Table of ContentsIntroductionConclusionReferencesIntroductionCOVID-19, known as Corona virus disease, was first identified in Wuhan, one of the major transportation hubs of China, in December 2019. From there, it spread worldwide and was declared a pandemic by the World Health Organization (WHO) in March 2019. The effects of this deadly virus are much worse and have been felt and noticed in the most developed countries of the world such as the United States, Europe and many others. The pattern of economic activity is one of the most crucial and worrying factors among the most striking consequences of this pandemic. WHO, working with global experts in different countries, governments and other health organizations, has advised countries to take all precautionary and preventive measures to ensure safety. The effects of this pandemic are even worse in India. India suffered from the financial crisis of 2008-2009, and in 2020 the impact of COVID-19 appears much worse. The country will appear to face multiple challenges in various sectors such as health, economy, finance etc. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get the original essay Today, in India, we are focused on protecting the population from the drastic risk consequences of this disease for health and providing relief to the poor but we must also focus on the security of the Indian economy. In this article, we gather some facts to try to understand what has changed and affected the Indian economy. The Indian economy is a developing market economy. Its economy is the 5th largest economy in the world in terms of the country's nominal gross domestic product (GDP) and the 3rd largest in terms of purchasing power parity (PPP). In 2018, according to the International Monetary Fund (IMF), India is ranked 139th in terms of nominal GDP. From 2014 to 2018, India was the fastest growing major economy in the world. However, the economy slowed down in 2017 due to the Goods and Services Tax (GST) and demonetization in 2016. In 2018, India became the world's 10th largest importer and 19th exporter. India has been a member of the World Trade Organization since January 1, 1995. India ranks 63rd in the Ease of Doing Business Index and. 68th according to the Global Competitiveness Report. India's workforce is the second largest in the world in 2019. India's GDP, at purchasing power parity, has a capacity that could even surpass that of the United States by 2050. However, at Over the past few quarters, the economy India's economy has experienced a slowdown. The economy grew 4.7% in the current fiscal year, its lowest level in six years. Investment and consumption demand has declined and several incentive and encouraging measures have been taken to put the economy on the path of growth. Again. There was plausible hope of recovery in the final quarter of the financial year. But the coronavirus outbreak is making the recovery process difficult right now. The coronavirus outbreak has created new challenges and difficulties for the Indian economy, creating serious disruptive effects on the demand and supply elements, which could potentially derail India's growth. Due to the sudden lockdown, economic activities have declined, which is unexpected in the history of India. The economic impact for the year 2019-2020 of coronavirus in India has been mainly disruptive. Credit rating agencies have downgraded India's growth rating in 2021. TheCovid-19 will change the way the world thinks and works. There's one question on everyone's lips: "Will things ever get back to normal?" repeat of the economic collapse and financial crisis that took place in 2008 and how we recovered from this pandemic crisis that we are facing today in 2020 because of COVID-19. According to the survey conducted by various agencies, COVID-19 is having a "profound impact" on the Indian economy. Jobs are at high risk in the coming months as industries look to downsize. According to the survey conducted by FICCI, the COVID-19 crisis has already caused unprecedented destruction of economic activities in recent months. The impacts of COVID-19 on important sectors of the Indian economy are as follows. The entire chain Demand and production cycle are disrupted due to huge uncertainty and falling market. Sectors such as tourism and travel, aviation are one of the many affected sectors that are facing the most severe crisis. Cinema halls are closed and a very reduced number of consumers are visiting commercial markets, which has impacted the retail sector. This has led to a decline in consumption of essential and optional items. Customer purchasing decisions are being changed due to fear and panic spreading among people. This reduced overall confidence in purchasing and therefore reduced demand. Restrictions on travel have had serious impacts on the transport sectors. As people cancel and postpone their personal and business/conference trips, the hotel economy has also witnessed a significant shock. The travel and transportation sector recorded a loss of around $4.5 billion per day of lockdown. The manufacturing industry is an important part of the economy. The lockdown has profoundly affected the supply chain of essential and non-essential products. On the supply side, factories are closed, which has led to delays in the supply of goods/items from China. This has affected India's manufacturing sectors. It also hurts business confidence and affects companies' production schedules. It has chased away imports of critical raw materials and in this way other countries like Asia, Europe and the United States, where manufacturing is slow due to the lockdown, have also impacted the Indian exports. The Corona virus crisis is hitting the country's farmers and food supplies. . April is a month of celebration and hard work as this is the time when farmers sell their wheat in the market but due to Covid attack and lockdown, the conditions of farmers are put in a miserable state. Although virus cases are mainly concentrated in big cities, this has triggered a collapse in demand for food in villages. Agriculture only represents 15% of GDP but the lockdown has brought down all demand and it is a real tragedy for Indian farmers. The Covid-19 crisis has made the financial market extremely volatile due to the high risk of uncertainty about the future. leading to major crashes in the financial markets. The BSE Sensex and NSE Nifty crashed by over 8% in a single day in March, the BSE Sensex fell by 2,919 points – its biggest 1-day fall ever, while the NSE Nifty fell by 868 points. 10 lakh crore of market capitalization was reported which was wiped out due to this single day fall. China is an important market for many products