IMPACT OF COVID -19 ON SERVICE SECTOR  & REVIVAL STRATEGIES

K. Suresh Kumar; Dr. N. Udaya Bhaskar; Dr. R. Pardhasaradhi

Authors

K. Suresh Kumar HOD, Department of Management Studies, S.D.College of I.T, Tanuku.
Dr. N. Udaya Bhaskar Assistant Professor, DCMS, AdiKavi Nannaya University,Rajahmundry
Dr. R. Pardhasaradhi Principal,Sri Y N College, Narsapur

Keywords:

Coronavirus, Pandemic, India, Economy, Service Sector, GDP, Stratgey

Abstract

Coronavirus disease (COVID-19) is having an unprecedented and unpredictable impact on the world's economy. The coronavirus epidemic (COVID19) has affected the global economy and service sector. The service sector can be viewed as an intangible econoomic activity that can neither be stored nor result in any ownership, but plays a very special role in the country’s economy. It has a very notable impact on the India’s economy by its contribution which is around 55 % of the total economy. It has emerged as the largest and fastest-growing sectors of the Indian economy, making higher contributions to national income and employment. The covid 19 has worst impacted each and every sector of the market so as the service sector. Sectors like Education, Health Care, Gym, Tourism have witnessed a direct impact as the involvement of the people/Customers/Consumers were limited or completely shut. The purpose of the current study is to assess the effect of COVID-19 on service sector growth and sustainability.

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