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COVID-19 and Its Impact on the Indian Economy

Author

Listed:
  • Vikas Barbate
  • Rajesh N. Gade
  • Shirish S. Raibagkar

Abstract

Pessimism looms large all over. COVID-19 has been projected as worse than the Great Depression of 1930. Everyday analyst and agency reports are diving into new bottoms of a fall-down in economic activities. Indian economy, however, has a slightly different story to tell at this hour of crisis. The silver lining for the Indian economy comes from a steep fall in the crude oil prices from around $70 per barrel to a record 18 years low of $22 per barrel. This windfall gain can, to some extent, offset the direct losses due to COVID-19. At the same time, dreams like a $5 trillion economy no longer look even a remote possibility. This article takes stock of the likely impact of COVID-19 on the Indian economy in the short term and the long term. A decision-tree approach has been adopted for doing the projections.

Suggested Citation

  • Vikas Barbate & Rajesh N. Gade & Shirish S. Raibagkar, 2021. "COVID-19 and Its Impact on the Indian Economy," Vision, , vol. 25(1), pages 23-35, March.
    • Handle: RePEc:sae:vision:v:25:y:2021:i:1:p:23-35
    DOI: 10.1177/0972262921989126
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    Cited by:

    1. Abbas, Jawad & Wang, Lisu & Ben Belgacem, Samira & Pawar, Puja Sunil & Najam, Hina & Abbas, Jaffar, 2023. "Investment in renewable energy and electricity output: Role of green finance, environmental tax, and geopolitical risk: Empirical evidence from China," Energy, Elsevier, vol. 269(C).
    2. Sadananda Prusty & Anubha & Saurabh Gupta, 2021. "On the Road to Recovery: The Role of Post-Lockdown Stimulus Package," FIIB Business Review, , vol. 11(2), pages 206-224, June.
    3. Naga Pillada & Sangeetha Rangasamy, 2023. "An empirical investigation of investor sentiment and volatility of realty sector market in India: an application of the DCC–GARCH model," SN Business & Economics, Springer, vol. 3(2), pages 1-16, February.
    4. Jyotirmayee Behera & Ajit Kumar Pasayat & Harekrushna Behera, 2022. "COVID-19 Vaccination Effect on Stock Market and Death Rate in India," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(4), pages 651-673, December.
    5. Neeraj Kumar & Mohit Tyagi & Anish Sachdeva & Yigit Kazancoglu & Mangey Ram, 2022. "Impact analysis of COVID-19 outbreak on cold supply chains of perishable products using a SWARA based MULTIMOORA approach," Operations Management Research, Springer, vol. 15(3), pages 1290-1314, December.

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