Economic Affairs
  • Year: 2020
  • Volume: 65
  • Issue: 3

COVID-19 pandemic and its impact on indian and global economies

1ICAR-National Academy of Agricultural Research Management, Hyderabad, India

2Odisha University of Agriculture and Technology, Bhubaneswar, Odisha, India

*Corresponding author: ravichandran@naarm.org.in (ORCID ID: 0000-0002-7581-3781)

Online published on 15 October, 2020.

Abstract

COVID-19, a pandemic disease caused by the coronavirus originated from China has been ravaging the entire global nations due to which the entire global economy is in the doldrums. The disease has been there in the entire globe since November 2019 and is expected to damage human beings and the world economies for a long time. In this article, we discuss the damage caused by the deadly virus to the Indian economy and the world economy as a whole. A word of caution is that until the vaccine is invented, the economies world will suffer to the maximum extent since most of the major economies of the globe are locked down due to the pandemic.

• The article highlights the implication of the COVID-19 pandemic outbreak on the Economy of India and the world at large.

Keywords

COVID-19, Coronavirus, Global economy, India