Economic Declination Due To Lockdown
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 1, Pages 2484-2496
AbstractTo analyze and create awareness about the economic declination of a country due to lockdown. Due to sudden outbreaks of pandemic diseases a country might face economic declination. With fresh coronavirus cases on the rise in India the nation witnesses a second round effect of the virus spread and a complete halt to economic activity. Hence it is important to have an economically literate population to understand and evaluate the socio-economic crisis.Widespread lockdowns and social distancing in economies affected by the coronavirus outbreak are set to cause a massive negative short‐term impact on consumer spending and GDP. To minimise the effect in the economy caused by the COVID -19 outbreak, the Union Finance & Corporate Affairs Minister, on 24.03.2020, announced several important relief measures taken by the Government of India, especially on statutory and regulatory compliance matters related to several sectors. A well structured questionnaire containing socio-demographic information,knowledge,attitude,and perception was framed, and circulated through an online survey link. This was conducted through an online survey link, the results were analyzed using statistical analysis. The results were collected and represented in pie charts. From this survey , we can conclude that it is the responsibility of every citizen in a country to be literate about the economy, to evaluate the socio-economic crisis.
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