IMPACT OF COVID-19 ON HOUSEHOLD INCOME AND CONSUMPTION: A STUDY OF NAINITAL DISTRICT

Author Name: 1. Naveen Ram 2. Amit Melkani 3. Jitendra K. Lohani 4. Prof. Rajnish Pande

Volume/Issue: 03/01

Country: India

DOI NO.: 08.2020-25662434 DOI Link: https://www.doi-ds.org/doilink/06.2022-84235976/UIJIR

Affiliation:

1. Simulation Specialist, Vidyanta Skill Institute Pvt. Ltd., Gurugram, Haryana, India¹Research Scholar, Department of Economics, D.S.B. Campus Nainital, Kumaun University Nainital, Uttrakhand, India
2. Research Scholar, Department of Economics, D.S.B. Campus Nainital, Kumaun University Nainital, Uttrakhand, India
3. Assistant Professor, Department of Economics,D.S.B. Campus Nainital, Kumaun University Nainital,Uttrakhand, India
4. Professor, Department of Economics, D.S.B. Campus Nainital, Kumaun University Nainital,Uttrakhand, India

ABSTRACT

The COVID-19 pandemic was a massive shock for virtually all sectors of the Indian economy barring high-end services that could switch to online working mode. As contact-intensive sectors were forced to cut back operations, their employees and vendors suffered a loss of income. Against that backdrop, this study looks at the impact of the pandemic on the income, saving and consumption patterns of households within the Nainital district of Uttarakhand. Its principal finding is that while the overall household income has declined, average consumption has actually increased (though the change is not statistically significant). This suggests a possible rise in borrowing which could have adverse economic effects among households in the future.

Key words: Consumer behaviour, COVID-19, Saving pattern, Consumption expenditure, Income