Covid-19 impact on Indian Economy

 The Indian economy is at one of its most challenging times. The GDP declined by 7.3% in the quarter of April- June in 2021. The unemployment after the covid 19 pandemic has hit a record high number. Around millions lost their jobs due to the pandemic. New businesses are also suffering. It is not easy to meet all GST norms due to the lockdown. If you are doing a GST registration in Dwarka, then get ready to face some majors roadblocks. We would here try to understand the impact bit by bit-

 

Impact on the Hospitality industry. The worst-hit sector by the pandemic is the hospitality sector. The Indian hospitality industry is going through hard times. The pandemic scenario brought a nationwide lockdown. And hospitality sectors lost maximum business due to it. As of now, the recovery road is pretty long.

Impact on the Tourism sector. The tourism sector ceased existing due to lockdown. The industry incurred huge losses, and most people lost their jobs. Likewise hospitality sector, tourism sector needs to recover. And it is going to take a long time.

 Impact on real estate. When the nation is suffering from the pandemic and increasing unemployment, you cannot expect the real estate sector to flourish well. The real estate sector witnessed very slow growth. The investors are not willing to spend on any real estate property. In the left quarter of this fiscal year, the situation is anticipated to worsen.

 Impact on new business and services. Due to Covid-19, new businesses and services are facing a rough time to get started. With multiple norms in place and restrictions, business is not getting any better! For example, in company registration in Dwarka, you would face many issues due to the pandemic. Gst registration in Dwarka is becoming unbelievably complicated in the present moment.

 Conclusion

The Covid-19 epidemic has impacted negatively on India's economy. Here we have discussed the impact in detail.