covid effects on economy

1. RKATULLAH UNIVERSITY , BHOPAL [ M.P. ]
DEPARTMENT OF LEGAL STUDIES &
RESEARCH
ECONOMICS
|| INTERNAL ASSIGNMENT||
 SUBMITTED BY :- Devansh Mishra
 SUBMITTED TO :- Dr. ISHRAT QURESHI
 CLASS :- B.A. LL.B. (Hons.) 1ST YEAR 1ST Semester
TOPIC :- COVID EFFECT IN ECONOMIC SYSTEM

2. PRESENTATIONOUTLINE
INTRODUCTION
TWIN ECONOMIC SHOCK
IMPACTS OF COVID IN ECONOMIC
SYSTEM:-
° AGRICULTURE
° AVIATION
° TECH INDUSTRY
° EDUCATIONAL SYSTEM
POSITIVE IMPACT
CONCLUSION

3. A THOUSAND YEARS SCARCE SERVE TO
FORM A STATE BUT , AN HOUR MAY LAY IT IN
DUST!!
— George Gordon Byron
”

4. INTRODUCTION
 On 31 December 2019, WHO was
informed of cases of pneumonia of
unknown cause in Wuhan City, China.
 The spread of COVID-19 continues to
threaten the public health situation
severely (Chinazzi et al., 2020) and
greatly affect the global economy.
 The key protection measure adopted
universally is the lockdown, which has
forced people to work from home
wherever possible.
 The chances of the worst-case scenario,
with all major economies suffering a
significant shock, are rising by the day

5. COUNTRIES WITH THE HIGHEST RECESSION CAUSED BY
covid-19

6. WELCOME TO A NEW
GLOBAL RECESSION

7. NIKKE
I
225
Increased uncertainty, loss of incomes,
weaker growth prospects, curtailment of
spending options due to closure of all
contact-sensitive activities, & resultant fall
in consumption and investment-leading to
the demand shock.
The initial supply shock, resulting in
wage and income loss, could impact
aggregate demand and impair
productive capacity leading to supply
shocks.
TWINECONOMICSHOCK
DEMAND SHOCK SUPPLY SHOCK

8. IMPACT ON AGRICULTURE SECTOR
The poultry sector saw sub-stantial losses
due to reduced institutional demand, while
the prices of chickens fell by over 25%.
The impact of the lockdowns on the dairy sector
was high due to disruptions in transportation
services, especially in rural areas away from
urban centers
The impact of the lockdowns on the sector was
moderate, in the form of a drop in procurement prices
by 30% from farmers due to reduced demand from
institutional buyers.

9. 120 (ON
AVG.)
Passengers per flight
25M
Passengers in total
$10bn+
in losses
FLIGHTS FROM USA TO OTHER
REGIONS
200,000+
Canceled flights

10. Impact OF COVID-19 ON THE TECH
INDUSTRY
Smart speakers
Consoles
Computers
Smartphones
TV sets
-160%
-121%
-101%
-123%
-104%
-45%
Smartwatches

11.  Public schools and low-fee private
schools especially are likely face a
larger impact on teaching and learning,
owing to heavy reliance on brick and
mortar means of delivering lessons.
 In higher education, most Higher
Education Institutions (HEI) are not fully
geared to implement online learning,
with constraints around availability of
digital content, technology and delivery
capabilities
 Traditional forms of education moving
to digital platforms, has led to the
majority of adolescents spending
significantly more time in front of
screens.
EDUCATIONALSYSTEM
PUBLIC FINANCING IN EDUCA

12. POSITIVEIMPACTOF COVID
 The SARRC countries reunited over COVID-19 and set up financial allocations
for supporting poorer nations. The giant country India contributed USD 10
million followed by Sri Lanka which contributed USD 5 to the fund.
 The giant country India contributed USD 10 million followed by Sri Lanka
which contributed USD 5 to the fund.
 Medical systems in any country will be improved to sustainable levels to face
a pandemic situation.
 Domestic production could increase due to family or cottage level agricultural
practices including other small-scale handicraft productions in society.
 Increase the level of innovations amongst the people.

13. CONCLUSION
WE THINKWEAREDONEWITHPANDEMIC,B’T IS NOT DONEWITHUS!!
 Our current model of economic growth has led to increasing
deforestation and loss of biodiversity, accelerated urbanization,
intensive animal farming, global travel.
 Be fast, have no regrets... If you need to be right before you move,
you will never win.
 The choices we make today will directly affect the way this crisis
unfolds and so the lives of billions of people.
 Economic crisis often lead to creative destruction.
 The COVID-19 pandemic has been called the ‘great accelerator’ of
digital transformation