Corona Virus: An Economic Cataclysm or A Visual Aid to the Lucrative Growth in India

Authors

  • B. P. Singhraul, Yashasvi Batwe

Abstract

The devastating pandemic Novel Coronavirus Disease (COVID-19) outbreak has entirely affected not only human lives but majorly the world economy. It is a history that in every hundred years the world encounters serious epidemic which destroys it emotionally, biologically, economically and financially. This major economic disruption has affected the world’s supreme powers like USA, United Kingdom, China (the epicenter), European nations and many more and is rapidly spreading in India now. According to IMF, the World Economy is facing a serious threat after the Great Depression of 1930. It has also claimed and forecasted that first time in sixty years the growth rate of Asia might be 0% and the Global GDP might fall up to 3%. But it has also observed that India might lead the situation with the fastest growth. There is a decline phase in developed and developing nation with the negative growth rate but the two countries India and China might a see positive growth in the future. This paper focuses on the effect of pandemic in India and whether this fall will lead to more depression or will it be an aid for the nation to polish its economy taking the advantages of the situation irrespective of the downfall in the Global GDP. The study is completely based on secondary data sources.

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Published

2020-05-09

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Section

Articles