What is the impact of Coronavirus on Indian Economy?
To combat with COVID-19, Indian Government declared nation-wide lockdown on 25th March 2020 and extended the date of lockdown to 3rd May, 2020.
The Covid-19 outbreak came at a time when India's economy was already slowing, due to persistent financial sector weaknesses, the report said.
> To combat with COVID-19, Indian Government declared nation-wide lockdown on 25th March 2020 and extended the date of lockdown to 3rd May 2020.
Recently an industry survey that is jointly conducted by industry body `FICCI` and tax consultancy Dhruva advisors and took responses from about 380 companies across the sectors. It is said that businesses are grappling with `tremendous uncertainty` about their future.
According to the survey, COVID-19 is having a 'deep impact' on Indian businesses, over the coming month's jobs are at high risk because firms are looking for some reduction in manpower. Further, it is added that already COVID-19 crisis has caused an unprecedented collapse in economic activities over the last few weeks.
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I urge everyone to follow the Health Advisory guidelines stringently to combat and limit the spread of this pandemic and safeguard everything we hold.