COVID-19 Pandemic: Impact on Corporates and The Mitigating Measures Taken By Government

COVID-19 is one of the worst crises faced by humankind, a glimpse of the devastating impact of COVID-19 pandemic on the economy was seen by the estimates released by the National Statistical Office. The nation’s GDP growth for the FY was 4.2%, which was the lowest in the last 11 years, while the fourth quarter of the FY witnessed it slump to 3.1%.[1] However, this only takes into account the first week of the lockdown, which started on March 25; thus, the situation is estimated to worsen.