This outbreak of pandemic effected human lives as well as it has affected Indian and Global economic sectors. The impact of pandemic on the Indian economy is significant across sectors of complete extended & partial lockdown as well as at various degrees of capacity utilization. This study also includes the government strategies, efforts policies for improvement of economic growth and recovery recommendations for economic sectors in India. The purpose of the study is to examine impact of covid-19 on the Indian economy using existing data source from various business reports, RBI reports, CMIE reports, World Bank of economy, MoHFW and Indian ministry of finance on growth sectoral & international trade manufacturing, small & medium enterprises and to identify essential steps to mitigate the economy’s potential consequences. As the study results shows Indian Economic status in which GDP ratio fell to its lowest value in last 14 years, where the indirect tax to GDP ratio was at 5 years low in FY20. After a major loss of lives and economic status. Due to this COVID-19 crisis prime minister of India has announced package of 20 lakh crore. After the announcement by the government, decision take by RBI, is to tone package of 20 lakh crore which is almost equivalent to 10% of Indian GDP. At last after unlock 1.0 strategy of Indian government the recovery is on its way and India is becoming ‘Self-Reliant’ and Indian economy is growing slowly. The Indian economy shrank 23.9% year-on-year in the second quarter of 2020, much worse than market forecasts of an 18.3% drop. It is the biggest contraction on record, as India imposed a coronavirus lockdown in late March and extended it several times, halting most economic activities, and effecting continuously to the economy.
Dehriya et al. (Fri,) studied this question.