ECONOMY DURING COVID-19
The Coronavirus outburst has shattered world economies. Even developed countries like the US have been tainted by this disease. Due to the possibility of high levels of infection, many countries, including India opted to go into a state of lockdown, wherein all activities would be temporarily suspended and people would have to stay at their homes and adhere to the social distancing guidelines. As a result of this, most of the production activities also came to a halt, which led to a temporary break in the economic development of the country. Before the Coronavirus outburst, India`s GDP growth was around 4.8% and was expected to reach 6% for the Financial Year 2020-21. In the current scenario, the GDP has reduced to lower 1% and threatens to decrease further. I have used the word GDP a couple of times already. Let me give an insight into what exactly is GDP and why is it important. GDP refers to the Gross Domestic Product which is basically the sum total of all the products which have