The covid 19 pandemic has emerged disastrous for the Indian Economy.  The outbreak of the coronavirus has a highly alarming impact on the economic activity of India. Along with an unprecedented human toll, COVID-19 has triggered a deep economic crisis. The global economic impact could be broader than any that we have seen since the Great Depression.

According to the Ministry of Statistics India's growth in the fourth quarter of the FY 2020 went down to 3.1%. The estimated figures for India's growth for the FY 2021, revised by the World Bank and other agencies are the lowest since the last three decades. India's GDP estimates lowered to negative figures warning us all of a deep recession in the country. 

Unemployment rose to 26% on 19 April from 6.7% on 15 March.  During the lockdown period 14 crore (140 million)  people lost their jobs. Upto 53% of businesses in the country were projected to be significantly affected. Farmers are also facing uncertainty for their perishables.

Now thats an alarming situation for the country! India is already suffering from poverty and hunger now imagine the wrath that this pandemic could bring upon the indian economy. 

India's fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here.