WINTER2020-21 Name: K ANKALARAO

Professional and Communication Lab (ENG5002) Reg No: 20MVD0028

Slot: L51+L52 Branch: M.Tech (VLSI Design)
Assessment 5: Report Writing (topic : 1 ques)

Detailed Report on Effect of COVID-19 on Economy in India

Prepared by: Konakalla Ankalarao

Dt: 30-April-2021

Introduction: the purpose of this document is to provide guidance the practice called the
outbreak of COVID-19 brought social and economic life to a standstill. In this study the
focus is on assessing the impact on affected sectors. Such as travels, Stock market, daily
workers and many other thing get loss due to small effect in the each Organization made
fall off the Indian Economy the fig1 show the Indian GDP deviation.

Fig1: Indian GDP from 2018 to 2021(ref: indiangdp)

Regions for Effect of COVID-19 on Economy : There are many reasons that effect the
Indian economy. The main reasons are going to point out here. Duo to This
Covid-19 pandemic most of the Imports and Exports are shut off this effect
Indian NDPA a lot at the same time a lot of local market lost there market
value the effect the Indian GDP too. international and internal mobility is
restricted, and the revenues generated by travel and tourism, which contributes
9.2% of the GDP will take a major toll on the GDP growth rate. Their worries
primarily were loss of job, daily ration, and absence of a social security net. India
must rethink on her development paradigm and make it more inclusive. COVID
19 has also provided some unique opportunities to India. There is an opportunity
to participate in global supply chains, multinationals are losing trust in China. To
‘Make in India’, some reforms are needed, labor reforms being one of them
Sectoral Implications of COVID-19 Pandemic in India : The tourism
industry is the worst affected due to the COVID crisis, internationally that effect the
Indian NDPA a lot. retail industry was worth US$790 billion in India. It accounts for
over 10 percent of the country’s GDP and around 8 per cent of employment. In the
past few years, online retail has seen a very rapid growth and the market
projections had Material and Methods: In a global economy, the economic
consequences of an epidemic in one country are transferred to other countries
because of the integrated supply chains and capital markets. COVID-19 pandemic is
caused by novel coronavirus infection, and scientific research is going on to study
the impact of this infection on the human body and to find a possible cure for the
infection. An IO model consists of a system of linear equations. Each equation
describes the distribution of an industry’s product throughout the economy. Some
other forms the basis for the CLR. The impact analysis for the study was informed
by the I=P×A×T model whereby the “impact” (I) of any group or country on the
environment is a function of the interaction of its population size (P), per capita
affluence (A), expressed in terms of real per capita GDP, as a valid approximation of
the availability of goods and services and technology (T) involved in supporting
each unit of consumption. Globally many methods are developed to measure the
economic changes.

Fig2:  Impact of COVID-19 on Migrant Population(ref Indianeconamics)

indicated a 30 per cent growth in online retail in 2020. Duo this pandemic a lot of
change in the retail industry Public not spending the money on retails and its not
only the region for fall off GDP. Many people lost their jobs and they spending
money only on essential thing. This is one of the major reasons retail industry get
loss, and these reasons causes deviation in the Indian economy. seasonal
migration of labor for work is a pervasive reality in rural India. A migration of
millions of people happens from rural areas to industries, urban markets and
farms.
Fig2: change in SENSEX in 2021(ref: from nation stock exchange)

Conclusion:
The spiraling and pervasive COVID-19 pandemic has distorted the world’s thriving
economy in unpredictable and ambiguous terms. The risk of a global recession due to
COVID-19 in 2020 and 2021 would be extremely high, as it has been observed globally
that the shutdown of all economic activities—production, consumption and trade—to
control the spread of COVID-19 is imminent, However, every crisis brings about a unique
opportunity to rethink on the path undertaken for the development of a human being,
community and society
.
References:
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7505605/
https://tradingeconomics.com/india/stock-market
https://timesofindia.indiatimes.com/india/coronabytes.cms