National Academy of Agricultural Sciences (NAAS)
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PRINT ISSN : 2319-7692 Online ISSN : 2319-7706 Issues : 12 per year Publisher : Excellent Publishers Email : editorijcmas@gmail.com / submit@ijcmas.com Editor-in-chief: Dr.M.Prakash Index Copernicus ICV 2018: 95.39 NAAS RATING 2020: 5.38 |
The COVID-19 pandemic has tremendously given a huge shock on world economy. The prolonged lockdown in most of the countries lead to disruption of demand and supply chains. The pandemic not only resulted extraordinary burden on healthcare sector with abrupt spike in cases every passing day, but also caused deleterious social and psychological impacts on people especially those belonging to the economically deprived sections of society together with loss of lives and jobs. Governments, imposed restrictions like social distancing, complete travel bans and shutdown of different institutions in total, commercial offices and industries, worldwide. The need for medical supplies increased and countries were unable to cope with limited resources like protective wares for healthcare workers and corona warriors. Panic-buying and unnecessary huge stocking of essential commodities by people lead to their shortfall in the availability of market stores. This pandemic is likely to have a long term impact in the lives of people the world over in both as social and economical. The overall socioeconomic effects of COVID-19 on various aspects of the world economy have been summarized in this short review.
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