Impact of Covid-19 Lockdown on Indian Economy

The Coronavirus, also called COVID-19, a Wuhan born infection has paused almost everything after its scary outbreak in the world. The deadly virus has not only killed more than 200000 globally but has also made the world nothing more than a ghostly place. The hustle and bustle of cities have disappeared while living in villages has further been muted. People are now left with no work other than counting deaths and most advanced country on earth, the USA, is struggling to control its fast rate mortality.

Economies of all countries are going down and scarcity of essential goods and services is adding to the trouble. Indian economy unfortunately is one of them. An economy functions by the activities of people. When they are unable to work, it is foolhardy to expect an economy to function properly. The doors of human movement and trade have been closed. Almost all industries including agriculture, real estate, construction, transporation, manufacturing and even services sector have been barred for doing business.

The production of goods and services isn’t as good as it used to before COVID-19 made us its victim. Traders are constantly loosing their trade, people are becoming unemployed { 14 crore people have lost their jobs in India amid Coronavirus epidemic} and demand for goods and services has gone down. Almost all sectors of an economy have been derailed and as a result there is non-availbility of revenue.

In order to make our economy sustain, all important industries must be allowed to run in green zone areas so that we could at least be able to support our already struggling economy. The prior focus should be given to the agriculture sector so that our people aren’t haunted by starvation. While Coronavirus epidemic is deadly dangerous, there is a great  opportunity to promote our local entrepreneurship especially in agriculture, and manufacturing sectors. Beyond these sectors, entrepreneurs can capitilize on a plenty of Coronavirus opportunities as well. Our economy will not only become vibrant but also we will be in a condition to stop money that goes for foriegn imports and create jobs for our local unemployed people.

We will have to wake up as soon as possible to the reality that our country is still developing and we are yet to get rid of poverity completly. Poor people are crushed under the burden of essential needs. The need of hour is to contain further damage to our economy by ensuring consistent production of goods and services otherwise our GDP that has came from 8% to 4% could suffer more if production remains stagnant.

If actionable steps to restructure our economy aren’t taken on time, we will have to be ready for unemployment crisis that will eventuallly make our people become even poorer. Their life standards will come down, crime rate will increases and social issues will be in full flow.

A better solution to the lockdown that has made our beautiful life hell has to be researched and implemented on the ground. NGOs have to come forward to ensure the availability of food and necessary items to the needy people. In conclusion, if we take concrete steps today, we will surely have to see good results tomorrow.

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