IMPACT OF COVID-19 ON SMALL BUSINESS IN INDIA
Bhoompalli Harsha Vardhan Reddy
MBA STUDENT , Malla Reddy University , Hyderabad , Telangana , India
Dr . Vijaya Kumar
Professor , Malla Reddy University,Hyderabad,Telangana,India
INTRODUCTION
"Flattening the curve" of the COVID-19 epidemic is still a goal for India. The first case of COVID-19 in India was recorded on January 30th (1/30/2020), and as of September 21st, 2020, there had been more than five million cases reported. With populations of 18 and 20 million, respectively, the two major cities of Delhi and Mumbai have reported cases in excess of 184,000 and 246,000, respectively. The epidemic has unsurprisingly had a significant influence on the economy, albeit the extent of those repercussions is not yet fully known. Small businesses, which are essential to the operation of India's industrial and service sectors, have been hardest hit. This study provides a bird's-eye view of COVID-19's effects on micro, small, and medium-sized businesses.
In response to the COVID-19 outbreak, the Government of India (GOI) implemented lockdown measures, which included a ban on domestic road, rail, and air travel as well as the closure of educational institutions, industrial establishments, and hospitality services, among other measures. The announced regulations specifically listed both a list of economic activities that are permitted and are deemed important, as well as a list of activities that are not considered important and are therefore prohibited (for example, all commercial, private enterprises, including manufacturing, restaurant services, hotels, courier services, etc.).During the lockdown, there were hospital services, electricity and water, and ATM banking. The Government of India (GOI) imposed a nationwide lockdown for the following periods: 21 days, from March 25 to April 14, 2020 (Lockdown 1.0); 19 days, from April 15 to May 3, 2020 (Lockdown 2.0); 14 days, from May 4 to May 17, 2020 (Lockdown 3.0); and then 14 more days, from May 18 to May 31, 2020 (Lockdown 4.0). The number of reported total active cases, the rate at which confirmed cases doubled, and district feedback were used to assess the risk profile of the districts and determine how stringent the measures should be. Districts were divided into three groups: Orange, Green, and Red zones (hotspots). 130 districts across the nation were selected by the Union Health Ministry.
