Corona Virus Impact On Indian Economy

Coronavirus is a infectious disease which is causing illness to many people. It has the huge impact on economy of the India. The unemployment rate fell from 27.1%to 24% for the week ended May 10 while the labour participation rate rose from 36.2% to 37.6% as the government opens up industries in a staggered manner. Employment rate also rose from 26.4%to 28.6%.

Coronavirus inflicts huge job losses. It has also created the problem among the financial experts. The owner of the industries are also facing the huge loss so they terminated the employees working in their industries. The workers who use to work on the daily basis are dying of hunger and are unable to fulfill their basic requirements. There is a sudden increase in a death rate because of poverty and starvation. Over hundred million Indians could fall below poverty line. This is the first year of the century which increased the poverty so much and also the turning point in the lives of all the students, youngsters, businessman, workers, farmers etc.

Due to corona virus youngsters are facing heavy loss in their studies, career and development. So many companies faced the huge loss because of which the vacancies for the jobs will be reduced in this year. There are very less job opportunity for the youngsters to enhance their career. Youth is becoming more reliable on technology as all the study material is available online. 

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#Indianeconomy #GDP #IMF #WHO