DYNAMICS OF CORONAVIRUS PANDEMIC AND ITS IMPLICATIONSON INDIAN ECONOMY

Abstract

Corona virus disease (COVID-19) is a communicable disease that is gaining its pace by each passing day in India. Most of the people infected with the COVID-19 virus experience mild to sensible respiratory hardship. Corona virus has disturbed the global set up and has created mayhem throughout the world including India. It has not only resulted into death of thousands of people but also affected the economy of India in an adverse way. It is a gigantic challenge for the Indian economy because it is already facing the setback of rapidly rising unemployment, rising interest rates and fiscal deficit. The Indian economy is expected to drop $ 4500 million per day during the lockdown, and the informal sectors, daily wages workers and the farmers of the country are constantly facing tremendous uncertainty. There is no doubt that the current pandemic disturbed human lives and global supply chain but also disturbed the effective demand of the economy. The paper attempts to explore the economic impact of Corona virus pandemic in India and the challenges that India faces to fightto control the disease. The present study provides a comprehensive picture of the effect of corona virus pandemic in India, which is highly valuable for understanding of the current pandemic.