siliconindia | | June 20218In FOCUST he Covid-19 pandemic has hit the large economies around the world. India will be one of the largest economies to suffer and recover from this pandemic as per the International Monetary Fund. It is anticipated that India's GDP for the ongoing financial year will shrink by 4.5%. India's growth potential had dropped from 6 percent to 5 percent.Looking at the current scenario, India will take some time to emerge from the Covid-19 recession. Almost all sectors in India have been impacted by the spread of this virus and the functioning of the economy has disrupted. Hundreds of people have to bear pay-cuts, and many have lost their jobs and are unemployed. Due to the lockdown, the labour sector and daily wage earners have been severely impacted as there is a lack of jobs in the industry.Even the laborers working in the construction industry are unable to find any employment because most of the site operations have been put on halt. Quarantine and travel ban have affected thousands of people across the nation to leave the factories short of labour and parts and impacted the flow of supply chain management across construction, technology, automotive, manufacturing, consumer goods, pharmaceutical and other industries.THE INDIAN ECONOMY AFTER 2 YEARS:Due to extreme conditions like loss of jobs, improper demand and supply THE TRAJECTORY OF GROWTH IN THE ECONOMY VS ECONOMY AFTER 2 YEARSBY SI TEAM
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