With the COVID-19 effect in India, the country has undergone complete lockdown on March 21st and all the works have been stalled abruptly. There are no working offices in the private sector, no transportation of goods and everything was completely restricted that resulted in serious economic crisis. Especially in states like Andhra Pradesh, the Corona has hit the economic system very badly.
Handicrafts, Textiles and Gold merchants are suffering very huge losses and the present crisis is just the mirror image of the virus threat. So there is a chance of lockdown extension and what would Andhra Pradesh do in that case and what is the present scenario in this Telugu state right now?
It will take at least a month for the industries and companies to start their work with full flow and in the meanwhile, many of these organizations opted for layoffs considering the crisis situation. Hence the capacity to purchase is declined in many people and the economic structure will definitely take a hit.
After the completion of Lockdown, many smallscale and medium-sized industries and companies will be shut down and many people will turn unemployed. Coming to government, projects like Polavaram needs huge funds and thousands of crores are needed for the implementation of Navaratnalu. Hence the analysts opine that Andhra Pradesh will take at least 5 years to recover from this economic crisis.