Abstract: Because of the impact of the epidemic, India has adopted three rounds of comprehensive blockade measures. The main reason is that India ’s population is so large that once the epidemic spreads, it will be difficult to control.

May 7 News Because of the impact of the epidemic, India has adopted three rounds of comprehensive blockade measures. The main reason is that India ’s population is so large that once the epidemic spreads, it will be difficult to control. However, under the implementation of strict blockade measures, the country is in a state of shutdown and shutdown, and the economy is rapidly decelerating. At present, India's industrial production and service industry growth is the weakest level in a decade; the business confidence index is also in a free fall state. India also has a very large group of people facing unemployment. At the same time, the economy has been traumatized and debt has soared. Economic problems are emerging one after another.

It is reported that many international media and institutions believe that India has better development. For example, the IMF expects India to actually grow by 1.9% this year, ranking first in growth rate; Goldman Sachs predicts that India ’s economic growth rate in March will still reach 2.8%.

It has also been called the Asian economic miracle by the US media, but India is still a low-income country, relying on low-interest-rate US dollar financing, has achieved a relatively short-term achievement in a short time.

According to the comprehensive data, the impact of the global health economic situation on the Indian economy has just begun, and India does not have the ability to respond. Indian authorities say that if we do not respond well, our economy will regress for 21 years. In this regard, the analysis believes that the increasing uncertainty of global economic growth, India's economic sustainability is not strong.

In addition, the IMF report released in January showed that India is the country with the highest debt ratio in all emerging markets. India ’s general government debt has soared to 68.1% of GDP in fiscal 2019. India may decline back to its original shape due to debt difficulties. Such signs are well documented.

The worse news is that by the end of last year, the country ’s public debt had increased to $ 1.17 trillion, accounting for 250% of foreign reserves. This shows that the country's ability to resist economic risks is very fragile.

Not only that, India announced the implementation of the third round of a comprehensive blockade, which effectively curbed the spread of the epidemic; but almost stopped economic activity. Some economists estimate that if the blockade continues, the Indian unemployment camp will continue to grow and the number of deaths will increase.

Data concerns, since India's blockade, about 122 million people have been unemployed. As of May 3, India's unemployment rate rose to 27.11%. The unemployment rates in March and April were 8.74% and 23.52%.

In this regard, Rajan, the former governor of the Central Bank of India, said that India ’s unemployment figures are very worrying. Coupled with the oil crisis, many overseas Indian workers are in a dilemma of unemployment.