IMPACT OF COVID-19 ON INDIAN ECONOMY – by Gana Ganesh

impact_of_covid-19_on_Indian_Economy

Economically India is the 5th largest country in the world,

which is holding of 6.1% GDP growth and a lot of countries invested their money in India which increases our growth of the country. But the present situation of India is too hopeless, because of the lockdown due to corona crisis.

In this lockdown situation,

the main occupation of getting income in our country is transportation is closed. Railways and Airways and Roadways are shut down without any income generation. These are huge income generations in our country. Even after the lockdown, the airways need 19,000 crores to fly based on minimum requirements. Through roadway, there is a collection of road tax and this was stopped in this lockdown. This gives the Government, a mild stone drawback to maintain the normal GDP of our country.

Then another occupation is

the wine shops, this also remains closed for three months. There is a maximum loss of income to our Government. And one of the main occupations for celebrities is cinema. In this lockdown, theatres remained closed to avoid public gatherings. This creates a huge loss for the cinema industry and also Government in such a way that tax to be paid for the collections of the respective cinema.

Due to this lockdown,

there is a huge impact on the share market and also the investments in the new fields to develop their respective ideas. By this situation, none of the public is willing to buy the shares and as well as the Gold in these very auspicious “Akshaya Tritiya” days. This creates a huge loss to the respective sellers. There is a huge loss of 1,25000 crores in the car manufacturing industry.

According to the survey,

India is the 17th largest export economy in the world. But due to this lockdown, the exports and imports are shut down to avoid the spreading of the corona. There is a huge loss to our country in the form of shortage of things related to surviving.

The banking sector

is the backbone of our countries income to hold the possibilities of our society, even though they are closed in this lockdown. The interests for the loans taken by people for their needs are negotiated for these three months, under the actions taken by the central government. This creates a huge loss to the banking sector in our country.

Even in this pressurized situation and losses related to our country, our political leaders are just to looking after their public by depositing 500 rupees to every woman’s bank account throughout the country under the scheme of Jan-Dhan Yojana by our central government. In our Telangana, there is a deposition of 1500 rupees to every family in our state, who are supposed to have a ration card.

Our political leaders are supposed to say that familiar statement

“If we lose our money or status we can get it back. But if we lose our life’s we cannot get it back.”

So make sure that money is not important than our life, so be safe and be happy.

 

Photos by CDC &  rupixen.com on Unsplash

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