the worst income indicators in the last ten years. accordingly, urban dwellers, whose life was already below the poverty line so far, are in an even worse situation. But if nevertheless returned to the conversation about the Indian economy, it is worth noting the fact that agriculture still managed to show almost 6% growth in agricultural production.

[Harriti]

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.

This is unfortunate for India. All businesses seem to be closing and preparing for a difficult year. This corona virus is an economical virus and it is very contagious. we can only accept pandemics and have the best sense of prevention against it. Staying home and washing your hands often will be the best way to fight the epidemic and prevent it from spreading to more countries. hope that everyone will join hands to combat the covid epidemic so that the economy can return to normal activities.