Sector Wise Impact of COVID-19 on the Indian Economy and Implementation of Possible Strategies for Financial Recovery

The COVID-19 pandemic has wreaked unprecedented havoc on the Indian economy. Due to country-wide lockdown, disruption of demand supply chains and effects of the global economic meltdown, deep effects on the Indian economy and GDP are observed. COVID-19 has far reaching impact on various sectors of the Indian economy and hence the Government of India is working on implementing various strategies for swift economic recovery. Understanding the estimated GDP and economic projections before and after COVID-19 hit during the various stages of lockdown is essential in order to establish recovery measures. COVID-19 has impacted the primary, secondary, tertiary, and quaternary sectors differently. Hence, it’s important to analyze the impact, recovery period and reasons for the same. Understanding this helps to perform immediate stock market predictions which can be one of three types such as – a temporary impact, severe and extended impact or a prolonged severe turndown due to the pandemic. The COVID-19 pandemic has also resulted in specific benefits for the Indian economy in particular. And hence a close look into the various possible business strategies that a complex economy like India has been applying and can attempt to adopt in the future to minimize the negative impacts of the pandemic and elevate the GDP and economy of the country is a necessity