Covid-19 Pandemic Management: Effects on Indian Economy—Reflections for Policy and Action Initiatives

Abstract

Pandemic is a type of epidemic that spreads over significant geographical areas and affects a large percent of population on a national or global level. Pandemic, as a project, has a lifecycle, a beginning and an end, though uncertain. The objective of the article is to trace various types of pandemics, to discuss their adverse effects of unemployment, distrust and loss of production. It presents various stimuli and remedial measures, a model to work out pandemic cost and its financial impact—estimated as ₹130 lakh crore in India. The article also gives an overview of positive results in the form of appreciations and acknowledgements, change in work culture resulting in work from home (WFH) approach. Financial restructuring resorted to by various business houses and future policy implications are also presented. The article is based on data drawn from government notifications and published reports. The study is exploratory, descriptive and analytical; it is presented in six parts.