PROJECT WORK ON

BUSINESS RESEARCH AND METHODS

SUBMITTED BY
ANAY BISWAS
MBA (SEMESTER-2)
A91801919064

TABLE OF CONTENT
INTRODUCTION................................................................................................3
LITERATURE REVIEW.....................................................................................5
METHODOLOGY...............................................................................................6
OBJECTIVE OF THE STUDY............................................................................7
DATA’S AND METHODOLOGY......................................................................8
MATERIALS AND METHODS.........................................................................9
ANALYSIS.........................................................................................................11
CASE 1: Impact on Various Sectors based on a study through Economic
Times...............................................................................................................11
CASE 2: Impact on Financial Sector...............................................................13
CASE 3: Impact on growth.............................................................................14
CASE4: Travel and Tourism during COVID19..............................................14
CASE 5: How are industries handling COVID19?.........................................15
1. Educating the workforce and communicating with employees on a regular
basis..............................................................................................................15
2. Reinforce healthy hygiene practices.........................................................15
3. Suspending and limiting business-related travels....................................16
CASE6: How is FMCG handling COVID 19.................................................16
FINDINGS..........................................................................................................18
POLICIES IMPLICATIONS..............................................................................19
APPENDIX.........................................................................................................20
Table 1: Comparative position of different nations with respect to different
parameters........................................................................................................21
QUESTIONIARE...............................................................................................23
CONCLUSION...................................................................................................24
REFERENCES:..................................................................................................25

INTRODUCTION
Organizations refer to groups of people who work independently towards some purpose.
Organizations are not physical structures; rather, they are people who work together to
achieve a set of shared goals. People who work in organizations have structured patterns of
interactions, meaning that they expect each other to complete certain tasks in an organized
way. In the world economy per se, we have businesses which have really established
themselves as a name. Unilever, Tata group, Infosys etc. are just few names. We also have
businesses which are

 Growing at a higher rate

 Growing at a steady rate
 Growing at a lower rate
 Loss making.

If we neglect the loss-making ones, we still have three categories left which are of utmost
importance. But, unfortunately, tragedy has struck the world. Today the whole world is
suffering from a common disease which is Covid-19. The name “Covid-19” is known as the
Novel corona virus (nCoV), discovered first in Wuhan, China on December 2019. Millions of
people have been affected by this virus; some have died, while the remaining are still
recovering. The whole world is under a “lockdown”; people are indoors, shops are closed.
Everything has come to a standstill. The figures are really alarming and disturbing also. In
this regard we will study how the world economy is coping up with the Covid-19 situation,
with special emphasis on the Indian Economy. In this paper we will also seek to find
potential solutions on how businesses can cope with any other crisis in the near future.

The 2019–20 corona virus pandemic is an ongoing pandemic of corona virus disease 2019
(COVID-19) caused by severe acute respiratory syndrome corona virus 2 (SARS-CoV-2).
The outbreak was identified in Wuhan, China, in December 2019. The World Health
Organization declared the outbreak to be a Public Health Emergency of International Concern
on 30 January 2020, and recognized it as a pandemic on 11 March 2020. As of 20 April 2020,
more than 2.41 million cases of COVID-19 have been reported in 185 countries and
territories, resulting in more than 165,000 deaths. More than 632,000 people have recovered,
although there may be a possibility of relapse.

The virus is primarily spread between people during close contact, [c] often via small
droplets produced by coughing, [d] sneezing, or talking. While these droplets are produced
when breathing out, they usually fall to the ground or onto surfaces rather than remain in the
air over long distances. People may also become infected by touching a contaminated surface
and then touching their eyes, nose, or mouth. The virus can survive on surfaces for up to 72
hours. It is most contagious during the first three days after the onset of symptoms, although
spread may be possible before symptoms appear and in later stages of the disease. Common
symptoms include fever, cough and shortness of breath. Complications may include
pneumonia and acute respiratory distress syndrome. The time from exposure to onset of
symptoms is typically around five days, but may range from two to fourteen days. There is no
known vaccine or specific antiviral treatment.

Primary treatment is symptomatic and supportive therapy. Recommended preventive

measures include hand washing, covering one's mouth when coughing, maintaining distance
from other people, and monitoring and self-isolation for people who suspect they are
infected. Authorities worldwide have responded by implementing travel restrictions,
quarantines, curfews and stay-at-home orders, workplace hazard controls, and facility
closures. Many places have also worked to increase testing capacity and trace contacts of
infected persons.

The pandemic has led to severe global socioeconomic disruption, the postponement or
cancellation of sporting, religious, political and cultural events, and widespread shortages of
supplies exacerbated by panic buying. The pandemic has led to one of the largest global
recessions in history, with more than a third of the global population being in lockdown.
Schools, universities and colleges have closed either on a nationwide or local basis in 197
countries, affecting approximately 99.9 per cent of the world's student population.
Misinformation about the virus has spread online, and there have been incidents of
xenophobia and discrimination against Chinese people and against those perceived as being
Chinese, or as being from areas with high infection rates. Due to reduced travel and closures
of heavy industry, there has been a decrease in air pollution and carbon emissions.

LITERATURE REVIEW
An article from “The Economic Times”, where ET wealth studies have shown the impact of
Covid-19 on the world economy and how India is placed. Another article stated that IMF
fears that amidst the sluggish rate of growth of the world economy, it is bound to face a
recession.
An article published in ETmarkets.org has shown the impact of corona virus in various
sectors.

“Business Today” has also published an article upon how corona virus has hurt the Indian
economy.

According to an article published in “Business Insider”, IMF predicts that 170 global
economies will shrink may be too optimistic.

An article published in “Quartz India”, has stated that India may escape a recession, but
corona virus will slow down growth further. In this article a major credit rating agency
Moody’s has analyzed the position of the Indian economy as well.

IMF has also conducted a research where they try to see how Covid-19 poses a threat to
financial stability.

NASSCOM Community has shown how the IT industries are tackling the current scenario of
COVID-19 Crisis to remain productive.

“India Today” published an article where the RBI governor has come up with a set of
measure to combat the current Indian economic situation.

METHODOLOGY
Methodology used in this research assignment is secondary data. Social media post and
websites where mainly used in this research. Methodology refers to the process of analyzing,
and observing data, theory and other tools for analysis. The project describes the current
situation of businesses and predicts the future based on sample.
Tabular representations, graphs have also been given to make the analysis simple. A
comparative analysis has been made with respect to various sectors as well.

OBJECTIVE OF THE STUDY

The main objective is to analyze how businesses are tackling the current economic situation,
and how will it respond to the effects of Covid-19 in businesses in the near future. There are
various indicators like employment, output, exports etc. which have been taken into account.
 DATA’S AND METHODOLOGY
We have used secondary data for the analysis. Data have been compiled from various articles,
websites and reports.
 Methodology refers to the process of analyzing, and observing data, theory and other tools for
analysis. The project describes the current situation of businesses and predicts the future
based on sample.

Tabular representations, graphs have also been given to make the analysis simple. A
comparative analysis has been made with respect to various sectors as well.

MATERIALS AND METHODS

 Keep Asking, Keep Observing, Keep Learning
While in-person qual work has virtually ended for several obvious reasons, and we should not
distract or disturb physicians and other healthcare professionals – clearly, they have more
 important things to do than answer your survey, no? – we need to continue our work. After
all, how will we know if consumer anxiety is easing if we don’t track it consistently through
its peak?
In times of business turmoil, we encourage business to measure. When the world is shifting
due to disruption of innovation, we over-invest in methods to understand. In times of crisis,
it’s more important than ever to listen, learn, and understand.

 Shifting Sentiments & Temporary Mindsets

How valuable are opinions expressed during times of extreme anxiety and unusual
circumstances? It’s a fair question, especially regarding such topics as discretionary
spending, health, travel, safety and security. So, while the pendulum of emotion may be at an
extreme on a particular issue or category at various times, that does not mean it does not
warrant measurement. It simply needs to be accompanied by awareness and context.
Many potential problems can be mitigated through extra preparation and focus including
adjusting certain quotas and being sensitive to the fact that people may be worried. Another
consideration would be to add a simple question to the demographic section of survey work,
asking about their level of concern or impact from COVID, and use it as a segmentation data
point.

• Of Modes & Methods

As would be expected, in-person qualitative research has tailed off steadily during the past
several weeks and is now virtually non-existent. All other forms of research, from telephone
and digital to mail and paper are available to researchers. Proliferations of web-based
platforms and solutions have helped the steady and quick migration online. While there is
some risk of data changes during this time, especially as it relates to travel, spending habits,
and health, the data is real and based on how people feel at the time that the research is
conducted.

• On Response Rates
From the outset of the COVID-19 crisis, we have heard questions and concerns about a
potential decline in response rates. While initially that may have been an issue, it appears, as
more communities move into lock-down and many people find themselves idling at home
(some craving outside contact), response rates have in some instances inched higher. Insights
Association member companies – a wide set of agencies, telephone, and panel companies –
report steady response rates overall. Being at home, people are more accessible and, in some
instances, more open to conversations and sharing their opinions, researchers have observed.
This increased respondent engagement has allowed seamless transition of intercept trackers
to a phone/digital system, according to one company

ANALYSIS

CASE 1: Impact on Various Sectors based on a study through Economic Times

• For the automobile industry the impact would depend on the extent of their business with
China. The shutdown in China has prohibited import of various components affecting both
Indian auto manufacturers and auto component industry. However, current levels of
inventory seem to be sufficient for the Indian industry. In case the shutdown in China
persists, it is expected to result in an 8-10 per cent contraction in Indian auto manufacturing
in 2020. However, for the fledgling EV industry, the impact of corona virus may be greater.
China is dominant in the battery supply chain, as it accounts for around three-quarters of
battery manufacturing capacity.

• The Indian Pharmaceutical industry relies heavily on import of bulk drugs India imported
around Rs 24,900 crore worth of bulk drugs in FY19, accounting for approximately 40 per
cent of the overall domestic consumption. With India’s API imports from China averaging
almost 70% of its consumption by value, importers are at the risk of supply disruptions and
unexpected price movements. For many critical antibiotics and antipyretics, dependency on
imports from China is close to 100 per cent. These APIs require large capacities of
fermentation boilers, USP of Chinese manufacturers, giving an upper hand to Chinese
manufacturers. Delivery and tracking of consignments are still uncertain within China
whether inward or outward.

• China is a major supplier both for the final product as well as the raw material used in
electronics industry. India’s electronics industry is fearing supply disruptions, production
reduction, impact on product prices due to heavy dependence on electronics component
supply-directly and indirectly-and local manufacturing. The spread of coronavirus could have
pushed down the sales of top electronic companies and smart phone makers which have
major supplies to India.

• The aviation sector has also been impacted by the spread of coronavirus. The outbreak has
forced domestic carriers to cancel and temporarily suspend flights operating from India to
China and Hong Kong. Carriers such as Indigo and Air India have halted operations to China.
The temporary suspension of flights to China and Hong Kong would lead to domestic carriers
missing out on gross revenue targets.

• IT companies are heavily dependent on manpower and are not able to operate due to
restriction in movement of people arising from lockdown and quarantine issues.
Consequently, they are not able to complete or deliver the existing projects in time and are
also declining new projects. Further, the global customers for Indian IT companies in China
have started looking for other service providers in alternate locations such as Malaysia,
Vietnam, etc.
• Many garment or textile factories in China have halted operations owing to the outbreak of
corona virus, adversely affecting exports of fabric, yarn and other raw materials from India.
The disruption is expected to slow down cotton yarn exports by 50 per cent, leading to a
severe impact on the spinning mills in India. Due to this slowdown in the flow of goods and
hence revenue, textile units may be hampered in making annual interest and repayments to
financial institutions, thereby defaulting their dues. This will also adversely impact the
demand from cotton farmers, who were already witnessing subdued prices and fear that the
said price may fall further if the China crisis continues unabated. It may be mentioned that
India already has a price disadvantage against countries like Vietnam, Pakistan and Indonesia
which have duty free access to China for export of cotton yarn. On the other hand, the corona
virus issue in China unfolds a big opportunity for all those industries where China is a major
exporter.

CASE 2: Impact on Financial Sector.

According to the IMF, all of the G7 nations had already entered or were entering into what
was called a 'deep recession', alongside most of the western world with significant slowdown
of growth across developing and emerging economies. The IMF has stated that the economic
decline is 'far worse' than that of the Great Recession in 2009.
The recent stock market crash has occurred. Rising fears and global economic shutdown due
to the economic impact of COVID-19 is believed to be a main cause of the stock market
crash, though many experts have argued that it is an 'accelerant' rather than a sole core reason
behind the crash.

The latest Global Financial Stability Report shows that the financial system has already felt a
dramatic impact, and a further intensification of the crisis could affect global financial
stability. Since the pandemic’s outbreak, prices of risk assets have fallen sharply. At the
worst point of the recent selloff, risk assets suffered half or more of the declines they
experienced in 2008 and 2009. For example, many equity markets—in economies large and
small—have endured declines of 30 percent or more at the trough. Credit spreads have
jumped, especially for lower-rated firms. Signs of stress have also emerged in major short-
term funding markets, including the global market for U.S. dollars

• Market Strain:

This is characterized by:

 Sharp tightening of financial conditions:

To preserve the stability of the global financial system and support the global economy,
central banks have come up with different measures like:

1. reduction in policy rates,

2. provided additional liquidity to the financial system,
3. including through open market operations and access to credit at an affordable
price.

 Unprecedented outflows:

As so often happens at times of financial distress, emerging markets risk bearing the
heaviest burden. In fact, emerging markets have experienced the sharpest portfolio flow
reversal on record—about $100 billion or 0.4 percent of their GDP—posing stark
challenges to more vulnerable countries.
  Lower bank capitalization:

Banks have more capital and liquidity than in the past, and they have been subject to
stress tests and greater supervisory scrutiny in recent years, putting them in a better
position than at the onset of the global financial crisis. In addition, the substantial and
coordinated action by central banks to provide liquidity to banks in many economies
should also help alleviate potential liquidity strains. Nonetheless, the resilience of banks
may be tested in the face of a sharp slowdown in economic activity that may turn out to
be more severe and lengthy than currently anticipated. Indeed, the large declines in bank
equity prices since mid-January suggest that investors are concerned about profitability
and prospects for the banking sector.

CASE 3: Impact on growth.

According to a study by Moody’s Investors Service, India’s GDP growth could fall from
about 5% to 2.5%. RBI also predicted even a lesser growth rate of 1.9%, although being
optimistic that it would grow at 7.4% in 2021. A World Bank report focusing on South Asia
said that India's economy is expected to grow 1.5% to 2.8% for FY21.This will be the lowest
growth for India in 30 years. The World Bank report said that the pandemic has "magnified
pre-existing risks to India’s economic outlook".

CASE4: Travel and Tourism during COVID19

Tourism is currently one of the most affected sectors and UNWTO has revised its 2020
forecast for international arrivals and receipts, though emphasizes that such any predictions
are likely to be further revised.

Against a backdrop of travel restrictions being introduced, UNWTO underscores the

importance of international dialogue and cooperation and emphasizes the COVID-19
challenge also represents an opportunity to show how solidarity can go beyond borders.
  The tourism sector, like no other economic activity with social impact, is based on
interaction amongst people. UNWTO has been guiding the tourism sector’s response
on several levels:
 By cooperating closely with the World Health Organization (WHO), the lead UN
agency for the management of this outbreak;
 by ensuring with WHO that health measures are implemented in ways that minimize
unnecessary impact on international travel and trade;
 by standing in solidarity with affected countries; and
 by emphasizing tourism’s proven resilience and by standing ready to support
recovery.

CASE 5: How are industries handling COVID19?

1. Educating the workforce and communicating with employees on a regular basis

Education has always been the greatest weapon in fighting any war. And the COVID-19 has
become a World War against the unknown. To date, the only solution brilliant minds around
the world have come up with to fight against this virus is to avoid it in the first place. And, to
avoid such a powerful enemy, preventing it from reaching you is the best possible offense
you can make through the defense.

By educating the employees on how to take preventive measures not only in the office but
also in their daily life, we have made our first move. We also communicated with each one of
our employees to help them gain more resources and learn about the situation as it grows.
Each one of our employees is notified through various official communicating tools about the
on-going scenario even if they are not present at the office.

2. Reinforce healthy hygiene practices

Even after having proper hygienic rules in our office, we have made some special changes in
them viewing the current scenario.

Some of them are as follow:

 We have installed large hand sanitizer dispensers at various places in our office like the
entry gate, in front of the fingerprint scanner, etc. Everyone is asked to cleanse their
 hands properly with the alcohol-based hand sanitizers before touching the scanner and the
attendance register.

 More liquid hand washes and dispensers are installed at bathrooms and pantry even if we
have them already. It is to make sure that everyone is able to wash their hands properly.
And then all the members are requested to wash their hands with these liquid hand
washes for more than 20 sec for desired result and protection.

 Everyone is asked to avoid touching their mouth, nose, and eyes as much as possible.

 Wearing proper masks when traveling outside is requested to each one of our employees.
It is also made advisable to wear masks at office premises if they want to.
The employees are asked to stay at home if feel sick and seek medical emergency if found
any symptoms related to the COVID-19.

3. Suspending and limiting business-related travels

There is no doubt that being in such a drastically evolving industry like IT, business tours,
travels, conference meetings at various outer locations, training, etc. are common. But we
have made it strictly limited to prohibited any such practices considering the current scenario.
But we also made sure that such practices should not cause any inconvenience.

CASE6: How is FMCG handling COVID 19

As economic activity stagnates due to the government’s lockdown in the wake of covid-19
crisis, 100-year-old conglomerate Godrej Group is talking to the government on how to work
through production and supply chain constraints for its FMCG arm Godrej Consumer
Products Ltd. GCPL is awaiting the government’s approval to resume factory operations,
albeit with 50% of its manufacturing and distribution workforce to ensure availability of
essential goods and minimize the impact of the lockdown, both for the consumer and the
company.
 Due to the Covid-19 crisis and the lockdown how badly is the FMCG sector impacted
and what is the new strategy adopted by Godrej to maintain the growth momentum at
this stage?

no distribution in the market and consequently productions have also been shut down. The
extent of the impact will depend on how long this crisis persists. Within categories, the
discretionary ones could get more impacted than staples in the near term. And we will also
see new habits and changes in consumer behavior. As a strategy, going forward, our first
priority is to get the supply chain back on track, get production back and running and ensure
availability of essential items. The focus is to resume production activities of essential items.
Our first priority is to keep our team members healthy and safe. At this stage, availability
takes precedence over pricing. In recent days, the supply chain has been disrupted. This is not
a surprise, considering the unprecedent nature of the lockdown across the country. The
government is well aware of the challenges and in line with its commitment to ensure
uninterrupted supplies of essential items, it is working closely with the industry to get the
supply chain back on track. So, after a shutdown of a few days, we are ramping up our
manufacturing and distribution again. This will be at a reduced capacity.

FINDINGS
 Sector-wise production is decreasing
 Due to increased demand for essential products, prices of essential products are increasing.

 The lockdown has brought about stagnation in most businesses.

 Due to unavailability of transportation, raw materials etc. production has almost stopped.

 New vehicle sales in the United States have declined by 40%. The American Big Three (GM,
Ford, Fiat) have all shut down their US factories. The German automotive industry is coming
into the crisis after having already suffered from the Diesel gate-scandal, as well as
competition from electric cars.

 Major companies in India such as Larsen and Toubro, UltraTech Cement, Tata Motors have
temporarily suspended or significantly reduced operations in a number of manufacturing
facilities and factories across the country. Nearly all two-wheeler and four-wheeler
companies have put a stop to production till further notice. Many companies have decided to
remain closed till at least 31 March such as Cummins which has temporarily shut its offices
across Maharashtra. Hindustan Unilever, ITC and Dabur India have shut manufacturing
facilities expect for factories producing essentials. Foxconn and Wistron Corp, iPhone
producers, have suspended production following the 21 days lockdown orders.

POLICIES IMPLICATIONS
 Even as the virus runs rampant around the globe, some nations hit hardest by the pandemic
are already planning for economic reopening. Yet widespread testing is needed before any
reboot can take place.

 The real impact on the Indian economy can be observed during the initial months of 2021.
For GDP to increase, heavy investment and liquidity needs to be injected.

 During this period of crisis, Government has to spend as much it can afford, but keeping the
receipts.

 Monetary and fiscal policies coupled together should aim to cushion the impact of the
COVID-19 shock and to ensure a steady, sustainable recovery once the pandemic is under
control. Close, continuous international coordination will be essential to support vulnerable
countries, to restore market confidence, and to contain financial stability risks. The IMF is
ready to assert the full weight of its resources—first, to help protect the world’s most
vulnerable economies, and, for the long term, to strengthen the eventual recovery.

APPENDIX
 Graph 1: Sharp tightening of financial conditions
 Therefore, from the graph, we see that the sharp tightening of global financial conditions
since the COVID-19 outbreak—together with the dramatic deterioration in the economic
outlook has shifted the one-year-ahead distribution of global growth massively to the left.
This point to a significant increase in downside risks to growth and financial stability. There
is now 5% likelihood (an event that happens once every 20 years) that global growth will fall
below -7.4 percent. For comparison, this threshold was above 2.6 percent in October 2019.

 Graph 2: Unprecedented Outflows

The global spread of COVID-19 may require the imposition of tougher and longer-lasting
containment measures—actions that may lead to a further tightening of global financial
conditions should they result in a more severe and prolonged downturn. Asset managers
facing large outflows may be forced to sell into falling markets—thus intensifying downward
price moves. In addition, levered investors may face further margin calls and may be forced
to unwind their portfolios; such financial deleveraging may aggravate selling pressures.

 Graph 3: Lower bank capitalization

Indeed, the large declines in bank equity prices since mid-January suggest that investors are
concerned about profitability and prospects for the banking sector. For example, measures of
bank capitalization based on market prices are now worse than during the 2008 global
financial crisis in many countries. The concern is that banks and other financial
intermediaries may act as an amplifier should the crisis deepen further.
 Table 1: Comparative position of different nations with
respect to different parameters

Country Annual GDP Covid Covid Expected

GDP ($ growth cases per deaths per GDP growth
billions) rate in million million (April 2020)
2019 population populatio
n

United 20,544.34 2.30% 1855 79 -5.90%

States

China 13,608.15 6.00% 57 2 1.20%

Japan 4971.32 0.70% 60 1 -5.20%

Germany 3947.62 0.40% 1578 42 -7.00%

UK 2855.30 1.10% 1383 178 -6.50%

France 2777.54 0.90% 2195 241 -7.20%

India 2,718.73 4.70% 8 0.3 1.90%

Italy 2083.86 0.09% 2687 ` 348 -9.10%

Brazil 1868.63 1.67% 119 7 -5.30%

Canada 1713.34 1.80% 717 24 -6.20%

Therefore, from the above table we see that:

 The death toll in New York has crossed 10,000 and the virus is now spreading to other states.
Shutdowns are expected to continue for some more time.

 With the Covid situation appearing to be under control for now, China is likely to continue to
grow in 2020, though at a slower than before pace.

 Though the Covid situation is reasonably under control, Japan’s fragile economy won’t be
able to withstand global shutdowns.
 Germany is still battling the virus and its economy is expected to contract by 7%.

 In UK the number of new cases detected and the death toll remains high. The negative impact
on the economy will be significant.

 France is the worst hit by Covid in Europe. Due to prolonged shutdowns, its economy is
expected to contract by 7.2% in 2020.
 IMF says India will remain the ‘fastest growing major economy in 2020’. But one must
remember that the Covid onslaught is only at an early stage in India.

 Italy is totally devastated by Covid

 Brazil is still at the starting stage.

 Canada seems to improve.

QUESTIONIARE
 CONCLUSION
Amidst the Covid-19 situation which is continuously worsening every day, the businesses are
also struggling to cope up with the daily activities. Since the entire world, including India is
in a state of lockdown, we are seeing that decrease in a nation’s output, employment, income
etc. is leading to diverse negative effects like poor standard of living, less access to goods,
shortage, and above all, corruption.

Scientists are constantly stressing upon various factors, two of the most important being
cleaning one self and social distancing. While other countries are strictly following them,
India doesn’t seem to care.

But again, scientists believe that this will go away and the world will be back to normal.
However, the after effects of Covid-19 upon business are still something to look upon. While
businesses continue to struggle during the lockdown, the forthcoming months are really hard
to predict as of now, because we do not know when this deadly virus will be gone, when will
the lockdown end and when will all things return back to normal. As of now, we have to
leave it at the hands of our esteemed health care professionals, scientists etc. who are working
hard to find the antidotes.

Therefore, the effects in the forthcoming period will only be visible after the lockdown ends
and everything is back into action. We would also have to look into how the general public
will respond to the crisis after the lockdown ends. All these factors taken into account will be
worthwhile to analyze the aftereffects.
 REFERENCES:
 https://www.businesstoday.in/current/graphics/infographic-coronavirus-india-
economy/story/401325.html: Business Today article on how corona virus is affecting the
Indian economy.

 https://blogs.imf.org: IMF reports and articles on corona virus and impact of financial
stability.

 https://economictimes.indiatimes.com: Economic Times articles (corona virus impact on

world economy, world economy bound to suffer severe depression, corona virus and its
impact on various sectors).

 https://indiatoday.in: India Today official website.

 https://qz.com/india: “India may escape a recession, but corona virus will slow down growth
further”.

 https://wikipedia.org: Stock Market crash of 2020, Socio-economic impact of Covid-19

Pandemic, Corona virus types.