Estimating the Impact of COVID-19 on Different Sectors of the Indian Economy (original) (raw)
Sustainable Strategies for Economic Growth and Decent Work: New Normal
The entire world economy has been shattered by the COVID-19 pandemic. Its adverse impact on different sectors of the economy has compelled the Governments and policymakers to rethink from scratch and come up with appropriate measures for all stakeholders. The disease has already triggered a worldwide recession. All businesses, irrespective of size, are facing grave challenges. The ILO (International Labour Organization) estimate reveals that a huge number of jobs will be severely impacted across the globe. According to the ILO, the COVID-19 pandemic is the most horrible disaster since the Second World War. The International Monetary Fund (IMF), on the other hand, treats the pandemic as the most terrible economic catastrophe since the Great Depression (1930). The crisis resulted in a demand-supply mismatch because of the dismantling of the nationwide transport system. On the one hand, farmers are unable to take their produce to the market, leading to a huge shortfall in supply and co...
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