In: Economics
At present, Covid-19 has emerged as a global pandemic or
disaster. Because of which the global economy has suffered at a
large scale, the whole world can enter a dangerous global recession
even after the Great Depression of 1930 or the recession that
occurred due to the Crisis of 2008-09.
Due to Covid-19, the service sector of the economy has been
affected the most. Because to tackle this problem, the steps of Lok
Down at the national level have been taken by the governments of
different countries of the world, besides social distancing has
also been encouraged. Due to which adverse effects have arisen in
the following sectors of the service sector.
Retail services - except for the essential commodity, the opposite
effect has arisen on the markets of other commodities.
E-commerce services also affected badly as social distancing is prioritized by eveyone.
Under the transport sector, the general use of road, rail and
air transport has been banned at the international and national
level due to which the transport sector has suffered extensive
damage.
The education sector has also been highly affected by the Corona
virus and the services provided by such institutions which used to
provide offline facilities have been discontinued at the present
time.
But due to coronavirus, the health care sector has benefited the
most because at the present time most attention is being given to
the health of the people, which seems to be the only positive
effect of coronavirus in the service sector.