“Impact of Covid-19 on Roadmap of India's $ 5 Trillion Economy and Forthcoming Challenges”

Abstract

The COVID-19 outbreak has made the past two years very challenging for the global economy. It has been very challenging time for policy making due to the repeated waves of infections, supply chain disruption and more recently inflation. To deal with these challenges, instant reaction of Indian Government has been a package of protection to lesser the effect on as secure segments of society and the commercial sector. To reconstruct demand over the medium term and aggressive measures implemented on the supply side and prepare the economy for sustained long-term growth, this led to a considerable increase in capital spending on infrastructure. The main focus of this study is on the drivers of the economic growth followed by investment, exports and imports, consumption, productivity growth, demand and job creation. This study will examine the economic downturn during a pandemic and analyze the strategies needed to transform India into a $5 trillion economy in an uncertain and imbalance environment.