IMPACT OF COVID-19 ON SAVINGS PATTERN

Abstract

The catastrophic COVID-19 outbreak wreaked devastation on people all around the world. Lockdown disrupted all economic activity, and many people went days without eating a complete square of food. Many migrant workers, especially those working for private sector businesses, were forced to abandon their employment or accept lower wages or go without compensation. Individuals' savings were depleted as a result of the income decline since they used their savings to cover expenses during the epidemic. They were compelled to flee their homes without any protection or safety. Therefore, this study is being conducted to evaluate the income, savings, and investment behaviours of persons working for private sector enterprises in the fields of education, transportation, and telecommunication during the pre-COVID-19 and post-unlock periods.