Munich Personal RePEc Archive

Impact of Covid-19 on Different Entrepreneurial Schemes

Publishers, KMF and Yadav, Ankit (2021): Impact of Covid-19 on Different Entrepreneurial Schemes. Published in: Asian Microeconomic Review , Vol. 1, No. 1 (15 October 2021): pp. 16-23.

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Abstract

India saw economic downturn in 2018 due to various reasons, slipping from the tag of world fastest economy, moody amended India’s outlook to negative, unemployment rate were at 6.1% highest ever since 45 years, also registered electric generation growth at 1.8% lowest since 1990 accompanied by negative export growth rate which was around -1% in 2019. Which means Indian economy was almost at doorsteps of recession when Covid-19 made an appearance. This would probably the worst timing when covid-19 pandemic could have hit the economy. In order to resuscitate the economy from slippery slope of recession, government introduces some serious measures, but they were curtailed by covid-19 pandemic. Most of private firms lay-off their workers in order to save themselves from mounting losses due to lockdown, while other experienced a salary cut. Entrepreneurs are the building blocks of any nation & the same was realized by Indian government due to which some serious measures were taken to facilitate the entrepreneurs such as ATAL Innovation Mission, Startup India Initiative, ASPIRE etc. The main aim of government was to bring youth under the umbrella of self employement in order to tackle various issues to paddle out economy from grip of slowdown & to save entrepreneurial activities of micro business. It would be a descriptive study in which researcher aims to analyze the different schemes undertaken by government prior to covid-19 era & how these were impacted by covid-19. The study is going to provide an apogee that does pandemic may or may not have impacted entrepreneurial activities. Also it will highlight gravity of Government measures for micro businesses in India.

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