Lockdown had a different impact on different sectors. The government initiative for the lockdown was for our safety and security from the Novel Coronavirus COVID-19. But, its impact on the economy was not positive. For more information regarding its impact on the Indian economy, you can read the paragraphs mentioned below.
Short and Long Paragraphs on Effects of Lockdown on Indian Economy
Paragraph 1 – 100 Words
A global pandemic has affected our society in many ways. Economic, environmental, and other social effects can be easily seen these days. The Indian government declared 21 days lockdown for the first time which continued for many months.
During lockdown everything was closed as a result there was a full stop on everything either it was Indian Railways or any manufacturing unit. It was for the first time in the history of Indian we faced such a big lockdown. The Railways use to earn 9.6 Crore every day and it was completely closed for more than 90 days. Similarly, there is data from different industries. All these have directly affected our GDP which caused a sharp decrease in our economy.
Paragraph 2 – 120 Words
Lockdown was a preventive measure against COVID-19 but the complete lockdown was a newly created havoc for all industries. Many large scales, as well as small-scale industries like travel and tourism, daily wages workers, different enterprises, etc, are badly affected which resulted in a sharp decrease in GDP.
India is a developing nation and the sudden implementation of lockdown shackled the development. Daily wages workers were so helpless that if they would step out of their home, they would die due to the epidermic and if they stayed within their home, they would also die due to lack of food and another requirement. Although the government has tried its best to provide food for these workers; but it was not available everywhere. All these things have badly affected our economy and lockdown was marked unsuccessful.
Paragraph 3 – 150 Words
The year 2020 came with a new crisis named as COVID-19. It was a deadly virus that affected both lives and material damage. Actually, material damage was the result of the majors taken during this crisis. WHO also claimed this virus as an epidemic. It has badly affected the world. America the superpower was found helpless in this epidemic. Similarly, the entire world is also facing economic crises. The Indian economy has also fallen on its knee. The sharp decrease in GDP is continuously alarming towards the falling economy.
Not only small-scale industries but all kinds of industries are facing loss. Many of us also lost their jobs in this crisis. No one ever expected anything like this so we were not even ready. If things would be planned before I don’t think the loss would be of so huge. It was implemented within a night as a result no one got time to think. I believe if this lockdown would be planned properly then the rate of crises would be not as big as they are today.
At present the Indian GDP is 3.1 % and it was 5.85% in the year 2019. And it is also marked as one of the lowest in the last 11 years. Although the lockdown has been removed it will take years to cover this loss.
Paragraph 4 – 200 Words
Indian GDP has crossed one of its lowest levels in the past three decades. Somehow COVID-19 has badly affected all of us and the implementation of lockdown triggered this downfall. So, it will be not wrong if I say that the effect of lockdown was negative on the Indian economy.
Due to lockdown connectivity was affected as a result people from the rural areas were unable to reach cities for selling their goods like vegetables, milk, and fruits. So, the was s sharp decrease in per capita income. As only these things were allowed to sell in this lockdown period. Per capita income is directly proportional to GDP as a result we faced a huge loss in this period.
Restaurants, hotel industry, malls, movie theatres, shopping centres, educational institutions, etc. were closed for so many months. Many private as well as government organizations were also closed.
Companies were facing huge losses as a result many people lost their jobs. Not even small-scale industries, but many high profitable organizations also faced a huge loss. A disturbed demand and supply chain of an economy can cause adverse effects on the Indian economy and lockdown was a live example of this kind of failure.
The Lockdown was for social safety and security but sadly was not favorable for the Indian economy. Every policy has some pros and cons, now the public is looking towards the government relief for coping up and recovering this unforecastable economic loss.
Paragraph 5 – 250 Words
Indian Economy is alarming a nationwide crisis due to the lockdown. Although there was a decrease in the community spread of COVID-19 during lockdown it was unplanned.
The demand-supply chain plays a very important role in developing an economy. The sudden pause on the urban activities causes a sudden fall in non-essential goods. Once the domestic supply chain is interrupted it directly affects the supply of essential commodities.
What are the Potential Impacts of Lockdown on Various Sectors?
Fabric & Textile Industries: Manufacturing, supply, and import was directly affected. The import of fabric from China and other countries was paused and now there is a sharp increase in their price. Due to this textile industries are facing a huge loss.
Auto Mobile Industries: The passenger vehicle, commercial vehicles, and all other automobile industries are facing loss due to the unavailability of auto components and non-essential goods.
Tourism & Aviation: This industry is facing higher than expected loss. The travel industry earing next to zero and this will continue for some more years. Although the situation will settle soon, still there is a fear among people and it will take some time for this industry to grow again.
Real Estates & Construction Sites Business: Due to lower demand and the barred construction services are facing higher losses. People do not have the money to match their day-to-day needs and in this scenario, very few people will focus on real estate.
Similarly, almost every sector is facing a kind of economic crisis. Only the initiative funding by government and state government will help people to cope with this huge loss. The Indian economy has been badly affected by this lockdown and this will result in inflation.
FAQs: Frequently Asked Questions
Ans. India’s GDP contracted to -23.9 percent.
Ans. Around 100 million people lost jobs during lockdown in India.
Ans. The prices of things got inflated and reached up to doubles.
Ans. An approximate of 10,000 companies were shut during lockdown in India.