COVID-19 and financial development in India: A qualitative analysis based on sixteen fiscal indices

Abstract

Each sector of the global economy, as well as several economic and financial indicators, is severely impacted by COVID-19. However, the purpose of the study is to look at how COVID-19 has affected India's financial progress in the short run, based on sixteen key financial metrics. Since the Covid pandemic is a recent occurrence, thus an econometric analysis cannot be conducted by using the data available for such a short period of time. As a result, The study follows a descriptive research design and is purely qualitative in nature, with annual growth rates, CAGR (compound annual growth rate), and line diagrams employed to substantiate the objectives. However, to the best of my knowledge, this is the first study that focuses on the immediate implications of the COVID-19 pandemic on India’s financial development as a whole. And, according to the study, the epidemic has reportedly had a short-term negative effect on India's overall financial prosperity.