IMPACT OF COVID-19 ON THE INDIAN ECONOMY

The Covid-19 virus is a genetic branch of the coronavirus, which has infested as an infectious disease amongst a severe global pandemic. This illness, declared to be a pandemic by WHO early this year, has spread across the world, causing deaths in large numbers and a buzzing sense of uncertainty among people. In response to the life-threatening pandemic, most countries have taken various measures, including imposition of a total lockdown that has had a detrimental impact across economies. This research paper studies the impact of the novel coronavirus on various macroeconomic factors of the Indian economy. The study is an analysis of data that is secondary in nature, using various statistical tools and techniques to come to a conclusion. Additionally, the impact of Covid-19 on one of the most vulnerable sectors of the economy- the medium, small and micro enterprises- has been shown with the help of a case study. The research also analyses various policy measures taken by the Reserve Bank of India and the Central Government of India, to ameliorate the economic shock and make a promising recovery of the Indian economy.