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GDP & Output Change: Potential Impact On Key Areas
GDP & Output Change: Potential Impact On Key Areas
GDP & Output Change: Potential Impact On Key Areas
The potential economic losses in India could vary by sector, with the current drop-offs of
major quarters in sectors such as aviation and low-income sectors such as IT-enabled
services and medical treatments.
Consumption of the current quarter is likely to decrease by more than 30% in sensible
categories, such as clothing and apparel, up to 10% in areas such as food and services.
India is one of the countries most affected by the coronavirus epidemic. The government
has enacted a national ban by the end of March to combat the spread of the disease. The
government has lifted barricades to close things down while its closure is detrimental to the
country's economy. The following are the industries affected by Covid-19 in terms of impact
percentage.
% Impact
Agriculture, Forest & Fishing
Services
Manufaturing
Construction
Public Administration
Hospitality The closure, which was expected to affect revenues until October, has now
shown a difference and only 30 percent of hotel residents by 2021. Currently hotels are
experiencing 80- 85 percent erosion in revenue streams.
Education Sector The epidemic has disrupted the education sector as people are forced to
live at home. Schools & colleges have been closed since the national closure of lockdown.
Impact on the Lives of Street Traders street vendors who rely on being in public places has
been severely affected by unprecedented locks. In the absence of people during the closure,
city traders have lost their source of revenue.
The Port Sector Port provides an important infrastructure to support international trade
and the global economy. During the COVID-19 epidemic, ports have had to adapt to low
volume, staff shortages, implementation of health and safety measures for the township
and coastal workers, and the acceptance of telephone and remote office work.
Automotive Industry Car manufacturers in India are back under pressure as sales have
fallen sharply. Since cars are an option, car sales will largely depend on consumer opinions.
Meanwhile, consumer sentiment is still weak among citizens, and demand for non-essential
items is likely to drop dramatically.
The construction sector The construction industry has begun to deal with disruptions during
the second wave, as a large number of immigrant workers have left urban areas. Staff
shortages have plagued urbanization and urbanization programs; he says, where the virus is
spreading rapidly, they may face significant delays in the completion of pending projects.
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