Impact of Covid-19 on Sectors of Indian Economy and Business Survival Strategies

Rakshit, Debdas; Paul, Ananya

doi:10.31033/ijemr.10.3.8

Cited by 19 publications

(13 citation statements)

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Section: Impacts On Msmesmentioning

confidence: 99%

Untitled

2022

JERR

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Background: The outbreak of COVID-19 pandemic has affected the global economy from its starting. Indian economy is also affected by the pandemic and experienced a lot of economic damages. India has become the global hotspot of COVID-19 during the second wave of the pandemic and recorded the second-highest position in terms of positivity rate after China. The present study attempts to analyze the economic issues that emerged in the first and second waves of the pandemic in India. Method/Approach: There is no econometric tools or analytical models used in the present study. This study attempts to evaluate the two research questions which are formed on the basis of some previous studies by various organizations and researchers. The research questions are as follow, First, what are the sectors those are primarily affected at the time of the first COVID-19 outbreak? Second, which economic issues and impacts emerged in the second wave of the pandemic?Results/ Findings: From the study, it is found that the second wave of COVID-19 is not much affected by the Indian economy. At this time, no nationwide lockdown was announced by the Government. But so, it was much severe in the time of the first wave of COVID-19. Many sectors were affected by the pandemic like agriculture, MSMEs, Tourism, etc., and these resulted in substantial unemployment problems in the economy. The study is trying to analyze these problems and concluding it with a few policy recommendations for the economy of India.

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Section: Impacts On Msmesmentioning

confidence: 99%

Untitled

2022

JERR

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“…The MSME sector contributes to 29.7% of Indian GDP including 6.11% of manufacturing sector GDP and around 24.63% of service sector GDP. MSMEs are the source of 33.4% of the total manufacturing output and 45% of the overall exports in India (Rakshit and Paul, 2020). MSME sector has badly affected during COVID-19 lockdown due to massive labor migration, disruption in production, and lack of cash flow.…”

Section: Impacts On Msmesmentioning

confidence: 99%

An Analysis of Economic Issues during First and Second Wave of COVID-19 Pandemic in India: A Literature Survey

Gogoi¹,

Buragohain²,

Gogoi³

et al. 2021

Preprint

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Background-The outbreak of COVID-19 pandemic has affected the global economy from its starting. Indian economy is also affected by the pandemic and experienced a lot of economic damages. India has become the global hotspot of COVID-19 during the second wave of the pandemic and recorded the second-highest position in terms of positivity rate after China. The present study attempts to analyze the economic issues that emerged in the first and second waves of the pandemic in India. Method/Approach-There is no econometric tools or analytical models used in the present study. This study attempts to evaluate the two research questions which are formed on the basis of some previous studies by various organizations and researchers. The research questions are as follow, First, what are the sectors those are primarily affected at the time of the first COVID-19 outbreak? Second, which economic issues and impacts emerged in the second wave of the pandemic? Results/ Findings-From the study, it is found that the second wave of COVID-19 is not much affected by the Indian economy. At this time, no nationwide lockdown was announced by the Government. But so, it was much severe in the time of the first wave of COVID-19. Many sectors were affected by the pandemic like agriculture, MSMEs, Tourism, etc., and these resulted in substantial unemployment problems in the economy. The study is trying to analyze these problems and concluding it with a few policy recommendations for the economy of India.

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“…As when the pandemic would end remains uncertain, what is important now is to plan and implement aggressive as well as ground-breaking policy to avoid its worst impacts (Barua, 2020). Business is one of the important elements which can help in the growth of the economy (Rakshit and Paul, 2020). Therefore, the focus should be on the impacts of COVID-19 on the business and important measures (Political, Economic, Social, Technological, Ecological and Legal) should be undertaken for the business organizations along with continuous internal analysis and steady move to digitization.…”

Section: Covid-19 Outbreak and The Economymentioning

confidence: 99%

COVID-19 Impact on Nifty Banks: An Event Study Methodology

Digal¹,

Khatun²,

Seet³

2020

JIBE

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The financial sector, because of its catalytic role in the economy, has always been in the eye of the storm in economic difficulties. Due to the pandemic, the stock market had lost about 27 percent by April 2020 and bank nifty has had a lion’s share in pushing the index down to this level. Uncertainty arose as the containment of the disease and the availability of vaccines remain uncertain; this contributed to the plunge in investor confidence. Because of the central role of banks in the development initiatives of the governments, COVID-19 has become a significant threat to the sustainability of the banks globally, especially in developing economies. However, we believe every downfall brings in new opportunities for the investors. Therefore, the present study attempted to study both the gloom and boon and observed that there were short-term abnormal returns to the investors of nifty banks in two different periods - the detection of the first case of COVID-19 in India and the lockdown periods in India. The impacts of both the events are calculated by applying Market and Risk Adjusted model, Market Adjusted Return model and Mean Adjusted Return model. The paper concludes that the impacts were insignificant during the first period and was quite significant in the subsequent period. Nifty banks have earned negative abnormal returns during the pre-lockdown period and positive abnormal returns during post lockdown period which indicates that the markets reacted positively as India implemented the first lockdown.

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Impact of Covid-19 on Sectors of Indian Economy and Business Survival Strategies

Cited by 19 publications

References 0 publications

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An Analysis of Economic Issues during First and Second Wave of COVID-19 Pandemic in India: A Literature Survey

COVID-19 Impact on Nifty Banks: An Event Study Methodology

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