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Comparative Studies | Economics | India | Volume 12 Issue 3, March 2023 | Popularity: 5 / 10

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The Comparative Analysis of Economic Dropdown in Recent Global Epidemic and it?s Immediate Impacts on Financial Environment and Different Sections of the Society

Shatarupa Baul

Abstract: An economy encompasses all activity related to production, consumption, and trade of goods and services in an area. An economy applies to everyone from individuals to entities such as corporations and governments. The economy of a particular region or country is governed by its culture, laws, history, and geography, among other factors, and it evolves due to necessity. For this reason, no two economies are identical. Financial markets (such as those that trade stocks or bonds), instruments (from bank CDs to futures and derivatives), and institutions (from banks to insurance companies to mutual funds and pension funds) provide opportunities for investors to specialize in particular markets or services, diversify risks, or both. Financial markets help to efficiently direct the flow of savings and investment in the economy in ways that facilitate the accumulation of capital and the production of goods and services. The combination of well-developed financial markets and institutions, as well as a diverse array of financial products and instruments, suits the needs of borrowers and lenders and therefore the overall economy. With the recent downfall in the economic growth of a country due to global epidemic outbreak, the impact on financial markets has resulted to a huge drawback for a country?s overall aspects . This is a truly global crisis as no country is spared. Countries that are completely relied upon tourism, travel, hospitality, and entertainment for their growth are experiencing huge downfall. Economic recovery and earnings growth in India are likely to be a bit slowed down, as the virus has a huge impact on economic activities in India - travel, tourism, hotels, manufacturing and services having global dependence and now even the corporate sectors starting to lower down the operations and productivity with work-from-home policy. The worst affected will be those who lose their job or see their hours/self-employed income dramatically fall.

Keywords: economic downfall scarcity economy pandamic stock bond business cost cutting imports tourism aviation

Edition: Volume 12 Issue 3, March 2023

Pages: 938 - 943

DOI: https://www.doi.org/10.21275/SR23317152047

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