TABLE OF CONTENT

SI. NO. CONTENT PAGE NO.

LIST OF TABLES 6-7

LIST OF CHARTS 8-9
1 INTRODUCTION 10-15
2 REVIEW OF LITREATURE 16-29
3 THEORITICAL FRAMEWORK: 30-32
HISTORY AND PREVIOUS &
OUTBREAK OF COVID-19
4 DATA ANALYSIS AND 33-53
INTERPRETATION
5 FINDINGS, SUGGESTIONS AND 54-58
CONCLUSION
6 QUESTIONNAIRE ON IMPACT OF 59-62
COVID-19 IN INDIAN ECONOMY
BIBLIOGRAPHY 63

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P a g e 2 | 60
 LIST OF TABLES

SI. TITLE PAGE NO.

NO
4.1 Showing the age of respondents. 33
4.2 Showing the gender respondents. 34
4.3 showing occupation of respondents 35
4.4 Showing the immediate concerns in the wake of COVID- 36
19.
4.5 Showing the recovery of economy from slowdown. 37
4.6 Showing the details about job crisis in the economy. 38
4.7 Showing the details of people who were working in other 39
state or country and returned home due to pandemic.

4.8 shows the sectors in which the people work and returned 40
from the other state during lockdown
4.9 Showing the number of respondents who can return to their 41
work after the pandemic.
4.10 Showing whether the respondents were able to learn or 42
work from home.
4.11 Showing the support received from institutions and 43
employers.
4.12 Shows the number of respondents visited bank during 44
pandemic days.
4.13 Shows the data about practicing social distancing at the 44
banks.
4.14 Changes in rate of loan during Covid19. 45
4.15 Showing whether the E-Commerce gets caught up in the 46
rules.
416 Shows the data of respondents engaged in new digital 47
communities during lockdown.
4.17 Showing the data of what new digital communities the 47
respondents shifted to during lockdown.
4.18 Shows the data of changes in consumption of junk food. 48
4.19 Data of the respondents about the need to visit a health 49
centre.

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4.20 Showing the data response towards the statement: “I trust 50
that government is responding effectively to the ongoing
crisis.”
4.21 Showing whether the lockdown was necessary for reducing 51
the spread of coronavirus.
422 Data of from which country the respondents think that India 52
should take lessons from in fighting the coronavirus.

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 LIST OF CHARTS

SI. TITLE PAGE NO.

NO
4.1 Showing the age of respondents. 33
4.2 Showing the gender respondents. 34
4.3 showing occupation of respondents 35
4.4 Showing the immediate concerns in the wake of COVID-19. 36
4.5 Showing the recovery of economy from slowdown. 37
4.6 Showing the details about job crisis in the economy. 38
4.7 Showing the details of people who were working in other 39
state or country and returned home due to pandemic.
4.8 Shows the sectors in which the people work and returned 40
from the other state during lockdown
4.9 Showing the number of respondents who can return to their 41
work after the pandemic.
4.10 Showing whether the respondents were able to learn or work 42
from home.
4.11 Showing the support received from institutions and 43
employers.
4.12 Shows the number of respondents visited bank during 44
pandemic days.
4.13 Shows the data about practicing social distancing at the 44
banks.
4.14 Changes in rate of loan during Covid19. 45
4.15 Showing whether the E-Commerce gets caught up in the 46
rules.
416 Shows the data of respondents engaged in new digital 47
communities during lockdown.
4.17 Showing the data of what new digital communities the 47
respondents shifted to during lockdown.
4.18 Shows the data of changes in consumption of junk food. 48
4.19 Data of the respondents about the need to visit a health 49
centre.
4.20 Showing the data response towards the statement: “I trust 50
that government is responding effectively to the ongoing
crisis.”
4.21 Showing whether the lockdown was necessary for reducing 51
the spread of coronavirus.

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4.22 Data of from which country the respondents think that India 52
should take lessons from in fighting the coronavirus.
4.23 Stress and anxiety level changes during covid-19. 53

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1. INTRODUCTION

THE IMPACT OF COVID-19 ON IDIAN ECONOMY

The Indian economy was in a distress at the brink of the country’s

Independence. Being a colony, she was fulfilling the development needs not of
herself, but of a foreign land. As the country was riding on the promises and
vibes of national fervor, many important and strategic decisions were taken by
1956, which are still shaping India’s economic journey. Today India ranked the
seventh largest economy and third largest in terms of purchasing power partly.
The GDP per capita income is equivalent to 16% of the world’s average. India
has emerged as the fastest growing major economy in the world and is expected
to be one of the top three economic powers in the world over the next 10-15
years, backed by its robust democracy and strong partnerships.

In the middle of all success, there will be some risk or some intermission. The
COVID-19 pandemic in India is part of the worldwide pandemic of corona virus
disease 2019 caused by severe acute respiratory syndrome SARS-COV-2. The
first case of COVID-19 in India, which originated from China, was reported on
30th January 2020. India currently has the largest number of confirmed cases in
Asia and has the third highest number of confirmed cases in the world after the
United States and Brazil.

The economic impact of the pandemic in India has been largely disruptive. No
one has been spared of its ill effects. India’s growth in the fourth quarter of the
fiscal year 2020 went down to 3.1% according to Ministry of Statistics. Notably
India had also been witnessing a pre-pandemic slowdown, and according to the
World Bank, the current pandemic has “magnified pre-existing risks to India’s
economic outlook.”

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India recorded the first case of the disease on January 30, 2020. Since then the
cases have increased steadily and significantly. At the time of writing of this
chapter (July 2nd week, 2020), and as shown in figure 1, India has recorded the
third highest Covid-19 caseload in the world after the United States and Russia
with more than a million confirmed cases and more than 25,000 deaths .5 The
doubling rate has steadily gone up to around 18-22 days (figure 2) and the daily
new confirmed cases are around 28,000-30,000.

However, as shown in figure 1 the growth in active cases is lower than the
growth in total cases implying a relatively high recovery rate which has
continued to improve. Also figure 3 shows that, unlike other affected countries
the number of daily new cases is yet to reach the peak in India. Globally there
have been more than 13million confirmed cases and close to 6 lakh deaths
(World Health Organization).

In order to curb the spread of the virus, the government of India announced a
nationwide lock-down starting March 25, 2020 which continued for about two
months. All non-essential services and businesses, including retail
establishments, educational institutions, places of religious worship, across the
country stayed closed during this period and all means of travel were stopped,
aside from some inter-state transport permitted towards end April and early
May to let migrant workers, stranded pilgrims, tourists and students return to
their native places At the time this was the most far-reaching measure
undertaken by any government in response to the pandemic and till date remains
the world’s biggest lock-down in context of this disease.

Subsequently from end May early June onward the lock-down was gradually
relaxed in a phased manner but continued in high-risk zones or ‘containment’
areas. This was required given the uneven spread of the pandemic across the
country with some states like Delhi, Gujarat, Maharashtra, Tamil Nadu, West
Bengal etc reporting higher than average confirmed cases and also given the
tremendous hardship that the nationwide lock-down had begun imposing on the
overall economy. With the continued surge in cases, after an initial phase of
relaxations in June, the nationwide lock-down was extended till July 31 albeit in
a less strict manner compared to the lock-down of March 24.

Measured relaxations have been permitted in areas outside the ‘containment or

high-risk zones’ including opening of non-essential establishments, and
businesses. Domestic flights have been allowed subject to the guidelines issued
by the government to ensure safe travel of the passengers amidst the pandemic.

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However restrictions on educational institutions, places of public gathering such
as shopping malls, gymnasiums, swimming pools, cinema theatres,
entertainment parks, places of religious worship, operation of metro train
services etc continue. While vehicular movement within states is allowed there
remains in place a nightcurfew period in almost all states. The re-imposition of
the lock-down has delayed any chance of economic recovery that was
anticipated once the first phase of ‘unlocking’ had begun in June.

1.1 Indian Economy In Pre-Covid-19 Period

The shock is playing out in almost a similar manner in all countries

of the world in terms of demand and supply disruptions and the
consequent economic slowdown. In case of India however the
problem might be more acute and longer lasting owing to the state
the economy was in, in the pre-Covid-19 period. By the time the
first Covid-19 case was reported in India, the economy had
deteriorated significantly after years of feeble performance.
GDP (gross domestic product) growth rate has been on a
downward trajectory since 2015-16. According to the official
statistics, GDP growth slowed down to 4.2% in 2019-20, the
lowest level since 2002-03. Industry, which accounts for 30% of
GDP, shrank by 0.58% in Q4, 2019-20. Unemployment reached a
45-year high. A major driver of growth in any economy is
investment by the private corporate sector. In the pre-Covid19
period, nominal values of private sector investment have been
declining. The total outstanding investment projects between 2015-
16 and 2019-20 declined by 2.4%, whereas new projects
announced fell by 4%, as per data from the CMIE (Centre for
Monitoring Indian Economy). Consumption expenditure had also
been falling, for the first time in several decades.
High frequency indicators (figure 4) of urban consumption
demand show that sales of passenger vehicles as well as consumer
durables growth contracted in February 2020. Overall, urban
consumption appears to have lost steam in Q4. Among the
indicators of rural consumption, motorcycle sales and the consumer
nondurable segment remained in contraction in February 2020,
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 reflecting weak rural demand. The lock-down would have
dampened any chance of revival of consumption demand and
private investment.

Figure 4: High frequency indicators: Consumption demand

A few specific factors make India's position particularly vulnerable

as it tries to deal with the ongoing economic crisis.

1.2 Statement of Problem

The study is conducted to show the impacts of COVID-19 in the Indian economy. A
virus has ravaged the world, we have never seen or heard a crisis. There is an
unprecedented crisis but India will neither get tired nor give up the fight against
corona virus. We have to protect ourselves and move ahead as well.

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1.3 Objectives of Study
1.3.1 Main objective • To understand the impact of COVID-19 on
overall Indian Economy.
1.3.2 Sub objective • To understand the impact of COVID-19 on
different sectors.
• To find out challenges for different sectors in
Indian economy.
• To compare the economy before and after
COVID-19.
1.4 Research Design
1.4.1 Nature of Study This is a descriptive study.

1.4.2 Nature of Data The nature of this data is primary and secondary.

1.4.3 Sources of Data Both primary and secondary data is used.

Primary data is collected from the respondents
by administering structures, open and closed
ended questionnaire also through observation,
interview and discussion with management
teams. Secondary data is collected through
research books, journals, records of commercial
banks, websites etc.
1.5 Sample Design
1.5.1 Nature of population Nature of population is students of Christ
College, Irinjalakuda.
1.5.2 Sample Unit Sample unit represents students of Christ College,
Irinjalakuda.
1.5.3 Method of Sampling In this study, I have taken the help of
questionnaires to understand the impact of
COVID-19 on Indian economy and various
sectors. And I have used “Simple Random
Sampling” for this purpose.
1.5.4 Size of the Sample The sample size is 50.

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1.6 Tools for Analysis The tools for analysis used here is graphs, pie
charts etc.
1.7 Limitations • Sample size is large.
• It is not possible to cover a large area to get the results.
1.8 Chapterization
Chapter 1: Introduction, statement of problem, scope
and significance of study, objectives of study, research
design, sample design, tools for analysis, and limitation of
study.
Chapter 2: Conceptual review and Empirical review.
Chapter 3: The history of corona virus and previous
outbreaks of corona virus.
Chapter 4: The data analysis in a detailed manner. The data
is represented in graphs, pie charts etc.
Chapter 5: Findings and conclusions from the data analyzed.

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2. REVIEW OF LITERATURE

Conceptual Review
COVID – 19
COVID – 19 is disease caused by a new strain of corona virus. ‘CO’ stands for
corona, ‘VI’ for virus, and ‘D’ for disease. Formerly, this disease was referred
to as ‘2019 novel corona virus’ or ‘2019- nCOV.’ In other words, we can say
that, a type of virus that causes diseases in humans and animals. In humans, it
usually causes respiratory infections that are not serious, but that can sometimes
cause more serious infections that can kill people.
Definition given by Oxford Dictionary, “Any of a group of RNA viruses that
cause a variety of respiratory, gastrointestinal and neurological diseases in
humans and other animals.”
So far, India is among the Asian economies that are not deeply impacted. With
the number of Covid-19 cases nearing 9,533,471 cases and the death toll
topping 138,657 (as per December 3rd, 2020), the impact of the virus on global
sentiment, economic and otherwise, has been immense. While new afflictions
have been declining in China – the epicenter of the outbreak – since the end of
February, it is spreading fast outside. New cases outside China now surpass
those in China, with Italy, Iran and South Korea being the worst affected. With
more than 160 countries reporting confirmed cases of Covid-19, its implications
on the global economy are more threatening than envisaged a month ago.
The factors influencing epidemiological characteristics of COVID-19 are listed
below:
Virulence of novel Corona virus
Virus virulence is the disease-causing capability of a virus which depends on
various factors like those allow it to replicate and spread inside a host by
modifying host defence, and breaking host cells and damaging tissues. The new
2019 novel Corona virus-2 or SARS-CoV-2 is identified as beta corona virus.
Virus virulence is basically due to its genes responsible for viral 15 replication,
genes which help to escape from host immune system, those which are involved
in the transmissibility and genes coding toxic products in host cells. The current
virus seems to be very contagious and has quickly spread globally.

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Host defence potential
It directly correlates with the disease defence potential of an individual,
specifically the innate and adaptive immune responses against pathogens.
Humans are generally and specifically immune to various kinds of viruses.
During the initial phase of Corona viral infection, the upper respiratory tract
will be infected and the host immune power is the determining factor for disease
progression. A weakened immune defence may fail to compete with the viruses
leading to lower respiratory tract infections, which on that stage may worse at a
faster rate leading to lung fibrosis, shortness of breath and finally death.
Genome studies have reported that a protein called nsp3 in the novel Corona
Virus-2 causing COVID 19 is meant for blocking host innate immune response
and promoting cytokine expression. The Immune-compromised persons are in a
highly susceptible group as their host defence is very poor.

Underlying health conditions

People with underlying health conditions like high Blood Pressure, diabetes,
stroke, cardiac or kidney diseases, aged individuals, and people with weakened
immune system face higher risks if COVID 19 like infections happens to them.
If people are challenged with COVID 19 after a recent viral infection, their
defences are already down and that could result in increasingly poor prognosis
for them from this virus. This is mainly because of low levels of immune cells
and high cytokine levels in body fluids. Cytokine release syndrome (CRS) is an
acute systemic inflammatory syndrome characterized by fever and multiple
organ dysfunctions. In some cases, viral infections can illicit excessive immune
reactions like ‘cytokine storm’ leading to tissue damage. This is mainly 16
mediated by a chemical interleukin 6 (IL-6) produced by our immune cells. It
was observed that other than viral infections, IL-6 level will also increase
during cardiovascular diseases, infections, some forms of cancers, inflammatory
and autoimmune disorders. COVID 19 often leads to CRS if other systemic
health complications were previously present in a patient, a major cause of
death. That is the reason why the people with underlying diseases are requested
to stay safe otherwise they may not be able to cope with the excess IL-6 levels
upon infection which can lead to cytokine release syndrome (CRS) and even
death.

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Host behaviour and number of contacts
Since the current pandemic can be spread by aerosol transmission from person
to person, with direct or indirect contact, intentional and thoughtful acts are the
necessity of the time as Governments, communities, citizens, media, and other
key influencers have an important role to play in preventing and stopping the
pandemic which is highly influenced by host travel and other host behaviors
leading to direct contact and spread of COVID 19. The WHO guidelines
restricting international travel from affected areas, clinical or home isolations
and other advices and recommendations are having prime importance as they
are meant to be strictly followed to reduce number of direct contacts and the
general risk of transmission of this acute respiratory infection. In addition to
this, behavioural differences like restricted stay in indoors during winter can
also have an effect on Corona viral spread.
Other factors include social distancing and community consciousness, age,
atmospheric temperature, population density, airflow and ventilation, personal
hygiene practices, humidity etc.

WHAT ARE THE PARTS OF CORONAVIRUS?

Corona viruses are a large family of viruses, some of which infect humans. The
corona virus at the root of COVID-19 is the newest known member of this 17
family. And like other corona viruses that infect people, the new corona virus
causes respiratory disease, among other symptoms.
At their core, corona viruses contain a genetic blueprint called RNA (beige),
similar to DNA. The single-stranded RNA acts as a molecular message that
enables production of proteins needed for other elements of the virus.
Bound to this string of RNA are nucleoproteins— (dark blue discs)—proteins
that help give the virus its structure and enable it to replicate.

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Encapsulating the RNA genome is the viral envelope (teal), which protects the
virus when it is outside of a host cell. This outer envelope is made from a layer
of lipids, a waxy barrier containing fat molecules. As well as protecting the
precious genetic cargo, this layer anchors the different structural proteins
needed by the virus to infect cells. Envelope proteins (dark blue dots) embedded
in this layer aid the assembly of new virus particles once it has infected a cell.
The bulbous projections seen on the outside of the corona virus are spike
proteins (red-orange). This fringe of proteins gives the virus its crown-like
appearance under the microscope, from which the Latin name corona is derived.
The spike proteins act as grappling hooks that allow the virus to latch onto host
cells and crack them open for infection. Like all viruses, corona viruses are
unable to thrive and reproduce outside of a living host.

Let’s discuss about the various advantages and disadvantages COVID-19 in the
Indian economy.

ADVANTAGES:

Social Benefit

• Corona virus brought a big change in our society like people understood their
fundamental duties (to defend the country and render national service when
called upon to so) toward society. Whether any person suffering from the
disease, all countrymen showing kindness and stood together to help them.

• When the fund was required to recover from disaster, many charity heroes of
the country supported the government and donated their hard earnings.

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• In this difficult time, our country’s doctors, policemen, sweepers, NGO’s and
their volunteers are working hard to protect the people from the spread, risked
their lives to perform duties, on which the whole country is feeling proud. The
social benefit from Corona is that today the whole country is fighting together
from Corona.

Cultural Benefit

• India is a destination of different traditions. Indian Culture and traditions are

something which has now become renowned all across the world.
• Namaste is one of them adopted by the whole world to greet anybody in this
corona crisis. Even the prime minister of Israel Mr. Benjamin Netanyahu asked
19 their people to say ‘Namaste’, which was the proud moment for India.
• We all know that in the early era whenever people coming home from outside
should have to wash their hands and legs first before entering, the reason behind
this was the hygiene.

Technological Benefit
In the year 2000, India’s software technicians solved a dangerous Y2K problem
faced by the world, after which Indian software industries were grown
worldwide. Now, the Corona virus is the problem and as we are the 2nd largest
manufacturer in the pharma sector we have to provide a solution to the world.
For that, to deal with the current scenario again we are moving towards
technological advancement like:
• DRDO has developed an Ultra Violet disinfection tower to destroy the corona
virus. • HCARD an automated robot invented by the team of Indian scientists at
the Central Medical Engineering Research Institute (CMERI) aims at helping
frontline healthcare workers avoid contact points while treating Corona patients.
• IIT Bombay student team develops low-cost ventilator “Ruhdaar”
• The Pune based Mylab was the first Indian company to provide Covid-19 test
kits which were providing result within 4 to 5 hours.
• Indian pharma industries are continuously trying to invent corona vaccines,
collaboration with foreign companies. • And many more examples are available,
which makes India proud.

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Economic Benefit
The corona became the darkest hour for the world including the Indian
economy. To overcome the crisis Indian government continuously take the
necessary economic measures & try to safeguard the nation from the spread of
the virus:
• The largest fall in crude oil price helps India to save approx. 50 billion dollars
from oil imports in the next financial year, which is beneficial for the country.
• As we already know the COVID- 19 outbreak began from Wuhan, China. So,
20 the US, Australia, Japan, and other affected countries trying to pressurize
China to answer about their irresponsible move regard corona virus. For that,
they are trying to punish China economically by exiting companies out of China
and shift it to other countries like India, Vietnam, Indonesia, Thailand, etc.
• To grab the opportunity, India have already started to build a strategic
infrastructure to attract FDI’s. For that, our Finance Minister announced an
economic package of Rs.20 Lakh Crore to boost domestic production with
consumption to increase capabilities of MSME.
• In February, India imported PPE kits from China because we had no local PPE
manufacturing capability. But when joint efforts were taken by various
Ministries like the Ministry of Textile with country’s private manufacturer,
India became world’s 2nd largest PPE kit producer in just two months as well as
world’s first reusable PPE suits. The positive mind brings positive vibes and
positive vibes bring positive life. You know, “China took 30 years to set up a
well-defined assembling line of manufacturing.” We can also set up the same
type of manufacturing units and become an export-driven economy which will
provide ample job opportunities for India. Only we have to give our full-
pledged support to our country.

DISADVANTAGES:
The Marginalized at Risk:
To the extent, economic class and social identity (e.g., race, ethnicity or caste)
overlap, this suggests that socially marginalized groups would be at higher risk
of mortality due to COVID-19. The risks extend beyond mortality as the
economic consequences of the current pandemic are likely to be most
concentrated among the low wage earners and less educated workers, segments
of the labour force where racial and ethnic minorities are over – represented.
Early evidence from the United Kingdom and the United States reveals that

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racial and ethnic minorities are indeed the ones most likely at the risk of
unemployment.
The Indian Shutdown:
The key element of the pandemic control strategy was that everywhere has been
shut down, economic and social activity, and to impose social distancing with
varying degrees of strictness. India’s lockdown, imposed in the last week of
March 2020, was among the most stringent. The first month of the severe
lockdown, April 2020, witnessed a sharp rise in unemployment.
Education as Factor:
The global evidence suggests that job losses associated with COVID-19 are
much more concentrated among individuals with low levels of education and
those with vulnerable jobs with no tenure or security. We find that individuals
with more secure jobs, i.e., not daily wagers, and those with more than 12 years
of education, were much less likely to be unemployed in April 2020 than those
with less than 12 years of education and with daily wage jobs, relative to their
pre-pandemic employment status. Thus, education did turn out to be a
protective factor in the first wave of immediate post-lockdown job losses.
Issue of Technology:
Differential access to information technology, as well as disparities in the
ability to invest in technology will be critical in shaping access to online
education, if the pandemic forces schools to close for a substantial period of
time.
Impact on Tourism, Aviation and Retail:
The tourism industry is the worst affected due to the COVID crisis,
internationally. The World Tourism Organization estimations depict a fall of
20–30 per cent in international tourist arrivals. These figures too are based on
present circumstances and are likely to increase or decrease in future. Millions
of people associated with industry are likely to lose their jobs. In India, the
travel and tourism industry is flourishing and is contributing sizably to the
economy.
The aviation sector in India had contributed US$72 billion to India’s GDP.
Foreign tourist arrival has been down in the first quarter. The lockdown had a
significant impact on arrivals in the second quarter. If we estimate a
conservative 25 per cent decline in the contribution of the aviation sector, it will
amount to 18 billion. Railways contributed US$27.13 billion in 2019 to GDP. A
21-day lockdown period had brought down the revenue by US$1.56 billion.
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The Indian retail industry was worth US$790 billion in FY 2019. It accounts for
over 10 per cent of the country’s GDP and around 8 per cent of employment. In
the past few years, online retail has seen a very rapid growth and the market
projections had indicated a 30 per cent growth in online. In the retail sector, the
suppressed demand has a tendency to revive very fast and this will enable the
sector to recover the losses once the lockdown is lifted. Online retail was
operational in some parts of the country during the lockdown period and this
will help in offsetting some of the losses for the industry.
Impact on GDP Growth Rate:
The UN warned that the coronavirus pandemic is expected to have a significant
adverse impact on global economy, and most significantly, GDP growth of
India for the present economy is projected to decline. Similarly, the UN
‘Economic and Social Survey of Asia and the Pacific (ESCAP) 2020 reported
that COVID-19 would have extensive socio-economic consequences in the
region with inundate activities across borders in the areas of tourism, trade and
financial linkages.
In second scenario where India controls the virus spread but there is a
significant global recession, the growth may be between 4 per cent and 4.5 per
cent. Motilal Oswal research suggests that a single day of complete lockdown
could shave off 14–19 basis points from annual growth. Barclays reported the
cumulative shutdown cost to be around US$120 billion, or 4 per cent of GDP.
Mr Yashwant Sinha, former Finance Minister of India, estimated the cost of 21-
day countrywide lockdown at 1 percentage point of GDP. The global recession
and uncertainties of future might make a 2percentage point decline in growth
rate (for 2020–2021) possible.
Impact of COVID-19 Pandemic on Migratory Labour:
The International Labour Organization in its report describes the coronavirus
pandemic as ‘the worst global crisis since World War II’. About 400 million
people (76.2% of the total workforce) working in the informal economy in India
are at a risk of falling deeper into poverty due to catastrophic consequences of
the virus. As half of the world is in lockdown, it is going to be a loss of 195
million full-time jobs or 6.7 per cent of working hours globally. Many are in
low-paid, low-skilled jobs where sudden loss of income is catastrophic
(International Labour Organisation, 2020).

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 Seasonal migration of labour for work is a pervasive reality in rural India. A
migration of millions of people happens from rural areas to industries, urban
markets and farms. Major migration corridors in India are from UP and Bihar,
to Punjab, Haryana, Maharashtra and Gujarat. Newer corridors from Odisha,
West Bengal and North East to Karnataka and Andhra Pradesh, from Rajasthan
to Gujarat, from MP to Gujarat and Maharashtra and from Tamil Nadu to
Kerala are also being created. These migrant workers are employed in the
construction sector (40 million), domestic work (20 million), textile (11
million), brick kiln work (10 million), transportation, mining and agriculture
(IIPS, 2001). During lockdown, 92.5 per cent of labourers have lost 1 to 4
weeks of work. A survey done by Jan Sahas, of 3196 migrant workers across
northern and central India, between 27 March and 29 March, reveals that 80 per
cent of migrant workers feared that they will run out of food before lockdown
ends on 14 April and will not get their job back thereafter.
The crisis witnessed a horrifying mass exodus of such floating population of
migrants on foot amidst the countrywide lockdown. Their worries primarily
emanating from loss of job and absence of a social safety net. Despite assurance
from the government, they continued to walk back to their homes. It is a saga of
inequality, poverty and social exclusion of vulnerable populations struggling to
overcome this sudden crisis.
The Supreme Court sought a status report from the Centre on the measures
taken to prevent the mass exodus of migratory labourers to their villages. A
sudden displacement of workers due to coronavirus will have far-reaching
effects on the Indian economy. Some of these workers may not return to work
in the industrial towns of Gurugram, Surat and Mumbai. They may seek
employment in their marginal farms or in the nearby areas. The consequences of
behaviour changes forced by lockdown will put pressure on MSMEs and farm
sector, as labour will not be available soon after lockdown. If not properly
addressed through policy, the social crisis created by the COVID-19 pandemic
may also increase inequality, exclusion, discrimination and global
unemployment in the medium and long term.
Implications on Capital Markets, Global Oil Market and its Impact on
India: Coronavirus fears have sent shock waves across global financial
markets. Indian capital markets are envisaging a funds flow to Western capital
markets, owing to rate cuts and fall in the stock markets the world over. As per
the NSDL data, Foreign Portfolio Investors (FPIs) have withdrawn huge
amounts from India—₹247.76 billion from equity markets and ₹140.50 billion
from debt markets in a short span of 13 days, that is, from 1 to 13 of March

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2020. There will be a lot of volatility in the capital markets in the next 6
months, owing to rapid flow of capital from one market to another in the world.
A historic drop in demand for oil has dropped the crude oil prices to an 18-year
low of US$22 25 per barrel. If capital outflows from India continue, rupee
(INR) may depreciate further in the coming days.

Impact on Start-Ups and Micro, Small and Medium Enterprises:

Micro, Small and Medium enterprises, which have created more than 90 per
cent of the jobs in India, employing over 114 million people and contributing 30
per cent of the GDP, are at the risk of having a severe cash crunch due to
lockdown. Many of these MSMEs have loan obligations and monthly EMIs to
pay. Many of them might just disappear if their cash cycle is disturbed because
of the lockdown, with fixed costs dangling over them in such a situation. They
need a moratorium for loan repayments. RBI has released funds to non-banking
financial corporations, some of whom provide finance to MSMEs.
In addition to that, movement of perishable goods is hampered and thus, these
businesses stare at huge losses. India cannot have a real and sustainable growth
without having a thriving MSME sector. The COVID-19 crisis will also test the
resilience of start-ups in India. Start-ups have to rely on cross-border fund
raising. Several founders are seeing their businesses grinding to a halt.
Receivables are spiralling and they have to undertake painful cost-reduction
measures in their ventures.
Government will have to make funds available to this sector, as venture capital
firms may take a little longer to come and support because of the restricted
global capital flow.

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2.2 EMPERICAL REVIEW
Empirical review is a research using empirical evidence. It is a way of gaining
knowledge by means of direct and indirect observation or experience. Many
researchers combine qualitative and quantitative forms of analysis to better
answer questions which cannot be studied in laboratory settings, particularly in
social sciences and in education.
2.2.1 Sunil et al (2020), The trade impact of the corona virus epidemic
for India is estimated to be about 348 million dollars and the country
figures among the top 15 economies most affected as slowdown of
manufacturing in China disrupts world trade, according to a UN report.
Whereas according to Asian Development Bank (ADB) the Covid-19
outbreak could cost the Indian economy between $387 million and $29.9
billion in personal consumption losses. A survey by FICCI (2020) found
that most industry respondents did not foresee positive demand account
during the entire fiscal year. Demand side impact on tourism, hospitality
and aviation is among the worst affected sectors that are facing the
maximum burnt of the present crisis. Consumption is also getting
impacted due to job losses and decline in income levels of people
particularly the daily wage earners due to slowing activity in several
sectors including retail, construction, entertainment, etc. Some sectors
like automobiles, pharmaceuticals, electronics, chemicals products etc.
are facing an imminent raw material and component shortage.
2.2.2 S. Udhaya Kumar et al (2020), The corona virus disease
(COVID-19) pandemic, which originated in the city of Wuhan, China,
has quickly spread to various countries, with many cases having been
reported worldwide. The financial crisis that has emerged owing to the
worldwide lockdown reflects its adverse effect on several industries and
the global supply chain, which has resulted in the GDP dropping to 4.2%
for FY20, which was previously estimated at 4.8%. This article also
mentions the preventive measures to be taken by government as well as
individual to avoid the virus transmission.

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2.2.3 Monika Chaudhary et al (August 11, 2020), A micro virus has
eroded wealth and corroded investor confidence, slowed-down private
consumption and investment, disrupted workplaces and distorted markets.
Economic Survey 2019–2020 had laid out a plan to promote exports of
network products, to integrate ‘assemble in India for the world’ into
Make in India and to create 40 million jobs by realising the aspiration of a
5 trillion economy by 2025. A rise in demand for commodities, if the
virus does not get contained, will increase prices, even when there is a
global supply shock and unemployment rates are high, and that is when
stagflation sets in. And the article concludes by mentioning that,” the
COVID-19 pandemic has a clear message for the Indian economy to
adopt sustainable developmental models, which are based on selfreliance,
inclusive frameworks and are environment friendly.”
2.2.4 Venkatesh Athreya (July 23,2020), argues that the government of
India, did not respond seriously for nearly two months, from January 30
till the last week of March, waiting for Trump’s visit and the BJP master-
minded change of government in Madhya Pradesh to be successfully
completed. It finally responded on March 24 in a most ham-handed
manner by imposing a national lockdown, giving less than four hours’
notice. This had a devastating impact on millions of migrant workers,
leaving them stranded in various cities, far from their families, with no
place to stay and no income. It destroyed access to livelihoods and
incomes for nearly 80% of our households, as business establishments
closed down across the country. The government has continued to make a
complete mess of handling the pandemic as well as its economic
consequences. In this article, the author provides an overview of the Modi
government’s economic policies and their consequences during the period
of the pandemic and lockdown.
2.2.5 Ajay Kumar Poddar & Brijendra Singh Yadav (June 15, 2020),
The situation of COVID – 19 is aggravating the financial health of the
country even more worsen. As per the UN report, India will be impacted
by $348 mn 28 on its trade due to Corona Virus. The figure shall increase
even further depending on the period of lockdown, locally and globally. It
is expected that in the short term that the price of logistics, transportation,
freight and many other services will rise. The government is taking all

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possible measures to handle it efficiently however the exact impact shall
only be known once the corona period is over.
2.2.6 Tanisha Mukherjee et al (October 20, 2020), Referring to the
recent happenings and data, the unorganised sector excluding this likely
to suffer a great downfall in the coming days as the job generation is
going down in an alarming rate with the prolonged lockdown and weak
GDP. With the commencement of 2020-21 financial year the effects of
corona virus have affected the stability of the economy of 150 countries -
jeopardising their lifestyle, economy, impacting business and assumption
of common wellbeing which we had taken for granted. The lockdown has
adversely have affected service sector like banks, restaurants, food
vendors, and food delivery providers at par with providing health safety
and medical sustenance. The article also discusses about the health of the
sickening economy by mobilizing the resources and make plans of job
creation and job continuity.
2.2.7 Dr. Kishore Kumar Das & Shalini Patnaik (2020), Article – “The
Impact of COVID – 19 in The Indian Economy” released in International
Journal of Electrical Engineering and Technology, Volume 11, Issue 3,
May 2020 has attempted to critically analyse the impact of COVID 19 in
various sectors considering the data which are secondary in nature,
different appropriate statistical tools and techniques are applied for
analysis and conclusion. On the basis of finding recommendations are
suggested to overcome these adverse situations.
2.2.8 Anya Kumra (august, 2020), This study showed the impact of the
novel corona virus on various macroeconomic factors of the Indian
economy. This 29 study also shows the impact of Covid-19 on one of the
most vulnerable sectors of the economy- the medium, small and micro
enterprises- 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.
2.2.9 Sandeep Kumar M. et al (10 July 2020), This study focused on
the situations of COVID-19 that will certainly have an adverse effect over
and above health care. To overcome all the above issues, Internet of
Things (IoT) devices and sensors can be used to track and monitor the
movement of the people, so that necessary actions can be taken to prevent
the spread of corona virus disease. Mobile devices can be used for contact
tracing of the affected person by analyzing the geomap of the travel

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history. This will prevent the spread and reset the economy to the normal
condition.
2.2.10 J.D. Sonkhaskar (2020), The article gives an overview of the
Covid-19 situation in India, Indian economy before the pandemic, its
impact on different sectors and the policy recommendation and strategies
designed by the government to lower the financial crisis.

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3. THEORETICAL FRAMEWORK
3.1 History of Corona Virus
How did “SARS-CoV-2”, the new corona virus that causes COVID-19, come
into being?
Experts say SARS-CoV-2 originated in bats. That’s also how the corona
viruses behind Middle East respiratory syndrome (MERS) and severe acute
respiratory syndrome (SARS) got started. SARS-CoV-2 made the jump to
humans at one of Wuhan’s open-air “wet markets.” There where customers who
buy fresh meat and fish, including animals that are killed on the spot. Some wet
markets sell wild or banned species like cobras, wild boars, and raccoon dogs.
Crowded conditions can let viruses from different animals swap genes.
Sometimes the virus changes so much it can start to infect and spread among
people. Still, the Wuhan market didn’t sell bats at the time of the outbreak.
That’s why early suspicion also fell on pangolins, also called scaly anteaters,
which are sold illegally in some markets in China. Some corona viruses that
infect pangolins are similar to SARS-CoV-2. As SARS-CoV-2 spread both
inside and outside China, it infected people who have had no direct contact with
animals. That means the virus is transmitted from one human to another. It’s
now spreading around the globe, meaning that people are unwittingly catching
and passing on the corona virus. This growing worldwide transmission is what
is now a pandemic.

Virus 3.2 Previous Outbreaks of Corona

“Those who cannot remember the past are condemned to repeat it.”
- George Santayana
All human corona viruses have originated from animals. SARS‐CoV, MERS‐
CoV, SARS‐CoV2, HCoV 229E, and HCoVNL63 have originated from bats,
whereas HCoV OC43 and HCoVHKU1 originated from rodents.
Let us discuss the different previous outbreak of corona virus in the world:
• The pathogenicity of corona virus was recognized way back in 1960 when it
was identified as a cause of common cold. Till the year 2002, it was considered
as a non-fatal virus not severely pathogenic to humans. Later in 2002,
researchers found a group of similar human and animal viruses and named them
after their crown-like appearance.

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 • The one that causes SARS emerged as the first corona virus outbreak which
started in the form of severe atypical pneumonia in November 2002 in
Guangdong Province of Southern China and quickly spread to 28 other
countries. More than 8,000 people were infected by July 2003, and 774 died
.• A small outbreak in 2004 involved only four more cases. This corona virus
causes fever, headache, and respiratory problems such as cough and shortness
of breath.
• Almost a decade later, in the year 2012, a new corona virus emerged in the
Middle East that caused an illness similar to SARS. First case of infection was
reported on 13 June, 2012 in Jeddah in Saudi Arabia. Similar to SARS, it spread
rapidly to healthcare workers suggesting human to human transmission. The
disease had a fatal outcome in immunocompromised patients and had a high
mortality rate of 33% and was named as Middle East Respiratory Syndrome
(MERS). It rapidly spread to adjacent countries Qatar, Kuwait, Bahrain,
Tunisia, and Jordan. The disease has been identified in 26 countries with 1621
confirmed cases and 584 deaths, with maximum cases in Saudi Arabia. It has
the same respiratory symptoms but can also cause kidney failure. Though there
is an association between bats and coronaviruses, studies have shown that
MERS‐CoV is not transmitted through bats. Studies done on camels using anti‐
MERS‐CoV antibodies have supported the 32 theory that dromedary camels are
the main source of transmission to humans.
• Just a few years after the MERS outbreak, history repeated itself in a
belligerent way in December 2019 in Wuhan, the largest metropolitan area in
China's Hubei province, where a cluster of patients were admitted to hospital
with a diagnosis of “pneumonia of uncertain etiology.” The first case was
reported to the WHO country office in China on December 31, 2019. By
January 2, 2020, 41 patients were identified as having the novel infection which
was later identified and named as COVID‐19, an acronym for corona virus

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disease 2019. Due to the speed and scale of transmission of the virus, WHO was
forced to declare it as a pandemic.

Three major epidemics in the last two decades have left many questions
unanswered. Apart from the research questions regarding the pathogenesis and
spread of disease, we really need to introspect whether urbanization and
globalization are disturbing the nature's balance? In this era, any infectious
disease can spread on a massive scale within days to cause global threat.

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4. DATA ANALYSIS AND INTERPRETATION
Table 4.1 showing age of respondents.

AGE NUMBER OF PEOPLE RESPONDENT PERCENTAGE

Below 20 9 18%
years
20yearsv-30 39 78%
years
Above 30 2 4%
years
Total 50 100%

Figure 4.1 showing age of respondents.

 Age Respondents

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Table 4.2 showing gender of respondents.
Gender Number of respondent Percentage
Male 21 42%
Female 29 58%
Other 0 0
Total 50 100%

Figure 4.2 showing gender of respondents Gender Respondents.

 Gender response

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Figure 4.3 showing occupation of respondents

 Percentage of occupation

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Table 4.4 showing the immediate concerns in the wake of COVID-19

Concerns Response Percentage

Health Services and job stability 12 24%
Education 23 46%
Social Interaction 12 24%
Others 3 6%

Figure 4.4 showing the immediate concerns in the wake of COVID-19.

 Immediate Concerns
The biggest concern, however, on everybody’s mind is the effect of the disease
on the education sector. The pandemic has significantly disrupted the education
sector, which is a critical determinant of a country’s economic future .

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 Table 4.5 showing recovery of economy from slowdown

Options Response Percentage

Yes 30 60%
No 8 16%
Can’t say 12 24%

Figure 4.5 showing recovery of economy from slowdown

 Recovery from slowdown

Among 50 respondents, 60% feels that there is being a recovery from economic
slowdown, 24% respondents can’t say about the recovery and 16% respondents
does not feel about recovery. And yes, the economy is showing encouraging
signs of recovery.

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Table 4.6 showing the details about job crisis in the economy.

Options Response Percentage

Yes 37 4%

No 3 6%

Can’t say 10 20%

Figure 4.6 showing the details about job crisis in the economy

 Job crisis

Among 50 respondents, 74% feels that there is a severe job crisis in all sectors
of the economy in the pandemic days, 20% respondents can’t say about the job
crisis and 6% doesn’t feel any job crisis in the economy. Thus, the outbreak of
the COVID-19 pandemic has led to a sudden shift in the dynamics of workforce
behaviour.

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Figure 4.7 showing the details of people who were working in other state
or country and returned home due to pandemic.

Among 50 respondents, 84% respondents are who or whose relatives work in

Kerala itself or does not returned home during the pandemic days and 16%
respondents are who or whose relatives work outside Kerala and returned home
during the pandemic days.

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 Figure 4.8 shows the sectors in which the people work and returned from the
other state during lockdown.

 Sector

Among 50 respondents, only 4% people work in Private sectors in other state or

country, 6% work in public sector and 90% people have a different answer.

Table 4.9 shows the number of respondents who can return to their work after
the pandemic.
Options Response Percentage
Yes 13 26%
No 4 8%
Don’t know 22 44%
No answer 11 22%

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Figure 4.9 shows the number of respondents who can return to their work after
the pandemic

 In Percentage

Among 50 respondents, 26% can return back to their work after the pandemic
comes to normal, 8% cannot return to their work, 44% does not know whether
they have to return or not and 22% have no answer.

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 Table 4.10 shows the data about whether the respondents were able to learn or
work from home.
Options Response Percentage
Yes 29 58%
No 7 14%
Sometimes 14 28%

Figure 4.10 shows the data about whether the respondents were able to learn or
work from home.

Among 50 respondents, 58% were able to learn or work from home, 28% feels
only sometimes and 14% were not able to learn or work from home. We are
being forced into the world’s largest work and learn from home experiment and
its not that easy

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 Table 4.11 shows the data about the support received from educational
institutions and employers.

Options Response Percentage

Yes 28 56%
No 7 14%
Sometimes 15 30%

Figure 4.11 shows the data about the support received from educational
institutions and employers.

 Percentage

Among 50 respondents, 56% respondents received support from their respective

institutions, 30% respondents received sometimes and 14% does not receive any
support. We're all in this together and want to do everything we can to get us all
through these challenging times.

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Figure 4.12 shows the number of respondents visited bank during pandemic
days.

Among 50 respondents, 80% visited bank during the pandemic days and 20% did
not visit the bank.

Figure 4.13 shows the data about practicing social distancing at the banks.

Among 50 respondents, 66% feels that banks practice social distancing, 20% does
not feel social distancing and 14% feels only sometimes.

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Table 4.14 shows the data regarding the rate of loan during Covid-19.
Options Response Percentage
Yes 7 14%
No 19 38%
Can’t say 24 48%

Figure 4.14 shows the data regarding the rate of loan during Covid-19

Among 50 respondents, 14% respondents feels that rate of loans have become
cheaper during Covid-19, 38% does not feel so and 48% respondents are not
able to feel whether the rates have increased or decreased. Banking channels are
working round the clock to cater to the needs of the public as well as financial
market.

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Table 4.15 shows whether the E-Commerce gets caught up in the rules

Options Response PERCENTAGE

Yes 31 62%
No 7 14%
Can’t say 12 24%

Figure 4.15 shows whether the E-Commerce gets caught up in the rules.

 E-Commerce
Among 50 respondents, 62% feels that E-Commerce gets caught up in the rules,
14% does not feel so and 24% are confused whether E-Commerce gets caught
up in the rules or not. Since the norm of social distancing has been initiated for
almost the entirety of 2020, the scope of E-Commerce is expected to surge.

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Figure 4.16 shows the data of respondents engaged in new digital communities
during lockdown.

 New Digital Communities

Among 50 respondents, 72% feels that they are not engaged in new digital
communities during lockdown and 28% feels that they have entered into new
digital communities. Online communities are emerging and proving to be
extremely valuable. Whether showing new value, maintaining connections, or
sharing knowledge and skills, online communities have become a necessary
resource during COVID-19.

Table 4.17 shows the data of what new digital communities the respondents
shifted to during lockdown.
Options Response Percentage
Google Meet, Zoom App 6 12%
Instagram, WhatsApp 3 6%
OTT and Others 2 4%
No Answer 39 78%

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Figure 4.18 shows the data of changes in consumption of junk food.

 Junk Food Consumption

Among 50 respondents, 50% respondents have decreased their consumption of
junk food during Covid-19, 14% have slightly decreased, 16% respondents have
no change in the consumption of junk food, 10% have slightly increased and
10% have increased their consumption of junk food.
Eating habits modification may threaten our health. Maintaining a correct
nutrition status is crucial, especially in a period when the immune system might
need to fight back.

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Table 4.19 showing data of the respondents about the need to visit a health
Centre during lockdown.

Options Response Percentage

Yes 15 30%

No 23 46%
Sometimes 12 24%

Figure 4.19 showing data of the respondents about the need to visit a health
centre during lockdown.

 Visiting Health Centre During Lockdown

Among 50 respondents, 46% respondents do not feel to visit a health centre
during lockdown, 30% respondents felt the need to visit a health centre and 24%
respondents felt frequently. Faced with challenges on a scale never experienced
before, healthcare workers everywhere, have had quickly adapted the new
realities of a COVID-19.

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Figure 4.20 showing the data response towards the statement: “I trust that
government is responding effectively to the ongoing crisis.”

Among 50 respondents, 40% respondents feel sometimes the government

is taking effective measures and sometimes not, 38% agree with the
statement, 12% strongly agree with the statement, 6% disagree with the
statement and 4% strongly disagree with the statement. We are in this
together and we will get through this together.

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 Table 4.21 showing the data about whether the lockdown was necessary for
reducing the spread of coronavirus.

Options Response Percentage

Yes 38 76%

No 5 10%

Sometimes 7 14%

Figure 4.21 showing the data about whether the lockdown was necessary for
reducing the spread of coronavirus.

 Response
Among 50 respondents, 76% feels that lockdown was necessary to reduce the
spread of coronavirus, 10% feels that lockdown was not necessary and 14%
respondents are neutral. Things don’t always go the way you planned them.
This too shall pass.

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 Table 4.22 showing the data of from which country the respondents think that
India should take lessons from in fighting the coronavirus.

Options Response Percentage

China 3 6%
New Zealand 8 16%
Japan 2 4%
Canada 2 4%
Italy 2 4%
Others 33 66%

Figure 4.22 showing the data of from which country the respondents think that
India should take lessons from in fighting the coronavirus.

Among 50 respondents, 6%16%,4%,4%,4% chose China, New Zealand, Japan,

Canada, Italy respectively and 66% chose other countries like Germany, UK,
America, Russia etc.

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Figure 4.23 shows the changes in stress and anxiety level of respondents during
Covid-19.

Among 50 respondents, 40% respondent’s stress and anxiety level have slightly
increased, 30% have no change in anxiety and stress level, 16% have slightly
decreased their anxiety level,10% have increased and 4% have decreased their
anxiety level. The COVID-19 pandemic has had a major effect on our lives.
Many of us are facing challenges that can be stressful, overwhelming, and cause
strong emotions in adults and children. Learning to cope with stress in a healthy
way will make you, the people you care about, and those around you become
more resilient.

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5. FINDINGS, SUGGESTIONS AND CONCLUSION
FINDINGS
It is revealed that when the global economy is on a slowdown mode no
emerging economy can grow at its normal pace. The Indian economy was
grappling with its own issues and COVID-19 made the matters worse. The
industry was facing demand problems, due to which business houses were
reluctant to undertake capex plans, unemployment was at its peak and exports
which were consistently down for several months. India has the problem could
be more acute and longer lasting, the economy was in parlous state due to
Covid-19 struck. Due to the measures adopted to prevent the spread of the
Coronavirus Disease 2019 (Covid-19), especially social distancing and
lockdown, non-essential expenditures are being postponed. This is causing
aggregate demand to collapse across the India. In addition to the demand
reduction, there will also be widespread supply chain disruptions, as some
people stay home, others go back to their villages, imports are disrupted, and
foreign travel is stopped. This will negatively affect production in almost all
industries. Gradually the shock will spread to manufacturing, mining,
agriculture, public administration, construction– all sectors of the economy.
This will adversely affect investment, employment, income, and consumption,
pulling down the aggregate growth rate of the economy. Like India, several
international economies are becoming cognizant of the risk they face by being
overly dependent on one market.
Making the current situation a learning opportunity, the findings from the data
received are:

1. 18% of the respondents are below 20 years, 78% are between 20 years
and 30 of age and 4% are of the age above 30 years.

2. 42% are males and 58% are females.

3. 84% are students, 4% belongs to health sector, 4% belongs to engineering

and construction work, 4% belongs to accountant and banking sector,
2% belongs to teaching sector and 2% belongs to other sectors.

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4. 46% shows immediate concern in education sector, 24% in social
consideration, 24% in health services and job stability and 6% shows
immediate concern in other factors.

5. 60% feels that there is being a recovery from economic slowdown, 24%
respondents can’t say about the recovery and 16% respondents does not
feel about recovery.

6. 74% feels that there is a severe job crisis in all sectors of the economy in
the pandemic days, 20% respondents can’t say about the job crisis and
6% doesn’t feel any job crisis in the economy.

7. 84% respondents are who or whose relatives work in Kerala itself or does
not returned home during the pandemic days and 16% respondents are
who or whose relatives work outside Kerala and returned home during
the pandemic days.

8. 4% people work in Private sectors in other state or country, 6% work in

public sector and 90% people have a different answer.

9. 26% can return back to their work after the pandemic comes to normal,
8% cannot return to their work, 44% does not know whether they have to
return or not and 22% have no answer.

10.58% were able to learn or work from home, 28% feels only sometimes
and 14% were not able to learn or work from home.

11.56% respondents received support from their respective institutions, 30%

respondents received sometimes and 14% does not receive any support.

12.80% visited bank during the pandemic days and 20% did not visit the
bank.

13.66% feels that banks practice social distancing, 20% does not feel social
distancing and 14% feels only sometimes.

14.14% respondents feels that rate of loans have become cheaper during
Covid-19, 38% does not feel so and 48% respondents are not able to feel
whether the rates have increased or decreased.
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15.62% feels that E-Commerce gets caught up in the rules, 14% does not
feel so and 24% are confused whether E-Commerce gets caught up in the
rules or not.
16.72% feels that they are not engaged in new digital communities during
lockdown and 28% feels that they have entered into new digital
communities.

17.12% uses google meet or zoom app, 6% uses Instagram or WhatsApp,

4% uses OTT and others and 78% does not shift to any new digital
communities.

18.50% respondents have decreased their consumption of junk food during

Covid-19, 14% have slightly decreased, 16% respondents have no change
in the consumption of junk food, 10% have slightly increased and 10%
have increased their consumption of junk food.

19.46% respondents do not feel to visit a health center during lockdown,30%

respondents felt the need to visit a health center and 24% respondents felt
frequently.

20.40% respondents sometimes feels that the government is taking effective

measures and sometimes not, 38% agrees with the statement, 12%
strongly agree with the statement, 6% disagree with the statement and 4%
strongly disagree with the statement.

21.76% feels that lockdown was necessary to reduce the spread of

coronavirus, 10% feels that lockdown was not necessary and 14%
respondents are neutral.

22.6%,16%,4%,4%,4% chose China, New Zealand, Japan, Canada, Italy

respectively and 66% chose other countries like Germany, UK, America,
Russia etc. These are the countries that respondents feel India should
learn from to fight against corona virus.

23.40% respondent’s stress and anxiety level have slightly increased, 30%
have no change in anxiety and stress level, 16% have slightly decreased
their anxiety level,10% have increased and 4% have decreased their
anxiety level.
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SUGGESTIONS
Here are a few suggestions that can be considered to deal with the economic
crisis.
I. The first measure must be to protect the workers in the informal sector,
who will be badly affected, and yet have little savings to tide them over
the shock. This will not be easy to do, but there are two mechanisms that
could be utilised: MNREGA (Mahatma Gandhi National Rural
Employment Guarantee Act) and Jan Dhan accounts.

II. For organised sector, the objective should be to make the banks
somewhat less risk averse in their overall lending, while preserving their
authority to distinguish between viable and non-viable firms.

III. To increase liquidity and increase consumer confidence, the Government

of India should provide a pay roll tax holiday for a quarter to help support
demand in these stressful times.

IV. MSMEs should be provided concessional working capital loan,

equivalent to one to three month’s (based upon the extent of disruption)
average turnover of last year. To support them, when the supply chains
have been impacted globally, MSMEs should also be provided
concessional finance at a rate of 5% for three months through SIDBI. The
interest payment for such financing can be adjusted over the next three
years as part of GST.

V. CSR spending by corporate organisations should be directed towards a

response fund dedicated for the management of the pandemic.

VI. A disaster management framework focused on managing disease

outbreak will become essential in the large and densely populated
country.

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CONCLUSION
In India, life has not yet started in a systematic manner and needs to be
prioritised alongside. Necessary measures to combat the economic impact from
the rapidly spreading coronavirus, the Government policymakers would need to
implement a substantial targeted fiscal, broader monetary stimulus, and policy
rate cuts to help normalize the economic situation. As the COVID-19 crisis
continues to expand, manufacturers will likely face challenges on numerous
fronts. They will need to coordinate closely with the public sector to forge plans
that are essential to both public safety and the solvency of their workforce,
while keeping the lights on in their operations. Some will be austere, but
austerity measures should be tempered to preserve long-term objectives.

The survey is based on “impacts of Covid-19 in the Indian economy” with

regard to Christ College students. There were 50 respondents in which there
were 21 males and 29 females. The survey mainly conducted to know how
much the economy was affected due to Covid-19. It was found that all the
sectors are equally affected due to the pandemic. Many have lost their job,
many have shifted to various digital communities, many have suffered from
various mental and physical issues, many of the people found it difficult to pay
their loans and debt. We are only at the beginning of this crisis, but it is
challenging us in ways that are unprecedented in modern times.

The survey really helped me to get more knowledge about the impacts of
Covid-19 in different sectors of the Indian economy. I was also able to
understand the problems faced by the people due to this severe pandemic.

“IT MIGHT BE STORMY NOW, BUT RAIN DOES NOT LAST

FOREVER.”

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QUESTIONNAIRE ON IMPACT OF COVID-19 IN
INDIAN ECONOMY
Dear students,
As part of academics, we are conducting a study on “Impact of Covid-19 in the
Indian Economy” among the students of B.Com Department, D.S.P.M.U.
Ranchi.

If you could sacrifice some of your valuable time to fill in the questionnaire, it
would help in the completion of our study.

1. Age __________________

2. Gender • Male • Female

3. Occupation
 Accountancy, banking and finance, business, consulting, management,
marketing, advertising

 Charity and voluntary work, creative arts and design.

 Engineering and construction

 Agriculture • Health sector

 Information Technology, media and internet

 Law enforcement and security

 Teaching sector

 Student

 Others

P a g e 56 | 60
4. What are your immediate concerns in the wake of COVID-19 Pandemic
scenario?
 Health Services and Job Stability
 Education
 Social Interaction
 Others

5. Do you feel economy is recovering from slowdown?

 Yes
 No
 Can't say

6. Do you feel a severe Job crisis in almost all the sectors of the economy?
 Yes
 No
 Can't say

7. Are you a person or is there any of your family member who was working in
other state or country and returned home due to the pandemic?
 Yes
 No

8. If yes, what sector were you/he/she working in?

__________________________

9. Will you/he/she be able to return to your/their work after situations return to

normal?
 Yes
 No
 Don’t know

10. Have you been able to continue learning or working from home during the
pandemic days?
 Yes
 No
 Sometimes

P a g e 57 | 60
11. Were your educational institutions or employers provide any type of support
to you during the Covid-19 days?
 Yes
 No
 Sometimes

12. Did you visit the bank for any purpose during the pandemic days?
 Yes
 No

13. If YES, was anyone practicing social distancing at the bank?

 Yes
 No

14. Do you feel loans have become cheaper during the Covid 19 days?
 Yes
 No
 Can't say

15. Do you feel E-commerce gets caught up in rules?

 Yes
 No
 Can't say

16. Were you engaged in new digital communities during the lockdown and if
so what kind of communities?
 Yes
 No
________________________

17.During COVID pandemic, how has your consumption of junk food/fast food
and fried food changed?
 Decreased
 Slightly decreased
 Similar
 Slightly increased
 Increased

P a g e 58 | 60
18.Have you felt the need to visit a medical facility ever since the lockdown
began?
 Yes
 No
 Sometimes

19.How much do you agree with this statement “I trust that government is
responding effectively to the ongoing crisis”?
 Strongly agree
 Agree
 Disagree
 Strongly disagree

20.Do you think that the lockdown was necessary for reducing the spread of the
coronavirus?
 Yes
 No
 Sometimes

21.Which country do you think India should take lessons from in fighting the
coronavirus?
_____________________________

22.During COVID pandemic, how have your stress and anxiety levels changed?
 Decreased
 Slightly decreased
 Similar
 Slightly increased
 Increased

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BIBLIOGRAPHY

Websites:
1. Indian Economy: An Overview. (2021). Retrieved 16 March 2021,
from https://www.investindia.gov.in/team-india-blogs/indian-
economyoverview

2. India, Economy, I., & Statistics, A. (2021). Indian Economy:

Overview, Market Size, Growth, Development, Statistics...IBEF.
Retrieved 16 March 2021, from https://www.ibef.org/economy/indian-
economyoverview

3. COVID-19 pandemic in India. (2021). Retrieved 16 March 2021, from

https://en.wikipedia.org/wiki/COVID-19 pandemic in India

4. Factors influencing the epidemiological characteristics of pandemic

COVID 19: A TISM approach. (2021). Retrieved 16 March 2021, from
https://www.tandfonline.com/doi/full/10.1080/20479700.2020.1755804
Journals:

5. Das, D., & Patnaik, S. (2021). The Impact of COVID-19 in Indian

Economy – An Empirical Study. Retrieved 16 March 2021, from
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3636058

6. Effect of COVID-19 on Economy in India: Some Reflections for

Policy and Programme - Monika Chaudhary, P. R. Sodani, Shankar Das,
2020. (2021). Retrieved 16 March 2021, from
https://journals.sagepub.com/doi/full/10.1177/0972063420935541

7. (COVID-19), C., Health, E., Disease, H., Disease, L., Management, P.,
& Conditions, S. et al. (2021). Coronavirus History: Origin and
Evolution. Retrieved 16 March 2021, from
https://www.webmd.com/lung/coronavirus-history.

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