The economic impact of the COVID-19 pandemic in India has been largely disruptive India's growth in the fourth quarter of the fiscal year 2020 contracted to 3. 1%. In 2020, an estimated 10 million migrant workers returned to their native places after the imposition of the lockdown. India's $2. 9 trillion economy remains shuttered during the lockdown period. All the major sectors of the economy were badly hit except agriculture. The various sectors which have been affected are aviation, construction and real estate, small-scale manufacturing, and tourism. Up to 53% of businesses in the country were projected to be significantly affected. The government announced a variety of measures to tackle the situation like food security and extra funds for healthcare and the states sector-related incentives and tax deadline extensions. From growing only 4% in 2019-20 to contracting 7-8% in 2020-21 to staring at another low economic growth recovery in 2021, India has been virtually stopped in all its tracks. This was the worst performance of the Indian economy in any year since independence. As of now, India is back to pre-COVID 19 growth
The economic impact of the COVID-19 pandemic in India has been
largely
disruptive India's growth in the fourth quarter of the fiscal year 2020 contracted to 3. 1%. In 2020, an estimated 10 million migrant workers returned to their native places after the imposition of the lockdown. India's $2. 9 trillion economy remains shuttered during the lockdown period. All the major sectors of the economy were
badly
hit except agriculture. The various sectors which have been
affected
are aviation, construction and real estate,
small
-scale manufacturing, and tourism. Up to 53% of businesses in the country
were projected
to be
significantly
affected
. The
government
announced a variety of measures to tackle the situation like food security and extra funds for healthcare and the states sector-related incentives and tax deadline extensions. From growing
only
4% in 2019-20 to contracting 7-8% in 2020-21 to staring at another low economic growth recovery in 2021, India has been
virtually
stopped
in all its
tracks
. This was the worst performance of the Indian economy in any year since independence. As of
now
, India is back to
pre-COVID
19
growth