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Original research

COVID-19 impacts on indian economy and technology

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Abstract

The world witnessed the biggest pandemic in almost 100 years, the impact of which is felt in all walks of life. It will be early days to predict too many things. But it is essential to foresee the economic impact of COVID-19. In India, which was already in economic turmoil, it remains to be seen how this new blow will affect the economic cycle. The paper attempts to do this in various sectors like agriculture, tourism, and industrial sectors. Secondary data is reviewed for the study. The paper also discusses innovations in this reference, and it also discusses the steps that the country is taking to sustain this situation. It uses estimation techniques for predicting the economic impact in the various sectors.The paper identifies and analyses the various factors that led to the significant disturbance of farming systems and the agricultural sector as a whole following the lockout, using quantitative and qualitative sources of knowledge with an emphasis on the Indian state of Uttar Pradesh, including expert elicitation and a farmer survey. Our research found that a shortage of migrant labor in some regions and a surplus of jobs in others had a significant impact on the April crop, resulting in a decrease in agricultural wages in some communities and an increase in others, as well as significant production losses.

Imprint

Shweta Lende, Samaya Pillai. COVID-19 IMPACTS ON INDIAN ECONOMY AND TECHNOLOGY. Cardiometry; Issue 25; December 2022; p.697-702; DOI: 10.18137/cardiometry.2022.25.697702; Available from: https://www.cardiometry.net/issues/no25-december-2022/covid-19-impacts-indian

Keywords

Economic Turmoil,  Quantitative Knowledge,  Agricultural Sector,  Farmer Survey,  Agricultural Wages
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