Abstract: The Spread of Novel CoronaVirus has drastically affected the Trade and Foreign Exchange of all the countries of the world due to the Shut-Down of International borders of all the countries of the world. This has also caused a Major Impact on the Economy of India. While considering the Gross Domestic Product of the nation we had faced a downfall due to the Pandemic Lockdown enforced over the nation for the welfare of the citizens of India to stay away from the spread of the covid virus. But, now it has become a major threat for the Economy of India due to the Reduced domestic trade of the nation from March 2020. The Fall in production of the country has caused stock demand for the surviving citizens of the nations, Hence the country’s Import is forced to be increased, Even for the FMCG Goods. More than 75% of the civilians have now lost their Per Capita Income Ratio, Due to the fall in the Trade Locally and Internationally. All together Fall in Per Capita Income, Reduced GDP, Reduced Local and International Trade has reduced the Total Tax Collected in the Last Accounting Year and made the Government of India under huge debt, I.e.At End-March 2021, India's external debt was placed at $570 billion, recording an increase of $11.5 billion over its level at end-March 2020, according to the Reserve Bank of India's (RBI) data. The external debt to GDP ratio rose to 21.1 percent as of March 2021 against 20.6 per cent a year ago. This may also increase in the future because the world has not attained the end for the Novel CoronaVirus.
Keywords: Aftermaths Of Coronavirus, Economy Of India, GDP Rate, Covid-19, March 2021.
Title: ANALYSIS OF AFTERMATHS OF NOVEL CORONAVIRUS ON THE ECONOMY OF INDIA
Author: Dr.Hemachandran Ravikumar, Mathunila Vissagan, Snehan Bose
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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