Political steps taken,boundation and various workd wide political issue wuth respect to covid-19. In essay
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The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. The World Bank and rating agencies had initially revised India's growth for fiscal year 2021 with the lowest figures India has seen in three decades since India's economic liberalization in the 1990s. However after the announcement of the economic package in mid-May, India's GDP estimates were downgraded even more to negative figures, signalling a deep recession. On 26 May, CRISIL announced that this will perhaps be India's worst recession since independence. State Bank of India research estimates a contraction of over 40% in the GDP in Q1 FY21.Within a month, unemployment rose from 6.7% on 15 March to 26% on 19 April.[1] During the lockdown, an estimated 14 crore (140 million) people lost employment while salaries were cut for many others.[1][2] More than 45% of households across the nation have reported an income drop as compared to the previous year.[3] 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.[4][5] Under complete lockdown, less than a quarter of India's $2.8 trillion economic movement was functional.[6] Up to 53% of businesses in the country were projected to be significantly affected.[7] Supply chains have been put under stress with the lockdown restrictions in place; initially, there was a lack of clarity in streamlining what an "essential" is and what is not.[8] Those in the informal sectors and daily wage groups have been at the most risk.[9] A large number of farmers around the country who grow perishables also faced uncertainty.[8]
Vendor of greens, essential supply chains and logistics. Life under lockdown. Bangalore spring 2020.
Major companies in India such as Larsen & Toubro, Bharat Forge, UltraTech Cement, Grasim Industries, Aditya Birla Group,BHEL and Tata Motors have temporarily suspended or significantly reduced operations. Young startups have been impacted as funding has fallen.Fast-moving consumer goods companies in the country have significantly reduced operations and are focusing on essentials. Stock markets in India posted their worst loses in history on 23 March 2020.However, on 25 March, one day after a complete 21-day lockdown was announced by the Prime Minister, SENSEX and NIFTY posted their biggest gains in 11 years.
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