COVID-19: a decision-making approach for evaluating the economic sectors of india during pandemic

Abstract

The advent of COVID-19 has escalated into a pandemic and, as a result of infected cases and human fatalities, it tends to rise day by day across the globe. This also ignited concerns of a looming fiscal slump and recession on the different economic sectors as well. The effect of this pandemic is much more significant in developing countries like India due to the already declining growth rate, inadequate health services, and a growing population residing in severe poverty.  This paper attempts to understand the impact of COVID‐19 pandemic on the Indian economic sectors by employing a hierarchical approach, based on multi-criteria analysis to understand the impact on primary, secondary, tertiary and quaternary sectors by concerning the political, economic, socio‐cultural and technology consequences of COVID‐19. A process-based multi-criteria hierarchical approach has been used to determine the effect of the same and has been prioritized in the sequential sequence.