As we all know, in the wake of coronavirus ,Indian Economy shrank -23.90% year one-year in the second quarter of 2020.
India’s GDP annual growth rate proves it to become world’s third worst effecting country, From economic distraction to implementing relief measures the government is still unable to curb the impact of the pandemic. The most important element of the fastest growing sector of Indian economy & services covering more then 60% of GDP is shattered. The other 12% of agriculture, forest & fishing, 15% of manufacturing & 8% GDP from construction & remaining 5% mining, gas, electricity, water supply is equally affected.
The Pre – crisis challenges from youth are now amplify since Covid-19 hit.
Unemployment being the worst nightmare is now haunting 41lakh youths in the country.
The GDP has not only effected the country but the far – sharing world & economy, stops until it says good bye.
The sad reality is that it is spreading quickly & will continue to spread for a while. Before we get deeper into this, the loss which cannot recovered is worst then the loss which can be recovered. So, being safe better then being in grave. Hopefully Corona Virus passes soon & it has minimal impact on lines for the take being try to maintain social distancing. As I am conversing about the country GDP & the diverse effect on lives, country, world & economy, I am sure together as a unified society we can help to slow down the spread of Covid-19 & bring the country’s glory back.
As Warren Buffet said Innovation and Progress would continue to make the country better in the future then it was in the past, ” We have endured few months of Crises & while we don’t know how many more months we will have to endure how the economy will look when come out of this pandemic. With an eye on the long run stay, focused on the activities you perform, come up with a better future past – pandemic.
Mehak Bubna (PGDM 2020-22)