Open AccessCovid-19 Pandemic And Its Likely Effect On Economic Development: An Opinion Survey of Professionals
Author(s) -
Atul Kumar,
Amol Gawande,
Vinaydeep Brar
Publication year - 2021
Publication title -
international journal of multidisciplinary
Language(s) - English
Resource type - Journals
ISSN - 2774-5368
DOI - 10.11594/ijmaber.02.05.03
Subject(s) - pessimism , covid-19 , barrel (horology) , pandemic , great depression , economic recovery , agency (philosophy) , depression (economics) , balance (ability) , economics , economy , history , political science , development economics , economic growth , sociology , psychology , law , social science , keynesian economics , outbreak , medicine , philosophy , archaeology , pathology , virology , epistemology , disease , neuroscience , infectious disease (medical specialty)
The air is full of pessimism. The impact of Covid-19 has been anticipated as more awful than the Great Depression of 1930. Consistently analysts and agency reports are plunging into new bottoms of a tumbledown in economic activities. Indian economy, however, has a somewhat slightly different story to tell at this hour of crisis. The silver lining for the Indian economy originates from a lofty fall in crude oil costs from around $70 per barrel to a record multi-year low of $22 per barrel. They have ascended to levels of around $40 per barrel over the most recent months. This benefit increases can somewhat balance the immediate misfortunes due to Covid-19. Simultaneously, dreams like a $5 trillion economy no longer look even a distant chance. This article checks out the possible effect of Covid-19 on Indian economic development through a survey of 400 professionals the nation over.