Hello student ,

The economic impact of the COVID-19 pandemic in India has been largely disruptive.As per the official data released by the ministry of statistics and program implementation, the Indian economy contracted by 7.3% in the April-June quarter of this fiscal year.The GDP growth had crashed 23.9% in response to the centre’s no notice lockdown. India’s GDP shrank 7.3% in 2020-21. This was the worst performance of the Indian economy in any year since independence.By 24 April,2020 the unemployment rate had increased nearly 19% within a month, reaching 26% unemployment across India.

Impact of Globalization in Indian Economy is given below.

Explanation:

Globalization is a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.

Advent of New Economic Policy -

After suffering a huge financial and economic crisis Dr. Man Mohan Singh brought a new policy which is known as Liberalization, Privatization and Globalization Policy (LPG Policy) also known as New Economic Policy,1991 The following measures were taken to liberalize and globalize the economy:

1. Devaluation: To solve the balance of payment problem Indian currency were devaluated by 18 to 19%.

2. Disinvestment: To make the LPG model smooth many of the public sectors were sold to the private sector.

3. Allowing Foreign Direct Investment (FDI): FDI was allowed in a wide range of sectors such as Insurance (26%), defense industries (26%) etc.

4. NRI Scheme: The facilities which were available to foreign investors were also given to NRI's.

Consequences of Globalization:

Globalisation has intensified interdependence and competition between economies in the world market. This is reflected in Interdependence in regard to trading in goods and services and in movement of capital. As a result domestic economic developments are not determined entirely by domestic policies and market conditions.

Impact of Globalization on Agricultural Sector:

Agricultural Sector is the mainstay of the rural Indian economy around which socio-economic privileges and deprivations revolve and any change in its structure is likely to have a corresponding impact on the existing pattern of Social equity. Globalization has helped in:

• Raising living standards,

• Alleviating poverty,

• Assuring food security,

• Generating buoyant market for expansion of industry and services, and

• Making substantial contribution to the national economic growth.

Impact of Globalization on Industrial Sector:

Globalization of the Indian Industry took place in its various sectors such as steel, pharmaceutical, petroleum, chemical, textile, cement, retail, and BPO.

Globalization means the dismantling of trade barriers between nations and the integration of the nations economies through financial flow, trade in goods and services, and corporate investments between nations. Globalization has increased across the world in recent years due to the fast progress that has been made in the field of technology especially in communications and transport.

Impact on Financial Sector:

Reforms of the financial sector constitute the most important component of India’s programme towards economic liberalization. The recent economic liberalization measures have opened the door to foreign competitors to enter into our domestic market.

Impact on Export and Import:

India's Export and Import in the year 2001-02 was to the extent of 32,572 and 38,362 million respectively. Many Indian companies have started becoming respectable players in the International scene

Advantages of Globalization:

• There is an International market for companies and for consumers there is a wider range of products to choose from.

• Increase in flow of investments from developed countries to developing countries, which can be used for economic reconstruction.

• Greater and faster flow of information between countries and greater cultural interaction has helped to overcome cultural barriers.

• Technological development has resulted in reverse brain drain in developing countries.

Demerits of Globalization (Challenges):

• The outsourcing of jobs to developing countries has resulted in loss of jobs in developed countries.

• There is a greater threat of spread of communicable diseases.

• There is an underlying threat of multinational corporations with immense power ruling the globe.

• For smaller developing nations at the receiving end, it could indirectly lead to a subtle form of colonization.

Conclusion:

India gained highly from the LPG model as its GDP increased to 9.7% in 2007-2008. In respect of market capitalization, India ranks fourth in the world. But even after globalization, condition of agriculture has not improved. The share of agriculture in the GDP is only 17%. The number of landless families has increased and farmers are still committing suicide. But seeing the positive effects of globalization, it can be said that very soon India will overcome these hurdles too and march strongly on its path of development.

Hello,

According to the survey, COVID-19 is having a 'deep impact' on Indian businesses, over the coming month's jobs are at high risk because firms are looking for some reduction in manpower. Further, it is added that already COVID-19 crisis has caused an unprecedented collapse in economic activities over the last few weeks.

For more take the help of different article so please search on google and find something relevant and read it and after that you can easily write or prepare.

Hope this help

Thank you

Hello,

For beginners who are completely new to the domain of economics, go through NCERTs book for gaining the understanding of the fundamentals, the content is written is easy to understand language, and there are many good creators in YouTube as well who have uploaded these lessons as well, so if you're someone who feel more comfortable in understanding concepts through audio-video medium, you can refer this, other than that personally I have found Indian Economy by Ramesh Singh to be a great book as all the topics are covered in elaborative manner, and the language too is easy to comprehend, you can also refer Indian Economy by Sanjiv Verma which is equally a good option, other than this supplement your preparation with budget and economic survey, you can go through yojana magazine, and the economic edition of pratiyogita darpan too is quite good, if you have time you can go through that, even the regular book which comes out every month is pretty good for preparation of any compeitiive exam.

Hi aspirant, in the syllabus of CPGET MA economics entrance syllabus there is the Indian Economy topic into it. Also various topics or yiu can say the full explanation of each and every portion of it's syllabus is mentioned in the below link;

https://university.careers360.com/articles/oucet-syllabus

Thank You.

Hello student,

Here is a sort article which can help you to make a presentation on the effect of covid-19 pandemic on Indian economy.

We all know that the economic impact of covid-19 has been largely disruptive. There is a large fall in GDP of financial year 2020-21 of about -24% which is basically for the pandemic situation. There is a huge collapse in tourism industry and earning of government from taxes. Not only that there is a sharp fall in unemployment rate in India during that time.

Hope this will help you

Hello aspirant,

Hope you are doing well!!

Effect of Covid-19 pandemic on the Indian Economy :-

Due to Covid-19 pandemic the economy of our country has been suffered. Almost all the sectors haver been tremendously disruptive.

India's economy has already been facing issues of slow down in the recent past.

Covid-19 impact the economy of our country fundamentally different from recessions.

Sectors which are mostly facing issue are Tourism, Retail, Aviation, Capital markets, Oil, MSME's etc.

Pandemic has also effect Education and E-learning. As world we live in has been involving with time and technology.

I hope this will help you.

Feel free to ask any query!!

Hi Aspirant,

Covid 19 has devastating effect on the Indian Economy.Many people have lost jobs and many are still suffering from the hikes in essential commodity price .Many are not being able to meet the daily livings.Business has a reduced profit due to the deceased spread of the business and has also laid to a decresed rate of Indian Economy.The price of everything has risen and is still suffering a bad condition.

Hope it helps!!

Hello,

You have to prepare the contents of the presentation from books as well as Google reference. Search things that are relevant. The question is very simple how has the pandemic effected business across the world.

While there is no way to tell exactly what the economic damage from the global COVID-19 coronavirus pandemic will be, there is widespread agreement among economists that it will have severe negative impacts on the global economy.

The impact of coronavirus pandemic on India has been largely disruptive in terms of economic activity as well as a loss of human lives.

Online food grocery platforms are heavily impacted due to unclear restrictions on movements and stoppage of logistics vehicles.

Like this you can explain in your PowerPoint presentation template.

Hopefully this will help!!!

Hello,

This you have to prepare yourself right. First collect all the things required for the presentation and then login to Microsoft PowerPoint and start making one.

The impact of coronavirus pandemic on India has been largely disruptive in terms of economic activity as well as a loss of human lives. Almost all the sectors have been adversely affected as domestic demand and exports sharply plummeted.

The outbreak of COVID-19 brought social and economic life to a standstill. In this study the focus is on assessing the impact on affected sectors, such as aviation, tourism, retail, capital markets, MSMEs, and oil.

There is so much to say on this on this topic so kindly search the Google for more information.

Hope this helps!!!