Abstract:
The COVID-19 pandemic has affected different sectors of the economy in an
unprecedented way, and this article is an attempt to analyze the economic effect of
the outbreak in India. However, before we assess the economic cost associated with
the pandemic, we economists fully consider the outbreak as a human tragedy. There
has not been any econometric technique that can account the countless human sufferings that the crisis has brought. Through this article, we address several important
research questions and demonstrate India's strength to stay immune to combat
COVID-19 pandemic. The research questions are as follows. First, what will be the
effect of COVID-19 on the Indian economy and how does it affect the different sectors of the economy? Second, how does the pandemic affect the bilateral trade relation between India and China? Third, we question the role of the public health
system in dealing with the outbreak of the virus in India. This article also presents the
growth projection of the Indian economy by different economic agents. We finally
conclude the article by mentioning a few policy recommendations for the Indian
economy.
