IMPACT OF COVID-19 ON MSMEs

IMPACT OF COVID-19 ON MSMEs

VISWANATHAM HARI TEJA PRABHU

MBA STUDENT, Malla Reddy University, Hyderabad, Telangana, India

Dr. Vijaya Kumar

Professor, Malla Reddy University, Hyderabad, Telangana, India

Abstract

This study investigated how the Coronavirus Disease 2019 (COVID19) pandemic affected MSMEs' financial results.The entire globe is undergoing a revolution, but not this time as a result of advancements in science or alterations in governmental regulations. In response to the unwarranted pandemic scenario brought on by the COVID 19 virus, the entire globe has transformed. The Indian economy is not an exception to the global trend of low economic growth. The micro, small, and medium-sized business sector in India was the worst hit and suffered several difficulties. The study looks at the issues these MSMEs (Micro, Small, and Medium scale Enterprises) encountered during the pandemic and what the government can do to help this sector recover through crisis management. The study examines government reforms and the adjustments Indian MSMEs must make to survive in trying times.