Impact Of Covid-19 On Indian Economy In 2020 With Relation To Aviation Sector

Abstract

The sudden unanticipated outbreak of the Covid -19 has shattered almost every single economy of the world.  The developing economies are facing the heat most, and as far as Indian economy is concerned it’s an unprecedented shock to Indian economy. The economy was already in a perilous state before Covid -19 struck.

The Novel Coronavirus COVID-19 has infected more than 93Lakh people in 213 countries and 4 Lakh 56 thousand people in Indian subcontinent, thus translating into a scourge confronting all of humanity, impacting lifestyles, businesses, and the assumption of common well-being that all people have largely taken for granted.

Even before the onset of the global pandemonium, Indian economy was confronting turbulences; the condition has now been aggravated by the demand, supply and liquidity shocks inflicted by COVID-19 at the commencement of new financial year.

Although this problem is almost universal, but it’s impact on emerging markets may vary owing dependence of these economies on the world markets for exports and imports, for finances, technology and investments. These economies are likely to face a protracted period of slowdown of economic activity