effect of the covid 19 pendemic on the indian economy
Hello Candidate,
Covid-19 has caused a great effect not only on the India's Economy , but also on the World's Economy . The world economy is facing a great crises today. Economies across the globe are seeing a sharp contraction in growth caused by the economic lockdown to control the spread of the virus. This has led to a supply shock, reduction in output, employment and consequently, demand.
The Indian economy was already facing serious structural issues and facing a downturn, which probably have receded to the background with the more serious threat of the pandemic at hand.
The economic impact of the coronavirus pandemic may lead to higher non-performing assets and capital erosion of banks while the redemption pressure on non-banking finance companies (NBFCs) and mutual funds are emerging as crucial stress points in the financial system.
Hope it helps.
