MBA Journals Peer-reviewed management research from Consortium e-Learning Network

NOLEGEIN Journal of Financial Planning And Management

Financial Impact of COVID-19 in India-Critical Review

  1. Joel Jebadurai
  2. Ranjith Krishnan

Abstract

Investment and savings is the pillar for people to safeguard them during the crisis. It is important tosay that, Indians are grown up with the habit of these investment and savings. India is stabilized itsfinancial position during the Global Financial Crisis in 2007-2008 speedily because of its investmentand savings pattern in various form of reserves. But COVID-19 hit the economical position of the peoplevery much because of its prolonged lockdown throughout India. This article covers the financial impactof COVID-19 on people in various dimensions. The researchers collected the data from websites andtelephonic conversation with the people living in various states of India to understand the impact ofCOVID-19 on their financial planning. The researchers found that COVID-19 made a vulnerableimpact on financial pattern of people, so recommendations were made to the people to safeguard themfrom this financial crunch.

Keywords

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