Review on Repercussions of Covid-19 Pandemic on Construction Sector

Abstract

The Covid-19 pandemic has disrupted almost everything related to economic and livelihood activities. This review paper however aims at showing and assessing the negative impacts of Covid-19 over construction sector in India particularly. The construction sector in India being second highest employee intensive sector after agriculture. It had come to an abrupt halt in first quarter of FY2020-21 and this resulted in stopping of supply chain management, major infrastructural projects of government and private entities, different cement, steel and other construction material manufacturing units. Further it resulted in sudden unemployment over millions of Indian employees and workers, in both organized and unorganized sectors related to construction businesses. The lockdown gave rise to many unfair practices in the business of supply chain, one of which is the stockpiling of cement and steel in the initial period of strict lockdown, hence the prices soared up in short time. That’s why estimates of major projects also rose up. On the other hand, the rates of real estates have gone down invariably due to cash crunch in the economy. All these effects and causes are dealt with in this research paper using authentic data in the public domain