Economics Assignment Help| What Is the Long-run Impact of Covid-19 on the Economy?

Do you need to write a research paper for your economics assignment? If yes, read this blog to get the economics assignment help on the topic “Long-run Impact of Covid-19 on the Economy”.

Covid-19 has drastically changed the shape of the Indian economy in the last three years. Undoubtedly, we see the third Covid wave's influence and high commodity prices. These were the major reasons for the slowdown in India's GDP growth. However, it reached a four-quarter low of 4.1% from January to March 2021–22.

From January through March, the Indian economy expanded at its slowest rate, with 8.7% for the entire year. Additionally, the Russian invasion of Ukraine brings a new inflation barrier to the country.

What Are the Different Indicators for Analyzing the Economic Conditions of the Country?

According to the macro-economics assignment help experts, the following are the indicators that help in finding out the country’s economic conditions:

● Unemployment Rate of the country

● Levels of current account and budget surpluses or deficits in a country

● GDP (whether growth or decline)

● Inflation rates (Too high or low)

What is the Impact of the COVID- 19 on Income, Consumption, Poverty, and Unemployment in India?

With an online economics assignment helper, you may describe the impact of COVID-19 on the Indian economy very well.

The coronavirus pandemic's effects on India have primarily affected economic activities and resulted in fatalities. Almost every industry has suffered as domestic demand and exports have dramatically decreased, with some notable outliers where strong growth has been seen.

Unequal distribution of income

The macroeconomic figures provide an overview of the economic condition in India, but they do not reveal the effects on households and workers. India now has more wealth and income inequality. Approximately 42.5% of the world's wealth was held by the richest 1% of people in 2020, compared to only 2.5% held by the lowest. After the epidemic, it's predicted that India's poor population will have more than doubled, and the middle class will have shrunk.

Unemployment

The income of the households decreases by 40% for many people during the first wave of COVID-19. So, it directly impacts businesses also. Additionally, many people lost their jobs during this pandemic. Thus, the unemployment rate was also high at the time. According to an economics assignment help expert, you can add this data to your assignment.

Income

With fewer jobs and nationwide lockdown, there is hardly any way to earn a living. Well, the income of the people fell at the worst. The poor become poorer, and the middle-class people come under the category of the poor.

Poverty

During the first and second COVID-19 waves, many people lost their lives, and mode of earning, and many people shut down their businesses. This led to high poverty among them. Especially, in urban areas, people’s standard of living is high, so they are most affected and faced the worst economic depressions. So, many of them come under the below poverty line. It means they are not able to earn even their basic living. For this, taking help from the online economics assignment helper is a good alternative for you.

Who says COVID-19 has not made any effect on the business?

This pandemic badly hits businesses, and nearly all small businesses shut down due to no income. The bigger enterprises have started laying off their employee due to cost-cutting. To learn the serve effect of this pandemic on business, you can take the Managerial Economics Assignment Help.