A Review on the Impact of COVID-19 on Distinctive Sectors of the Indian Economy

Abstract

The whole world is within the clutches of COVID-19. The dispersal of the infection is so colossal that it compelled the World Health Organization (WHO) to declare it widespread. The episode of the infection has unprecedented implications for the worldwide economy. Extreme economic burden and grave results need to be borne by Indian businesses against this background of declining economic situation due to COVID-19. Therefore, this article is aiming to review the several studies of the impact of COVID-19 on distinctive sectors of the Indian economy, such as the primary sector, secondary sector, tertiary sector, informal sector, and socio-economic factor. Considering this is a review article, to examine the impact, the methodology of the rigorous review approach has been carried out by selecting the appropriate published works among several collected articles based on the economic sectors. The result reveals that COVID-19 has an influence on all sectors, with the informal sector being the most severely affected. Therefore, this study will provide significant views of the impact on the economic sectors for the policymakers to make their policies to overcome this intense circumstance, and also with the help of this article, researchers may focus on incorporating global perspectives with the Indian economic policies in their research for better outcomes in the future.