AN OVERVIEW OF THE SCENARIO OF INDIAN SERVICE SECTORS WITH REFERENCE TO THE COVID-19 OUTBREAK
COVID-19 is now stamped as a global tragedy because of the fact that it will not only become the history but also will change everybody’s way of life ahead. It is feared by the experts that COVID-19 will remain on the earth for 100 years and thus will the changes in the human life forever.
There are multiple dimensions where by the life would be affected because of the COVID19 right from the common life to the entire economy of the world. Some of the effects have been seen as the Indian economy has experienced significant slowdown over the past quarters. In the third quarter of the current fiscal, the growth rate of the economy was at a six-year low that is of 4.8%. India’s growth rate projection which was around 6% for the year 2020-2021 has been slashed to 0.8%. Service Sector of Indian economy is struggling to alive in the critical situation of the Corona outbreak. According to the data collected it is proved that the service sector has been significantly affected due to Covid 19 pandemic.