COVID-19 Pandemic: Probable Impacts on the Selected Indian Sectors

Abstract

The outbreak of the COVID-19 pandemic, an unprecedented setback for the global economy in general and the Indian economy in particular, has stood still in the wheels of the economy. The Indian economy has already been in a perilous situation before the pandemic with extended countrywide lock-down coupled with global economic slump and related disturbance of interest and supply chains, there is likely higher probability that the economy would face prolonged period of stagnation. The longevity along with severity of the health crisis would define the magnitude of the adverse economic impact of the pandemic. Post lock-down preparedness of the government as well as the strategies of the industries would likely play vital roles in defining the severity of the economic adversity. The INR 20 lakh crore stimulus package announced by the central government is surely a way forward to bring liquidity in the economy. The study has attempted to analyze the impacts of the pandemic across some selected sectors of the Indian economy in defining the qualitative and quantitative aspects of the impacts. Sectors such as tourism and hospitality, aviation, MSME and banking among others would be affected severely. The study has compared the condition of these selected sectors in the per-crisis era and that of the present crisis era and has attempted to trace out the ways of turnaround.

Full text

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COVID-19 Pandemic: Probable Impacts on the Selected Indian Sectors
Abstract
The outbreak of the COVID-19 pandemic, an unprecedented setback for the global economy in
general and the Indian economy in particular, has stood still in the wheels of the economy. The
Indian economy has already been in a perilous situation before the pandemic with extended
countrywide lock-down coupled with global economic slump and related disturbance of interest
and supply chains, there is likely higher probability that the economy would face prolonged
period of stagnation. The longevity along with severity of the health crisis would define the
magnitude of the adverse economic impact of the pandemic. Post lock-down preparedness of the
government as well as the strategies of the industries would likely play vital roles in defining the
severity of the economic adversity. The INR 20 lakh crore stimulus package announced by the
central government is surely a way forward to bring liquidity in the economy. The study has
attempted to analyze the impacts of the pandemic across some selected sectors of the Indian
economy in defining the qualitative and quantitative aspects of the impacts. Sectors such as
tourism and hospitality, aviation, MSME and banking among others would be affected severely.
The study has compared the condition of these selected sectors in the per-crisis era and that of
the present crisis era and has attempted to trace out the ways of turnaround.
Key words: COVID-19, Indian economy, Lock-down and Strategy.
JEL: E51, H12, I18, O47.
Authors: 1Mr. Sourav Chakraborty, Ph. D. Research Scholar, Department of Commerce,
Tripura University, Suryamaninagar, Tripura-799022, Mobile No- 9774445711, Email-
s.borty25@gmail.com
2Dr. Rajat Deb, Assistant Professor, Department of Commerce, Tripura University,
Suryamaninagar, Tripura-799022, Mobile No- 9436126014, Email- debrajat3@gmail.com