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Answers
Explanation:
Impact of covid 19 in India as well as in the world
1)Sharp rise in unemployment
2)Stress on supply chains
3)Decrease in government income
4)Collapse of the tourism industry
5)Collapse of the hospitality industry
6)Reduced consumer activity
7)Plunge in fuel consumption. Rise in LPG sales.
Impact of covid 19 in India in detail:-
The Indian economy was expected to lose over ₹32,000 crore (US$4.5 billion) every day during the first 21-days of complete lockdown, which was declared following the coronavirus outbreak.[8][9] Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional. Up to 53% of businesses in the country were projected to be significantly affected.Those in the informal sectors and daily wage groups are the most at risk.A large number of farmers around the country who grow perishables are also facing uncertainty.Various businesses such as hotels and airlines, are cutting salaries and laying off employees.however The next 12 months will be difficult. Many businesses will struggle, some may even die. But as with economic adversities of the past, new industries will emerge bringing with it renewed hope of recovery. Eventually, things will go back to normal. Just that we’ll have to change the definition of normal.
world conditions due to covid 19:-
Amid the coronavirus pandemic, several countries across the world resorted to lockdowns to “flatten the curve” of the infection. These lockdowns meant confining millions of citizens to their homes, shutting down businesses and ceasing almost all economic activity. According to the International Monetary Fund (IMF), the global economy is expected to shrink by over 3 per cent in 2020 – the steepest slowdown since the Great Depression of the 1930s.
Now, as some countries lift restrictions and gradually restart their economies, here’s a look at how the pandemic has affected them and how they have coped.