The world is going through an economic slowdown currently and it is not surprising that India is also feeling those effects. Because of globalisation anything that happens in the world market affects all the economies
It’s very easy to say that the main reason behind it is the ongoing corona virus pandemic. Because of continuous lockdowns many businesses have been forced to shut or operate in a very low capacity.
We still don’t know the total economic loss that will be suffered but we must ask ourselves whether corona virus is the only reason or the slowdown or are there more factors??
The economy was already in a slowdown before March and the pandemic only made it worse. Fuel prices were already on an upward trend and our GDP before the lockdown was at a low point.
It’s time we stop blaming everything on corona and have a good look at ourselves- maybe there are some policies that need changing maybe there needs to be some action taken.
Slowdown of the economy cannot be prevented but some smart decisions can help us reduce its impact
Prof. Nupur Rawal, Assistant Professor, Unitedworld School of Business (UWSB)
Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.