The COVID-19 pandemic has significantly impacted the Indian economy.
(1) The GDP growth rate fell to 3.1% in the fourth quarter of 2020 according to the Ministry of Statistics, and contracted by 24% in the first quarter of 2021 compared to the previous year.
(2) All sectors of the economy were affected, with the unemployment rate rising to 26% in April 2020 during lockdowns before decreasing. Over 14 crore Indians lost employment initially.
(3) The primary, secondary, and tertiary sectors all saw declines. Agriculture production dropped due to labor shortages, manufacturing output fell, and services such as tourism, retail, and logistics were severely impacted by restrictions.
The document discusses the impact of COVID-19 on the Indian economy. It notes that India reported its first COVID-19 case in January 2020. The pandemic caused a catastrophic health crisis and the lockdown measures implemented in March 2020 had a significant negative impact on various economic sectors in India like tourism, manufacturing, and MSMEs. This led to a sharp rise in unemployment and fall in GDP. The government announced various economic relief packages to support the economy during the crisis.
The Covid-19 pandemic had a severe negative impact on the Indian economy. In the fiscal year 2020-21, India's GDP contracted by 7.3%, the worst contraction ever recorded. Key sectors like industrial, domestic, and agriculture were hit hard. The pandemic led to rising unemployment, with the urban unemployment rate doubling to over 20% in the first quarter of 2020 due to lockdowns. While restrictions have eased, the economic effects of the pandemic continue to be felt in India.
The document discusses the impact of COVID-19 on various areas including the global and Indian economy, business sectors, society, and education. Some key points:
- The pandemic severely impacted the global and Indian economy through reduced GDP growth, decline in market investments, disruption of supply chains, and job losses.
- Major business sectors like automobile, real estate, healthcare, and services were negatively impacted through shutdowns, reduced demand, cash crunch, and delayed payments.
- The education sector faced challenges like transition to online learning, lack of resources for some students, and pressure on teachers.
- Socially, lockdowns increased domestic violence, revived social discrimination, negatively impacted mental health and living standards,
Impact of covid 19 on Indian Economy & Banking SectorDr Praveen S
Impact of Covid-19 on indian Economy & Banking Sector
Topics covered:
- What is Covid-19 ((Corona Virus Disease) ?
- Socio - Economic Effects of Covid-19 on global society.
- How Covid-19 hit India?
- Impact of COVID-19 on Indian Economy.
- Impact of COVID-19 on Indian Banking Sector.
- Steps to be taken by Indian Banks.
The COVID-19 pandemic has greatly disrupted India's economy. India's GDP declined by 24% in the second quarter of 2020-2021, the largest contraction ever. Unemployment rose sharply as various sectors like tourism, hospitality, and aviation were hit hard by lockdowns and reduced consumer demand. However, sectors like pharmaceuticals and telecom experienced continued or increased activity. The government announced various economic relief measures totaling over $24 billion to help tackle the economic effects of the pandemic.
The document discusses the impact of COVID-19 on the Indian economy. It notes that India reported its first COVID-19 case in January 2020. The pandemic caused a catastrophic health crisis and the lockdown measures implemented in March 2020 had a significant negative impact on various economic sectors in India like tourism, manufacturing, and MSMEs. This led to a sharp rise in unemployment and fall in GDP. The government announced various economic relief packages to support the economy during the crisis.
The Covid-19 pandemic had a severe negative impact on the Indian economy. In the fiscal year 2020-21, India's GDP contracted by 7.3%, the worst contraction ever recorded. Key sectors like industrial, domestic, and agriculture were hit hard. The pandemic led to rising unemployment, with the urban unemployment rate doubling to over 20% in the first quarter of 2020 due to lockdowns. While restrictions have eased, the economic effects of the pandemic continue to be felt in India.
The document discusses the impact of COVID-19 on various areas including the global and Indian economy, business sectors, society, and education. Some key points:
- The pandemic severely impacted the global and Indian economy through reduced GDP growth, decline in market investments, disruption of supply chains, and job losses.
- Major business sectors like automobile, real estate, healthcare, and services were negatively impacted through shutdowns, reduced demand, cash crunch, and delayed payments.
- The education sector faced challenges like transition to online learning, lack of resources for some students, and pressure on teachers.
- Socially, lockdowns increased domestic violence, revived social discrimination, negatively impacted mental health and living standards,
Impact of covid 19 on Indian Economy & Banking SectorDr Praveen S
Impact of Covid-19 on indian Economy & Banking Sector
Topics covered:
- What is Covid-19 ((Corona Virus Disease) ?
- Socio - Economic Effects of Covid-19 on global society.
- How Covid-19 hit India?
- Impact of COVID-19 on Indian Economy.
- Impact of COVID-19 on Indian Banking Sector.
- Steps to be taken by Indian Banks.
The COVID-19 pandemic has greatly disrupted India's economy. India's GDP declined by 24% in the second quarter of 2020-2021, the largest contraction ever. Unemployment rose sharply as various sectors like tourism, hospitality, and aviation were hit hard by lockdowns and reduced consumer demand. However, sectors like pharmaceuticals and telecom experienced continued or increased activity. The government announced various economic relief measures totaling over $24 billion to help tackle the economic effects of the pandemic.
- The document discusses the impact of COVID-19 on the Indian economy and various sectors. It notes that sectors like tourism, hospitality, aviation have been hit the hardest and consumption is declining due to job losses and falling incomes. The financial markets have also become volatile.
- On the supply side, factory shutdowns and delays in supplies from China are impacting manufacturing. Exports are also declining. Agriculture and poultry, aviation, tourism, education, and entertainment have all faced major disruptions and losses.
- Suggestions provided include financial aid and support for impacted sectors, promoting digital payments, and according essential service status to fintech companies to support the financial system.
The document discusses the economic impact of the COVID-19 pandemic. It led to stock market declines, rising unemployment affecting tens of millions of people worldwide, and the risk of a global recession in 2020 according to the IMF. Various sectors were impacted, including automotive, energy, food and agriculture, and retail. Government responses included stimulus packages, tax relief, loan guarantees, and wage subsidies to support economies.
Impact of Covid-19 on Sectors of Indian Economy and Business Survival StrategiesDr. Amarjeet Singh
The entire world is in the clutch of Coronavirus. The dissemination of the virus is so colossal that it compelled the World Health Organisation (WHO) to declare it as pandemic. The outbreak of the virus has unprecedented implications on the global economy. Severe economic burden and grave consequences have to be borne by the Indian industries in this backdrop of declining economic situation due to coronavirus. Thus, this article is intended to study the repercussions of coronavirus on different sectors of Indian economy and to highlight the reasons for which India can be benefitted in the post pandemic period and mainly to specify the business survival strategies which is the key to overcome this tough situation.
The COVID-19 pandemic has severely impacted the Indian economy through widespread lockdowns. It has decreased workforce participation across all sectors, leading to job losses. While agriculture has remained relatively stable, other primary sectors like petroleum have seen major declines in consumption. Manufacturing has been heavily disrupted with many factories shut down. Tertiary sectors like education, finance, and hospitality have also been negatively impacted. The government faces challenges in balancing health risks with economic dangers and supporting vulnerable populations and supply chains during the crisis.
Future of the Workforce in Sri Lanka - What lies ahead post COVID-19.pdfLehinduAtapattu
This is an article written in May,2020 about the impact of Covid 19 and what lies ahead post Covid 19 for the workforce in Sri Lanka. This article was a position paper written for the "Pen it down" position paper writing competition organised by Unilever, Sri Lanka.
The document summarizes the impacts of the COVID-19 pandemic on progress toward achieving the UN Sustainable Development Goals (SDGs). It notes that COVID-19 could push over 1 billion people into extreme poverty by 2030 (SDG 1). The pandemic has also disrupted food systems, increasing hunger and food insecurity (SDG 2). Interrupted healthcare and access to services may lead to hundreds of thousands of additional child and maternal deaths in 2020 (SDG 3). School closures mean 370 million children missing meals and risks to education gains like increased child labor (SDG 4). The crisis is also increasing economic insecurity, violence against women, and care burdens for women (SDG 5). Half
The COVID-19 pandemic has given the biggest blow to the world economy after the great depression
1930s.Around 60% of the world population is either under severe or partial lockdown without having medical
solution to the coronavirus and affected the industrial sector severely.The impact is severe on
trade,manufacturing and MSMEs.Manufacturing sector may shrink from 5.5%to 20%,exports from 13.7% to
20.8%,imports from 17.3% to25%and MSMEs net value added (NVA) from 2.1%to5.7% in 2020
The COVID-19 pandemic is expected to have a severe impact on the Philippine economy, employment, and poverty reduction gains. Economic growth is projected to contract by 1% in 2020 due to losses in tourism, trade, consumption and investment. Unemployment in Luzon could rise to 22% in the second quarter of 2020, remaining elevated. Without fiscal support, the national poverty rate may increase from 16.6% in 2018 to 20.7% in 2020, reversing poverty reduction progress. The government's emergency subsidy program could help mitigate these effects by supporting over 18 million low-income households.
The document discusses India relaxing its population control policies. It provides background on China's one-child policy and the reasons for its implementation and discontinuation. It then discusses India now allowing couples to have up to three children and the challenges in averting unwanted demographic shifts through policies alone.
The document discusses the impact of COVID-19 on street vendors in India. It saw both negative and positive impacts. Negatively, vendors faced losses of livelihood, increased business risks, and falling demand for goods. Positively, hygiene practices improved and the importance of the informal sector was recognized. Surveys found vendors cutting education or relying on essential goods. The pandemic transformed markets and increased security concerns. Both economic and non-economic impacts were widespread due to job losses across the informal sector.
The document discusses the impact of COVID-19 on education, employment, and economic growth in India. It notes that school and university closures due to the pandemic have disrupted learning and will have long-term economic and social consequences. Unemployment rates rose sharply from 8.4% in mid-March to 23% in early April and 30.9% in urban areas, with many recent graduates facing withdrawn job offers. The pandemic has also accelerated India's economic slowdown and is expected to cause a global recession of uncertain depth and duration depending on measures to control the spread of the virus.
Detailed write up on the impact of COVID on various aspects of life. This was published in the Mumbai university Research Journal in the month of June 2020.
Self Reliant India Need, Pre and Post Pandemic scenarioJyotsna Prasad
This is a research paper about How India was before the covid 19 pandemic and how it would be after this ends. Where India Should be utilising its finances and how it should be managed to achieve the best.
- The document provides information on COVID-19 vaccines currently in clinical trials, with the earliest completion date being September 2021. After phase II trials establish safety, some vaccines may receive emergency approval for frontline workers.
- It also includes summaries of GDP growth forecasts from the World Bank, showing a projected global economic contraction of 5.2% in 2020 before a modest recovery in 2021. Advanced economies are expected to contract more severely and take longer to recover pre-pandemic levels.
- The Thai economy is forecast to contract 10% in 2020, with exports, tourism, and consumption only beginning to recover once the pandemic ends, not reaching pre-COVID levels until 2023. Various industries are negatively and positively impacted.
Indian Economy: The Challenge Ahead Since India gainedalianwarrr55
Following India's economic victories, the country is confronted with a wide range of chances and challenges that represent Sarvesh Kaushal's vision fulfilled. The spirit of Kaushal's vision blends with the economic history of the country as the Indian economy continues its voyage of change, offering a powerful story of expansion, resiliency, and adaptability.
The Covid-19 pandemic significantly impacted the Indian economy beginning in March 2020. A nationwide lockdown caused sharp rises in unemployment, decreases in government income, and collapses of the tourism, hospitality, and real estate industries. However, the pharmaceutical industry experienced increased sales of Covid-19 drugs. Unemployment rates doubled during the first year of the pandemic and fluctuated with subsequent lockdowns, while government revenues fell short of budgets as GDP growth declined to 3.1% in the last quarter of fiscal year 2020.
This presentation contains the positive and negative impacts regarding corona. I made it from various resources and wanted it share it publicly, so that others can also use it.
Commencis Covid-19 Playbook for Financial Services Aslı Yerci Eren
Download link for full report: https://lnkd.in/gp6xqYg
The novel coronavirus, COVID-19 has turned into a global crisis, evolving at an unprecedented speed and scale. As governments take immediate actions to cope with the outbreak, businesses are rapidly adapting to the changing needs of people, consumers and suppliers while also trying to overcome the financial and operational challenges.
As the pandemic continues, more and more industries are feeling the strain. The financial industry is certainly one of them. Whilst, the current situation is challenging for the industry, we believe that if well-handled it can also bring opportunities for innovation and long-term customer loyalty. The crisis has already revealed us that, now, more than ever, the industry must invest in digital and key critical capabilities to thrive in a post-COVID-19 world.
COVID-19 Playbook for Financial Services includes the implications of COVID-19 on financial industry, and recommendations on how banks can enhance their capabilities to survive during these rough times.
Main topics covered in this playbook are as below:
1 The impact of COVID-19 - Global Overview
2 How Banks Should Face the Crisis: COVID-19 Playbook
3 How to Invest in Digital Capabilities: Digital Roadmap
Covid-19 Following Up On The Immediate Economic Responseaakash malhotra
With india going under a complete lockdown for over a month now, industries and government needs to brace themselves in order to fight against the consequences of covid-19. Right from protecting jobs to supporting different sectors to minimise the impact, there are a lot of preparatory measures that are already under process.
- The document discusses the impact of COVID-19 on the Indian economy and various sectors. It notes that sectors like tourism, hospitality, aviation have been hit the hardest and consumption is declining due to job losses and falling incomes. The financial markets have also become volatile.
- On the supply side, factory shutdowns and delays in supplies from China are impacting manufacturing. Exports are also declining. Agriculture and poultry, aviation, tourism, education, and entertainment have all faced major disruptions and losses.
- Suggestions provided include financial aid and support for impacted sectors, promoting digital payments, and according essential service status to fintech companies to support the financial system.
The document discusses the economic impact of the COVID-19 pandemic. It led to stock market declines, rising unemployment affecting tens of millions of people worldwide, and the risk of a global recession in 2020 according to the IMF. Various sectors were impacted, including automotive, energy, food and agriculture, and retail. Government responses included stimulus packages, tax relief, loan guarantees, and wage subsidies to support economies.
Impact of Covid-19 on Sectors of Indian Economy and Business Survival StrategiesDr. Amarjeet Singh
The entire world is in the clutch of Coronavirus. The dissemination of the virus is so colossal that it compelled the World Health Organisation (WHO) to declare it as pandemic. The outbreak of the virus has unprecedented implications on the global economy. Severe economic burden and grave consequences have to be borne by the Indian industries in this backdrop of declining economic situation due to coronavirus. Thus, this article is intended to study the repercussions of coronavirus on different sectors of Indian economy and to highlight the reasons for which India can be benefitted in the post pandemic period and mainly to specify the business survival strategies which is the key to overcome this tough situation.
The COVID-19 pandemic has severely impacted the Indian economy through widespread lockdowns. It has decreased workforce participation across all sectors, leading to job losses. While agriculture has remained relatively stable, other primary sectors like petroleum have seen major declines in consumption. Manufacturing has been heavily disrupted with many factories shut down. Tertiary sectors like education, finance, and hospitality have also been negatively impacted. The government faces challenges in balancing health risks with economic dangers and supporting vulnerable populations and supply chains during the crisis.
Future of the Workforce in Sri Lanka - What lies ahead post COVID-19.pdfLehinduAtapattu
This is an article written in May,2020 about the impact of Covid 19 and what lies ahead post Covid 19 for the workforce in Sri Lanka. This article was a position paper written for the "Pen it down" position paper writing competition organised by Unilever, Sri Lanka.
The document summarizes the impacts of the COVID-19 pandemic on progress toward achieving the UN Sustainable Development Goals (SDGs). It notes that COVID-19 could push over 1 billion people into extreme poverty by 2030 (SDG 1). The pandemic has also disrupted food systems, increasing hunger and food insecurity (SDG 2). Interrupted healthcare and access to services may lead to hundreds of thousands of additional child and maternal deaths in 2020 (SDG 3). School closures mean 370 million children missing meals and risks to education gains like increased child labor (SDG 4). The crisis is also increasing economic insecurity, violence against women, and care burdens for women (SDG 5). Half
The COVID-19 pandemic has given the biggest blow to the world economy after the great depression
1930s.Around 60% of the world population is either under severe or partial lockdown without having medical
solution to the coronavirus and affected the industrial sector severely.The impact is severe on
trade,manufacturing and MSMEs.Manufacturing sector may shrink from 5.5%to 20%,exports from 13.7% to
20.8%,imports from 17.3% to25%and MSMEs net value added (NVA) from 2.1%to5.7% in 2020
The COVID-19 pandemic is expected to have a severe impact on the Philippine economy, employment, and poverty reduction gains. Economic growth is projected to contract by 1% in 2020 due to losses in tourism, trade, consumption and investment. Unemployment in Luzon could rise to 22% in the second quarter of 2020, remaining elevated. Without fiscal support, the national poverty rate may increase from 16.6% in 2018 to 20.7% in 2020, reversing poverty reduction progress. The government's emergency subsidy program could help mitigate these effects by supporting over 18 million low-income households.
The document discusses India relaxing its population control policies. It provides background on China's one-child policy and the reasons for its implementation and discontinuation. It then discusses India now allowing couples to have up to three children and the challenges in averting unwanted demographic shifts through policies alone.
The document discusses the impact of COVID-19 on street vendors in India. It saw both negative and positive impacts. Negatively, vendors faced losses of livelihood, increased business risks, and falling demand for goods. Positively, hygiene practices improved and the importance of the informal sector was recognized. Surveys found vendors cutting education or relying on essential goods. The pandemic transformed markets and increased security concerns. Both economic and non-economic impacts were widespread due to job losses across the informal sector.
The document discusses the impact of COVID-19 on education, employment, and economic growth in India. It notes that school and university closures due to the pandemic have disrupted learning and will have long-term economic and social consequences. Unemployment rates rose sharply from 8.4% in mid-March to 23% in early April and 30.9% in urban areas, with many recent graduates facing withdrawn job offers. The pandemic has also accelerated India's economic slowdown and is expected to cause a global recession of uncertain depth and duration depending on measures to control the spread of the virus.
Detailed write up on the impact of COVID on various aspects of life. This was published in the Mumbai university Research Journal in the month of June 2020.
Self Reliant India Need, Pre and Post Pandemic scenarioJyotsna Prasad
This is a research paper about How India was before the covid 19 pandemic and how it would be after this ends. Where India Should be utilising its finances and how it should be managed to achieve the best.
- The document provides information on COVID-19 vaccines currently in clinical trials, with the earliest completion date being September 2021. After phase II trials establish safety, some vaccines may receive emergency approval for frontline workers.
- It also includes summaries of GDP growth forecasts from the World Bank, showing a projected global economic contraction of 5.2% in 2020 before a modest recovery in 2021. Advanced economies are expected to contract more severely and take longer to recover pre-pandemic levels.
- The Thai economy is forecast to contract 10% in 2020, with exports, tourism, and consumption only beginning to recover once the pandemic ends, not reaching pre-COVID levels until 2023. Various industries are negatively and positively impacted.
Indian Economy: The Challenge Ahead Since India gainedalianwarrr55
Following India's economic victories, the country is confronted with a wide range of chances and challenges that represent Sarvesh Kaushal's vision fulfilled. The spirit of Kaushal's vision blends with the economic history of the country as the Indian economy continues its voyage of change, offering a powerful story of expansion, resiliency, and adaptability.
The Covid-19 pandemic significantly impacted the Indian economy beginning in March 2020. A nationwide lockdown caused sharp rises in unemployment, decreases in government income, and collapses of the tourism, hospitality, and real estate industries. However, the pharmaceutical industry experienced increased sales of Covid-19 drugs. Unemployment rates doubled during the first year of the pandemic and fluctuated with subsequent lockdowns, while government revenues fell short of budgets as GDP growth declined to 3.1% in the last quarter of fiscal year 2020.
This presentation contains the positive and negative impacts regarding corona. I made it from various resources and wanted it share it publicly, so that others can also use it.
Commencis Covid-19 Playbook for Financial Services Aslı Yerci Eren
Download link for full report: https://lnkd.in/gp6xqYg
The novel coronavirus, COVID-19 has turned into a global crisis, evolving at an unprecedented speed and scale. As governments take immediate actions to cope with the outbreak, businesses are rapidly adapting to the changing needs of people, consumers and suppliers while also trying to overcome the financial and operational challenges.
As the pandemic continues, more and more industries are feeling the strain. The financial industry is certainly one of them. Whilst, the current situation is challenging for the industry, we believe that if well-handled it can also bring opportunities for innovation and long-term customer loyalty. The crisis has already revealed us that, now, more than ever, the industry must invest in digital and key critical capabilities to thrive in a post-COVID-19 world.
COVID-19 Playbook for Financial Services includes the implications of COVID-19 on financial industry, and recommendations on how banks can enhance their capabilities to survive during these rough times.
Main topics covered in this playbook are as below:
1 The impact of COVID-19 - Global Overview
2 How Banks Should Face the Crisis: COVID-19 Playbook
3 How to Invest in Digital Capabilities: Digital Roadmap
Covid-19 Following Up On The Immediate Economic Responseaakash malhotra
With india going under a complete lockdown for over a month now, industries and government needs to brace themselves in order to fight against the consequences of covid-19. Right from protecting jobs to supporting different sectors to minimise the impact, there are a lot of preparatory measures that are already under process.
Did you know that drowning is a leading cause of unintentional death among young children? According to recent data, children aged 1-4 years are at the highest risk. Let's raise awareness and take steps to prevent these tragic incidents. Supervision, barriers around pools, and learning CPR can make a difference. Stay safe this summer!
06-18-2024-Princeton Meetup-Introduction to MilvusTimothy Spann
06-18-2024-Princeton Meetup-Introduction to Milvus
tim.spann@zilliz.com
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Get Milvused!
https://milvus.io/
Read my Newsletter every week!
https://github.com/tspannhw/FLiPStackWeekly/blob/main/142-17June2024.md
For more cool Unstructured Data, AI and Vector Database videos check out the Milvus vector database videos here
https://www.youtube.com/@MilvusVectorDatabase/videos
Unstructured Data Meetups -
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Expand LLMs' knowledge by incorporating external data sources into LLMs and your AI applications.
PyData London 2024: Mistakes were made (Dr. Rebecca Bilbro)Rebecca Bilbro
To honor ten years of PyData London, join Dr. Rebecca Bilbro as she takes us back in time to reflect on a little over ten years working as a data scientist. One of the many renegade PhDs who joined the fledgling field of data science of the 2010's, Rebecca will share lessons learned the hard way, often from watching data science projects go sideways and learning to fix broken things. Through the lens of these canon events, she'll identify some of the anti-patterns and red flags she's learned to steer around.
2. Overview
• The economic effect of COVID-19 in India have widely
been disruptive, it has impacted almost every sector of
the economy.
• India hit COVID-19 first time in the Fourth Quarter of
2020.
• “India's growth in the fourth quarter of the fiscal
year2020 went down to 3.1% according to the Ministry
of Statistics.”
• According to the World Bank, the current pandemic
has "magnified pre-existing risks to India's economic
outlook"
• In India, the life versus livelihood debate also played
out, with the government first announcing that life
would be prioritized over livelihood, which later
3. Some
Facts
• “GDP figures for Q1 (April to June) FY21, which
showed a contraction of 24% as compared to
the same period the year before.”
• “Unemployment rose from 6.7% on 15 March to
26% on 19 April and then back down to pre-
lockdown levels by mid-June.”
• “More than 45% of households across the
nation have reported an income drop as
compared to the previous year.”
• “tock markets in India posted their worst loses
in history on 23 March 2020”
• “Around 140,000,000 (14 crores) Indians lost
employment during the lockdown”
• “The Indian economy was expected to lose
over ₹32,000 crore (US$4.5 billion) every day
during the first 21 days of the lockdown,
according to Acuité Ratings.”
4. Analysing Impact on
Indian Economy
1. EffectonPrimarySector
a) Agriculture
2. EffectonSecondarySector
a) Manufacturing
3. EffectonTertiarySector
a. Tourism
b. E-commerce
c. Logistics
d. Services
e. ExportandImport
5.
6. What Primary Sector is?
• The primary sector includes all those activities
the end purpose of which consists in exploiting
natural resources: agriculture, fishing, forestry,
mining, deposits.
• The primary sector tends to make up a larger
portion of the economy in developing
countries than it does in developed countries.
• In India, it includes the sectors such as
agriculture, fishing, mining, and other
resources extraction jobs.
7. COVID-19 Impacts
On Primary Sector
1. Since agriculture is the backbone of the country and a part of the government
announced essential category, the impact is likely to be low on both primary
agricultural production and usage of agro-inputs
2. This sector provides employment to about 43.21% of the population in India
and contributes about 16.1% of the Indian GDP.
3. In agricultural sector, due to travel restrictions for lockdown, there has been a
dearth of agricultural workers which has resulted in drop in production.
4. Also, the pandemic lockdown period coincides with the harvesting season of
‘Rabi’ crop but owing to paucity of laborer the crops unabatedly stays in the
field. As the operations of the businesses like hotels, restaurants, sweet
shops and tea shops are suspended, the market of raw materials which are
used for these purpose has gone down leading to grievances of farmers.
5. The pandemic has curtailed the overall demand for metals and minerals
which has trimmed down their prices.
6. Significant fall in global oil prices due to the contraction of demand.
10. What Secondary
Sector is?
• This sector involves the manufacturing of the finished or
the semi- finished goods which are either further
processed or used by the final consumers.
• The industries in the secondary sector adds value to the
supply chain process by processing the raw material and
converting them into some useful form.
• This sector generally takes the output of the primary
sector (i.e., raw materials) and creates finished
goods suitable for use by other businesses, for export, or
for sale to domestic consumers.
• The secondary sector depends on the primary sector for
the raw materials necessary for production.
11. COVID-19
Impacts On
Secondary Sector
1. The federation of Indian Chamber of
Commerce and Industry (FICCI) in march
2020, reported that about 55% of the
business had responded impact to be “Very
high” to “High”. 73% reported reduction in
the orders, 35% reported rise in inventory ,
and 81% reported significant impact on cash
flow.
2. Total loss to the MMSE Sector was
estimated about US$ 10,667 million to US$
16,000 million in profits.
3. The economic shutdown led to the biggest
drop in the unemployment from 6% from the
beigging of the quarter to 26% in the end of
the quarter.
4. A sharp decline in the value of export was
witnessed, that was 48% due to the break in
the supply chain because various lockdown
measures.
14. What Tertiary
Sector is?
1. The tertiary sector covers a wide range of activities from
commerce to administration, transport, financial and real
estate activities, business and personal services,
education, health and social work.
I. It is made of:
II. the market services sector (trade, transports,
financial operations, business services, personal
services, accommodation and food service
activities, real estate, information-communication);
2. the non-market sector (public administration, education,
human health, social work activities).
3. The perimeter of the tertiary sector is therefore defined
by complementarity with agricultural and industrial
activities.
15. COVID-19 Impacts On Tertiary Sector
• IT is also having a share of impact as top Software Companies like Tata Consultancy
Services, Infosys and HCL impacted as technological spending reduced from US and
Europe amid lockdowns across the globe.
• HDFC Securities expect around 2-7% of reduction in IT revenue because of slow
decision making over the next 6 months as businesses will be evaluating the loss of
global economy due to COVID-19 pandemic
• There will be pricing pressure and reduced revenue, client bankruptcies due to lower
spending in the market as per ICICI Direct
• Over 1.5 million schools across India closed down due to the pandemic A switch to
large-scale digital education is not possible now.
•
Only 24 per cent house-holds have access to the internet, according to a 2019
government survey.
• IT Services will be hit hardest during COVID-19, and they listed all the 17 tech, media
and telecom related sectors to have a negative impact during COVID-19.
18. Impact On Various Social Groups
Low
Income
Middle
Income
High
Income
19. Impact On Low Income Families
• India witnessed one of the sharpest drops in
GDP (gross domestic product) growth rate
among emerging economies due to the
pandemic.
• The poor bore the brunt of the economic
contraction that India saw last year.
• It estimated that the number of poor people —
with income less than $2 (Rs 150) or less in a
day — in the country increased from 6 crores
to 13.4 crores. Therefore, the number of poor
people increased in India by almost 7.5 crores
last year
20. Impact On Low- And High-Income Families
• As the economy plunged into a recession in 2020, India’s vast
middle-class also shrank by 3.2 crores in numbers — to 6.6
crores from the pre-pandemic level of 9.9 crores.
• Prior to the pandemic, it was anticipated that 99 million
people in India would belong in the global middle class in
2020. A year into the pandemic, this number is estimated to
be have been 66 million, cut by a third.
• Meanwhile, the number of poor in India is projected to have
reached 134 million, more than double the 59 million
expected prior to the recession. The poverty rate in India
likely rose to 9.7% in 2020.
• Meanwhile, the upper-middle income population had nearly
quadrupled, from 60 million to 234 million.
21. COVID-19 And Healthcare Sector
• Healthcare sector has been at the center of the COVID-19 crisis. On one hand it has had
the responsibility of treating COVID-19 patients, while on the other, it has also faced
several challenges much like other sectors.
• During it all, the sector has had to continuously innovate and come out with new ways of
taking care of patients. Significant changes in consumer preferences and behavior
towards seeking healthcare services are being observed.
• It has now become clear that the COVID 19 pandemic is going to put significant stress on
our already limited healthcare resource. An initial study concerning the infectivity of
coronavirus has reported that an infected patient will infect the other two-person during
the early phase of the epidemic.
• Another important consideration will be developing infrastructure for reducing the burden
on already strained healthcare facilities due to asymptomatic or mildly cases that will be
nearly 80% of infected cases.
24. COVID-19 And Education Sector
• Around 32 crore learners stopped to move schools/colleges, all
educational activities halted in India. The outbreak of COVID-19 has
advised us that change is inevitable.
• Over 1.5 million schools across India closed down due to the
pandemic A switch to large-scale digital education is not possible now.
• Only 24 per cent house-holds have access to the internet, according
to a 2019 government survey.
• In rural India, the numbers are far lower, with only 4 per cent
households having access The education ministry’s budget for digital
e-learning was slashed to Rs 469 crore in 2020-21—the year Covid
struck—from Rs 604 crore the previous year.
• Even in the national capital, when government schools started online
classes during the lockdown, the attendance hovered between "25
and 30 per cent".
• A World Bank report, 'Beaten or Broken: Informality and Covid-19 in
South Asia', has quantified the impact of school closures in monetary
terms-India is estimated to lose $440 billion (Rs 32.3 lakh crore) in
possible future earnings.