Social and Economic Impact of Covid-19 on India and Recovery Potential

Author : Mada Sarath Kumar , Mada Sai Gupta

The entire world recorded more than 6.15 Million Covid-19 positive cases, where as India recorded more than the 2,00,000 positive cases and more than 5,000 people were died from Covid-19. The countries are being maintained the lockdown to protect themselves from the Covid-19 as per the instructions given by the WHO. Whereas India also maintained the Lockdown. IMF released the GDP growth rate of World and India, that is -3.8% and 1.9 for the year 2020 respectively. Asian Development Bank (ADB) staff released the data an amount of contribution lost by world and developing Asia that is $77 Billion to $347 Billion and $15 Billion to $42 Billion respectively, because of this Covid-19 lockdown. At present entire world become the global village, the trade transactions among the countries is being happened. It was broken by the Covid-19. Some countries announced stimulus package for increasing the liquidity position. The Covid-19 impacted not only economically but also socially. Socially, Covid-19 impacted somewhat positively but to face the overall impact it needs to follow an effective guidelines. To face this impact our study recommends SEP Suggestions. SEP contains SIA Suggestions and PEC-MEC Suggestions.

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