Impact of COVID-19 on the World Economy

Abstract

Coronavirus is impacting the world we live in for the most vanquished way and all regions of the planet are left with hung economic loss. This pandemic has not just negatively affected medical care frameworks and communities’ lives yet additionally influenced world economies and brought about employment misfortunes, and business disturbances, and made us head towards one of the most awful times ever for individuals on the planet. Nearly, every one of the enterprises is going through huge decreases in their business, and the effect is so much tremendous of this pandemic, that they are extending more terrible times ahead. The outburst of the Covid-19 pandemic has a remarkable shock to the Indian economy. The economy was at that point in a dreadful state before COVID-19 struck. With the persistent far-reaching lockdown, worldwide financial crisis, and related interruption of interest and supply chains, the economy has likely confronted an extended time of stand stillness. The extent of the financial effect is presently subject to the span and seriousness of the well-being emergency, the period of the lockdown, and how the circumstance unfurls once the lockdown is lifted. This study depicts the condition of the global economy in the pre-COVID-19 period, surveys the possible effect of the shock on different portions of the economy, and dissects the strategies that have been declared such a long way by the central government and the international banks to improve the financial shock and set forward a bunch of strategy proposals for explicit areas.