Coronavirus and Its Impact on Indian Sectors

Abstract

The year 2020 started off with a wildfire in Australia, massive swarms of locust invading crops resulting in major crop damage in sub-African subcontinent expanding through Asia now last updated in Rajasthan, India and now a widespread virus known as COVID-19, as the year continued the outcomes of pandemic resulted in year-long effects and causing even more major disruption in economic as well as mortality. With over 4 million infected and 0.2 million deaths all over the world, Coronavirus is affecting the livelihood of people in severe manners. Fear among all of us has led us to low consumptions, minimal travel and surging up demands in healthcare. The ongoing spread of this pandemic has major effects in various sectors and volatility in markets has proven the disruptions caused by this pandemic. Limited supplies of food and strict lockdowns are causing food stocks and resources of the country to deplete at a much rapid rate than ever. It might seem like an opportunity for the healthcare and pharmaceutical sector to boom but the current infrastructure of our country cannot support the burden and currently, the healthcare sector is in twin burden of first having more manpower and equipment as well as shortfall in patients of other origins. Having the country in a state of lockdown has made the travel and tourism sector to a negative growth rate with debt increasing as liabilities in assets. The economic impact and the resolution of governments to work for a solution to this pandemic are commendable but the efforts are still not enough and the pandemic is still tightening its grip all over the world.