Economic Impact of Coronavirus / Covid-19 in India and Globally || theeco.info
Today we are discus about Economic Impact of Coronavirus. The global economy is under great stress due to the coronavirus. Unemployment has risen sharply in most developed country economies, while stocks have suffered a major decline in the Economic Downturn. |
| Economic Impact of Coronavirus / Covid-19 || theeco.info |
Today, due to Coronavirus, the condition of Lockdown is spread all over the world. Because of which all the markets are closed, people have to stay in the houses, in this situation the economy is facing a Global Economy Recession.
"The real war for India will begin after the Corona crisis gets over" - Nirmal Jain
Economic Impacts of Coronavirus
- How the economy is related to coronavirus?
- How is coronavirus affecting the economy?
- What are the economic slowdown statistics?
- How to reduce the Economic Impact in Corona time?
- My positive thought in Economic Impacts of Coronavirus.
We will know the answers to all these questions in today's blog: -
How the economy is related to coronavirus?
The economy depends on people meeting each other and exchanging goods services and skills. Coronavirus spreads at a rapid pace so a large part of the economy has been stopped to stop the virus. People are not going out or shopping because of lockdown. Due to which the demand has come down and the economy has slowed down.There is a shortage in demand and supply due to lockdown. An economic downturn is caused by a fall in either of these two, but at the moment there is a sharp decline in both, which can be very bad for the economy.
There are Three stages of Economic Impact.
- Economy Slowdown.
- Economy Recession.
- The Depression.
Economy Slowdown.
Economy Slowdown is a situation in which the GDP of the country falls slowly-slowly. The economy impact also falls slowly-slowly. In this situation, the economic system gets fixed in a short of time.
Economy Recession.
The second situation is Economy Recession, in which the country's economic activity declines. Currently, the state of Economy Recession remains in India. This situation has happened due to the shutdown of the economy activity in Lookdown, only the essential shops are open due to which the economy has downfall.
The Depression
The third situation is The Depression of Economy, in which the economy remains in effect for a long time, it takes a long time for any country to get out of this situation.
How is coronavirus affecting the economy?
Coronavirus has shut down an extensive portion of the economy in just a few weeks. This means that we are going into economic slowdown very fast, otherwise till now we were talking about economy growth.More than 300 million people in India depend on subsistence income which means that they are the people who earn as much money as they need.
More than 140 million people in India are internal migrants. This means that it is people who move from one place to another to earn money so that they can meet their basic needs. (They also include drivers) But the Corona epidemic has infected them a lot and as a result unemployment figures have risen to 23%, which has affected the economy considerably.
From small businesses to large companies have also been closed, people employed in them have become unemployed.
What are the statistics of economic impact by coronavirus?
The International Monetary Fund (IMF) has currently released a report of an economic impact in which they reported an economic slowdown of -3%. In which he compared the present Lookdown to The Great Depression of 1929.The Great Lockdown: Worst Economic Downturn Since the Great Depression.
 |
| the statistics of economic impact by coronavirus || theeco.info |
What is Finance? Types of finance and its benefits.
What is Insurance? and Types of insurance.
What is Economics? Basic concepts, Types and importance of Economics.
How to reduce the Economic Impact in Corona time?
We cannot say for sure that this Economic Impact can be reduced completely because it is mainly dependent on the lockdown time. The longer the recession continues, the more companies will experience financial crisis, and the more unemployment will be expected. But we can use this time like: - |
| Reduce the Economic Impact in Corona time || theeco.info |
Economic Relief Package.
This Solution for Small Business. In this situation of coronavirus, every government all over the world is offering an Economic Relief Package to uplift Small Businesses around them. Small businesses and enterprises have very good opportunity to work with the government so that they can reach their products and services to their costumer. By doing so, their business will not be completely closed in the downturn of the economy.Updated and Upskills.
This solution is for people who are employed or unemployed or have employability or who have been layoff from their job services. Due to the Coronavirus, the time of lockdown is very important, using which you can increase your skills. You can update and upgrade your skills using your resource. When the Corona Crisis is over, you can become a batter employee person who will be updated and up-skilled for the job.Online Resource.
Due to Coronavirus, all people have to remain in lockdown. This is also true for defeating the corona, but to reduce the economic impact, we can use the lockdown time. We should pursue our business for online resources, which will be very advanced in the coming times.My positive thought in Economic Impacts of Coronavirus.
It is still to be seen that the economy of India is right compared to other countries, although the Economy Recession has definitely come in position but it is much less than others.At the end of coronavirus, India have a great opportunity to overcome economy recession and also the GDP growth can be put on the track very faster. How its work? Let’s I tell
Currently, China has emerged as the originator of the corona virus. Due to which the relations of Britain, America and other largest countries with China deteriorated. As a result, large multinational companies from various countries based in China, which have closed down, will change their company's location elsewhere.
In all this, India will have a very good opportunity to encourage foreign country to settle here so that it can see the J Curve in the economy.
That is all we have on this topic "Economic Impact of Coronavirus / Covid-19 in India and Globally." if you have any question please do write in the comment section below and do not forget to Subscribe to our Newsletter for more such great post have a great time ahead.
Get Interesting Articles Every Day!
- Get interesting knowledge you probably never knew before
- Be the first to know about new things in the World of Business
0 Response to "Economic Impact of Coronavirus / Covid-19 in India and Globally."
Post a Comment
Please Attention Before Commenting