COVID- 19 PANDEMIC: CHALLENGES AND OPPORTUNITIES IN THE EFFECTS OF INDIAN ECONOMY

Abstract

There is a new public health crises threatening the world with the emergence and spread of 2019 novel coronavirus (2019-nCoV) or the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The virus originated in bats and was transmitted to humans through yet unknown intermediary animals in Wuhan, Hubei province, China in December 2019. There have been around 5.11 Million cases reported of coronavirus disease 2019 (COVID-2019) and 3, 33, 000 reported deaths to date (22/05/2020). On 11^th Feb 2020 The World Health Organization (WHO) has declared the Covid-19 outbreak a global pandemic as the novel coronavirus continues to rapidly spread worldwide. All the countries are shutting down their businesses and keeping their country in lockdown due to the increasing rate in the number of corona virus cases.This virus has an adverse effect not only on India but on the whole world. There was a sharp rise in unemployment, stress on supply chain, and decrease in government income which makes the whole GDP to have negative effect. Various industries got collapsed due to the pandemic. All kind of commercial relations with different countries was also disturbed. There were a lot of challenges faced during the pandemic and a few opportunities that could be seen. It was observed that country like India could bring a economic revolution might have to great time crisis.