CORONA - WHAT IS NEXT?

Abstract

COVID-19, first originated in November 2019 in the city of Wuhan, China. The virus spread from China to almost all the countries of the world. India is not an exception to this malady. The virus was carried to India by students studying in China and Indian workers from Italy who returned to India. Italy had become a centre of the corona virus after China. All of a sudden the central government was forced to declare a complete lockdown throughout the country on 25 March 2020. Movement of labourers and all the economic activities came to a standstill. In the initial phase government was committed to prevent the spread of the disease because even advanced countries like USA, France, England, Germany, Italy failed to stop the spread of the virus, leading to large scale human deaths. The Indian economy was rapidly moving towards development. But this pandemic has given a severe blow to all the economic activities in India. Within a month, unemployment rose from 6.7 per cent on 15 March, 26 per cent on 19 April to 7.24 per cent on 20 January 2021 During the lockdown, an estimated 14 crore people lost employment1. This paper discusses what is the next economic situation after COVID-19, that is positive and negative circumstances. This is a controversial subject. So, here I am going to analyze what are the situation we will face next and also find out what are the solution recommended by the government to overcome this current scenario with the help of secondary data collection.