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  Authors

Priya verma

  Keywords

economic crisis,COVID-19,unemployment,lockdown,limited resources,demand and supply,migrant labour

  Abstract


Today, India is facing its biggest crisis.it is a very hard decision to lock down the country entirely for much longer period which affects the production of goods and services, decrease in the human capital, decrease in the labor productivity etc.huge number of people pushed into dire poverty and loss of their livelihood.millions of migrants workers are facing a crisis in India which reduces their ability to keep earning and remitting money. due to social distancing and lockdown business are mostly shut and a lot of migrants workers are either unemployed or waiting for something positive to happen.according to the center for Monitoring India Economy(CMIE) said that India's unemployment rate rose to 26.2% in the third week of April and the employment rate fallen from 40% in February to 26%.the labor market are under equal stress in both the rural and urban area. the rate of unemployment in rural India stands higher at 26.7% as against urban i.e 25.1%.stock and bond market are likely to fall more. balance of payment difficulties could come up. India needs to manage all this very carefully. as per the various sources of government such as the ministry of statistics and program implementation and commission, the government of India provides the data of Indian people engage in agriculture sector I.e53- 55%, industry sectors i.e 28% and service sector I.e17-18% are seriously affected.peoples engaged in the manufacturing and construction are most vulnerable for job losses, livelihood, and food services, according to crisil rating.there is a medium impact on the service sector and agriculture is least affected. but a significant decline in all the sectors which has been additional pressure on the economy.it shows a very drastic reduction in our economic growth.

  IJCRT's Publication Details

  Unique Identification Number - IJCRT2008443

  Paper ID - 198349

  Author type - Indian Author

  Page Number(s) - 3717-3723

  Pubished in - Volume 8 | Issue 8 | August 2020

  DOI (Digital Object Identifier) -   

  No Of Downloads - 1460

  Author Country - 803101, India, NALANDA, NALANDA, India, Commerce

  Publisher Name - IJPUBLICATION | www.ijcrt.org | ISSN : 2320-2882

  E-ISSN Number - 2320-2882

  Published Paper PDF : - http://www.ijcrt.org/papers/IJCRT2008443

  Published Paper URL: : - http://ijcrt.org/viewfull.php?&p_id=IJCRT2008443

  Published Paper PDF Downlaod: - download.php?file=IJCRT2008443

  Cite this article

Priya verma,   "POTENTIAL IMPACT OF COVID-19 ON THE ECONOMIC GROWTH OF INDIA", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.8, Issue 8, pp.3717-3723, August 2020, Available at :http://www.ijcrt.org/papers/IJCRT2008443.pdf

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