Vol: 11, Issue: 2 2021

Page: 130-164

Impact of Covid-19 on Indian Economy

Anika

Received Date: 2021-05-28

Accepted Date: 2021-06-11

Published Date: 2021-06-28

India which is considered a developing country is one of the fastest-growing major economies of the world. The Indian economy was one of the fastest-growing economy after global financial crisis. Integration of Indian economy with world economy is one of the probable reasons for fast growth rate of Indian economy. Looking at the state of Indian economy for last 10 years (FY 2010 – FY 2002), after global financial crisis of 2008, India showed remarkable recovery with services sector coming out to be a major driver of growth along with other sectors. Now, let us look at the trend in Indian economy since 2010 in detail and how it had evolved into one of the fastest growing economies of the world

References

• Annual Report RBI, 2010- 2019, https://www.rbi.org.in/Scripts/AnnualReportMainDisplay.aspx
• Monetary policy report, April 2020, RBI, https://m.rbi.org.in/Scripts/PublicationsView.aspx?id=19439
• Governor’s Statement - Seventh Bi-monthly Monetary Policy Statement,2019-20, March 27, 2020, June 2020-RBI, https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3847 https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=19457)
• Statement on Developmental and Regulatory Policies, RBI https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49582
• Governor’s Statement – May 22, 2020 https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3859
• Industrial Outlook Survey of the Manufacturing Sector for Q4:2019-20, RBI https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=19437
• Database of Indian economy, RBI, https://dbie.rbi.org.in/BOE/OpenDocument/1608101729/OpenDocument/opendoc/op enDocument.faces?logonSuccessful=true&shareId=1
• Ministry of statistics and programme implementation http://www.mospi.gov.in/data http://mospi.nic.in/ http://mospi.nic.in/iip http://mospi.nic.in/sites/default/files/iip/iipjan20.pdf http://mospi.nic.in/sites/default/files/iip/iip_feb20.pdf http://mospi.nic.in/sites/default/files/iip/IIP_PR_Mar_120502020.pdf http://mospi.nic.in/sites/default/files/press_release/PRESS%20NOTE%20PE%20and %20Q4%20estimates%20of%20GDP.pdf http://www.mospi.gov.in/sites/default/files/press_releases_statements/nad_Statement2 2_1dec14.xls http://www.mospi.gov.in/sites/default/files/press_releases_statements/Statement_13_ 3Mar2020.xls
• Ministry of commerce and Industry, Department of commerce, https://commerce.gov.in/writereaddata/UploadedFile/MOC_637251634305315092_Pr 163 ess%20Release%20April%202020.pdf https://commerce.gov.in/writereaddata/uploadedfile/MOC_637036322182074251_An nual%20Report%202018-19%20English.pdf https://commerce.gov.in/writereaddata/UploadedFile/MOC_636988184002556003_Pr ess_Release_June_2019.pdf
• Ministry of petroleum and Natural gas, http://petroleum.nic.in/more/indian-png-statistics http://petroleum.nic.in/documents/reports/annual-reports http://petroleum.nic.in/sites/default/files/ipngstat_0.pdf http://petroleum.nic.in/sites/default/files/AR_2018-19.pdf
• NSDL https://www.fpi.nsdl.co.in/web/Reports/Yearwise.aspx?RptType=5
• IMF https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/ WEOWORLD https://www.imf.org/en/publications/weo https://www.imf.org/en/About/FAQ/imf-response-tocovid-19#Q4
• Money Control https://www.moneycontrol.com/news/business/economy/abhijit-banerjee-on-rs-20- lakh-crorepackage-5319971.html https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weoapril- 2020#Introduction https://www.moneycontrol.com/news/business/personal-finance/coronavirus-impact- makingsense-of-the-global-market-crash-5062681.html https://www.moneycontrol.com/news/business/economy/rbis-targeted-long-term- repooperations-all-your-questions-answered-5139191.html
• World Economic Forum https://www.weforum.org/agenda/2020/03/stock-market-volatility-coronavirus/ https://www.weforum.org/agenda/2020/05/preventing-a-covid-19-food-crisis/
• EIA- U.S. Energy Information Administration https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rbrte&f=a
• Ministry of home and family welfare https://www.mohfw.gov.in/
• Data Hub https://datahub.io/core/oil-prices
• Causality between public expenditure and Economic growth, P. Srinivasan, (2013) https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2376143
• Recent Global Recession and Indian Economy, Rajiv Kumar Bhatt, (2011), http://www.ijtef.org/papers/105-D10003.pdf
• Does Stock Market Development Cause Economic Growth? A Time Series Analysis for Indian Economy, Soumya Guha Deb and Jaydeep Mukherjee, (2008) https://memberfiles.freewebs.com/99/21/62292199/documents/irjfe_21_12.pdf
• Financial Deepening, Foreign Direct Investment and Economic Growth: Are They Cointegrated, Rudra Prakash Pradhan, (2010) http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.1024.564&rep=rep1&type= pdf
• Other Sources https://en.wikipedia.org/wiki/Essential_Commodities_Act#:~:text=The%20Essential %20Commodities%20Act%20is,fuel%20(petroleum%20products)%20etc.
• https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID- 19_pandemic_in_India
• https://www.investopedia.com/terms/c/crude-oil.asp
• https://timesofindia.indiatimes.com/business/india-business/cabinet-decisions-forfarmers-msmes-poor-key-points/articleshow/76135314.cms
• https://www.livemint.com/news/india/15-ways-to-define-india-s-slowdown1565715613762.html
• https://www.thehindu.com/business/explained-why-are-oil-prices-in-negativeterrain/article31394425.ece