( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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COVID-19 PANDEMIC IMPACT ON ECONOMIC GROWTH EMPLOYMENT AND POVERTY IN INDIA

    1 Author(s):  BHARAT LAL MEENA

Vol -  11, Issue- 6 ,         Page(s) : 374 - 391  (2020 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

This paper strongly addresses the shrinking down growth rate of India and world countries. The present study is focus on assessing the impact on affected sectors, such as ‘The supply side contagion effect’ will impact manufacturing, food and agriculture, the pharmaceutical industry. Corona virus has brought various segments to stand still. Sectors like tourism, aviation, hospitality and trade will face the first set of challenges; other sectors too will face the cyclic effect. Aviation revenues will come down by USD 1.56 billion. Oil has plummeted to 18-year low of $ 22 per barrel in March, and Foreign Portfolio Investors (FPIs) have withdrawn huge amounts from India, about USD 571.4 million. While lower oil prices will shrink the current account deficit, reverse capital flows will expand it. Rupee is continuously depreciating. MSMEs will undergo a severe cash crunch. Moody’s has downgraded India’s growth to 5.3% in 2020 due to downside risks of Covid-19, the slowest in 11 years. As per

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