Impact of Coronavirus on Indian Economy

Abstract

IMF Managing Director Kristalina Georgieva said, “The year 2020 could see the worst global
economic fallout since the Great Depression in the 1930s with over 170 countries likely to experience
negative per capita income growth due to the raging coronavirus pandemic”. The COVID-19
pandemic has impacted economies around the world like no other event that experts can recollect
since the Great Depression. There are many employees who have lost their jobs. This has been
happened not only in India but also in most powerful country like United States due to the COVID-19
pandemic. There are many industrial sectors which have also been affected negatively. CMIE (Centre
for Monitoring Indian Economy) data shows how unemployment in India spiked in the month of April.
The situation is expected to worsen if the situation shows no improvement over the next few months.