India is an agricultural sector based country, but in today’s era behind the development of an Indian economy there is a big hand of middle class and lower middle class that’s why India is known as ‘Middle Income Group Economy’.
There are only two points which are concerned in globally pandemic Covid-19 times in India first India:- First, Indian’s economies weaker section means farmer, private factory worker, daily wages worker who roam cities for income and set a roadside small shops for surviving their life.
Second point which is manufacturing sector or business sector means who directly or indirectly produce things from raw material for all.
All over India government is working on these two sector, Government announced public relief fund for better condition and in this term they also provide big package to poor needy people.
But in my opinion government; State or Central have to considered two main points-1. India’s middle class sector
2.Upcoming economic crisis
Indian middle class should be considered because difficulties from economy affect them, they suffered more. They become much weaker. They didn’t get any package from government authority or any kind of relaxation. Always Economy’s crisis effect consideration point shiift towards the poor sector, at present effect of covid-19 is showing same.
IMF report also discuss this fact that middle-class sector is getting weaker day by day in India that’s why it is important to consider them same. Before covid-19 endangered effect Indian economy has nominal GDP based on 45 years minimum. Based on real GDP it has on 11 years level that’s why it is better that for better understanding of economical crisis, economy affect points or endangered effect in past two years should be considered. Then we can run faster again and heal the effect of covid-19 again. We need a strong effective plan.
IMF, World Bank, ADB etc like organisation has cut a big rate in economy profit expect. According to IMF India’s GDP per beneficial can be on 10%. According to World Bank, they give two possibilities that if India become successful in controlling covid-19 effect on right time or right manner, GDP remain on 4% in economy but if effect was wrong and lockdown will have not successful satisfying result then it will be decreased at the rate 1.5%. According to ADP (Asian development Bank), India development level in 2020 2021 is can be possible at 4%. And according to Modiz ‘Indias’s GDP can be possible at the rate of 2.5% in the year 2020-2021.
India economy is also facing difficulties in “reverse migration” . Now people are roaming towards village back. It affect very hard at economy and covid-19 both. It’s difficulties and result are also can be on international level. According to Prime Minister Narendra Modi- we should save the life and the country but with this we have to take some better decisions for daily income for saving the India’s economy loss. After the coronavirus health emergency a big economy of emergency prices is coming soon we prepare to struggle for overcome that. For that they also launched Raahat Yojana Scheme, people get a big hope from that fund. Hope so it’ll be beneficial in right manner.