Covid 19 Divergent Effect on Indian Economy and Role of GoI

Abstract

I would like to depict the effect of the pandemic COVID 19 effect on the Indian economy .I analysis the general effect on business organizations .Generally due to sudden complete lock down the activity of all organizations had stuck like production and consequently shortage of supply, marketing for this labour‘s insecurity feelings for losing of their jobs in private sector and unorganized sector and also breaking the supply chain ,insufficient funding etc leads to increase in inflation and ultimately reach towards global recession. I also try to analyse this effect on different Sectors. Like Poultry sector was suffering from demand crunch, real estate sector was suffering from cash crunch, aviation sector has to be borne huge fixed cost, tourism, hotel & restaurant have to bound to close down their activity completely and other sector like gems & jewelers, financial sector and automobile sectors were also suffering a lots during the period of lock down due to pandemic COVID 19 crisis.

I try to describe the Actions has been taken by Central Government with consultation of all state Governments to fight against this COVID19 crisis. Major actions taken by government to minimize the hardship of the common people specially poorer section of people by distributing free ration, Direct fund transfer to marginal section of people by allowing moratorium period for 3 months of all the lenders of PSBs. Government also give some relaxation of the corporate and non corporate by amending different laws like Income TaxAct,1961, ST Law, Companies Act 2013, Insolvency & Bankruptcy code 2016.Moreover government announced different schems to give the benefit of different categories of people.