Preprint Review Version 1 Preserved in Portico This version is not peer-reviewed

An Analysis of Economic Issues during First and Second Wave of COVID-19 Pandemic in India: A Literature Survey

Version 1 : Received: 18 September 2021 / Approved: 22 September 2021 / Online: 22 September 2021 (12:31:55 CEST)

How to cite: Gogoi, M.; Buragohain, P.P.; Gogoi, P.; Hazarika, A. An Analysis of Economic Issues during First and Second Wave of COVID-19 Pandemic in India: A Literature Survey. Preprints 2021, 2021090383 (doi: 10.20944/preprints202109.0383.v1). Gogoi, M.; Buragohain, P.P.; Gogoi, P.; Hazarika, A. An Analysis of Economic Issues during First and Second Wave of COVID-19 Pandemic in India: A Literature Survey. Preprints 2021, 2021090383 (doi: 10.20944/preprints202109.0383.v1).

Abstract

Background-The outbreak of COVID-19 pandemic has affected the global economy from its starting. Indian economy is also affected by the pandemic and experienced a lot of economic damages. India has become the global hotspot of COVID-19 during the second wave of the pandemic and recorded the second-highest position in terms of positivity rate after China. The present study attempts to analyze the economic issues that emerged in the first and second waves of the pandemic in India. Method/Approach-There is no econometric tools or analytical models used in the present study. This study attempts to evaluate the two research questions which are formed on the basis of some previous studies by various organizations and researchers. The research questions are as follow, First, what are the sectors those are primarily affected at the time of the first COVID-19 outbreak? Second, which economic issues and impacts emerged in the second wave of the pandemic? Results/ Findings-From the study, it is found that the second wave of COVID-19 is not much affected by the Indian economy. At this time, no nationwide lockdown was announced by the Government. But so, it was much severe in the time of the first wave of COVID-19. Many sectors were affected by the pandemic like agriculture, MSMEs, Tourism, etc., and these resulted in substantial unemployment problems in the economy. The study is trying to analyze these problems and concluding it with a few policy recommendations for the economy of India.

Keywords

COVID-19; Indian Economy; First wave; Second Wave; Economic Revive

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