AN ANALYTICAL STUDY OF IMPACT OF COVID-19 ON INFORMATION TECHNOLOGY SECTOR AND SOME OTHER IMPORTANT SECTORS OF INDIAN ECONOMY
Author(s): Dr. Vikas Kumar, Priya GuptaAbstract
COVID-19 is a disease and doctors call it a respiratory tract infection. It can influence your upper respiratory tract (sinuses nose and throat) or lower respiratory tract (windpipe and lungs) and caused by a corona virus named SARS-COV-2 (severe acute respiratory syndrome corona virus 2). In early 2020 after December 2019 outbreak in China WHO (World health organization) recognized SARS-CoV-2 as a new type of corona virus the virus which is known as COVID-19 and was similar to SARS was being identified primarily by fever cough and respiratory symptoms. The virus was also highly contagious and infectious. By early 2020 it had covered various regions of China and extended to the US and Europe having been carried by travelers from affected regions. In March 2020 the World Health Organization declared the outbreak a pandemic and travel to from and within many countries. One of them is India which was seriously affected and was doing effort to control its spread. Around the world many schools and many businesses closed and stay-at-home guidelines were implemented. According to a survey COVID-19 is having a deep-rooted impact on Indian economy. Over the coming months and years jobs will be having at huge risk firms have decided to reduce their manpower and trying to save their firms from shut down. Further it is added that COVID-19 crisis has already caused an unusual collapse in economic activities in the last few months. The current situation is having a high to very high level impact on businesses and India economy.