Affiliation:
1. Chitkara University, India
2. Dr. V. N. Bedekar Institute of Management Studies, India
Abstract
The COVID-19 pandemic has had severe consequences for economies across the globe, leading the governments to resort to extreme strategies such as implementing lockdowns to contain the reach of a virus, to implementing recovery plans in order to ensure business continuity and allow the smooth running of the business. This chapter highlights the economic impact of the COVID-19 pandemic globally and in India. It also outlines the various government measures taken at national and international levels for reopening of the economy, primarily focusing on policies in the services sector (including healthcare, education, travel, and tourism), in the manufacturing sector (MSME, infrastructure, power, utilities, and energy), and related to fiscal measures (overall, employment and monetary, and macro). The chapter concludes by summarizing the implications for India to combat adversities created by COVID-19, primarily by bringing improvements in the goods and services sector.
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