Covid – 19 (First and Second Waves) Impact on Multiple Sectors in India

Name of Author : K Subramanyam Naidu

Abstract: Ever since the first case of COVID-19 was reported to today when almost every country in the world is affected, it is just almost 6 months from the 1st case officially reported. Originally reported first in Wuhan, China, the COVID-19 virus traveled throughout the world and infected millions. COVID-19 is unstoppable unless a vaccine is developed. As well as being a human tragedy, the COVID-19 pandemic has been an unprecedented economic shock for the world economy. Global output is estimated by the IMF to have fallen by 3.5 per cent in 2020, and all countries – big and small, rich and poor – have been hit. The economic impact of the COVID-19 pandemic in India has been largely disruptive. Indias growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. In India, after the first wave, we thought that we had gained control of the situation but the second wave found us wanting for basic necessities such as oxygen and medical supplies. It might appear that the second wave is on its way out with daily nearly 4 lakh cases, and have lost over 3.8 lakh precious lives to COVID-19 already. In this study, the focus is on assessing the damages caused by COVID-19 in the affected sectors, such as Hospitality, Tourism, Aviation & Travel Sector, Automobile Sector, Real Estate and Construction, E-commerce and Education.

Keywords : COVID-19, First wave, Second wave, Hospitality, Tourism, Aviation, E-Commerce, Education, Automobile sector, Real Estate and construction

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