Question

write any five arising due to spread of covid-19 pandemic and has an effect on indian economy


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Answer 1

Answer:

The constantly evolving Covid-19 pandemic has cast a long shadow on the global economy, which was already jolted by the US-China trade war . With fears of a global recession on the horizon, Covid-19 appears to have dealt the global economy a triple-whammy: massive supply-chain related disruptions across a range of industries from containment efforts in China and other economies; amplification of demand-side shocks due to uncertainties as well as lockdowns and other containment measures domestically; and propagation of financial shocks and the US dollar credit crunch.

This global shock comes at a particularly inopportune time for India, as the economy was already on a very concerning downward trajectory since the turn of FY 2018-19 (Chart 1). More specifically, on a quarterly basis, India’s growth rate fell from around 8 per cent in Q4 FY18 to a new low of 4.5 per cent in Q2 FY20.

Answer 2

COVID 19 has impacted the many lives and created constraints on the economy of nations.

Explanation:

• There are many types of problems that have been created due to the spread of the virus and have affected the Indian economy.

• The first issue is that of health status, which has fallen and needs better infrastructure and planning as to date no country has claimed to completely successful incomplete elimination of virus or made any antidote of it.  

• The spread of the virus has impacted the functioning of government and private hospitals and other emergency services as the doctors are mostly busy with corona patients.

• Secondly, the spread of this deadly disease has to lead to a shutdown in various agencies of trade and commerce and industries like the entertainment have been badly affected.

• The third impact of this is the rise of unemployment and the gap between the rich and poor has increased. Most of the work is performed online and for that India does not have an online economy.

• Education and academic institutes are affected very much due to this and the government has shut down the system which will create bottlenecks later on.

• Due to the pandemic large demand for online products has created shortages in supply and an increase in the prices of basic items.

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