For the past few years, the Indian economy has been on a downward ride. The government hasn’t experienced such a dark period for a long time and is having a hard time steering through these unchartered waters. The COVID-19 that has become a significant blow to the whole world, brought the Indian economy to a new low. The already declining economy, coupled with the virus’s forces, made a double fist hit on the Indian lives.The decline in the number of investments, along with increased debt were the prominent contributors to the loss in the economic growth momentum. At this rate, the demand for depression in India would cause a recession that affects the unorganized sector and semiskilled jobholders losing their employment. According to the Ministry of Statistics, the economic growth of India in the last quarter of the year had been reduced to a mere 3.1%. In mid-May, the Indian GDP was seen to take a deeper plunge into the negatives even after the announcement of the economic package. The unemployment rate in mid-March was seen to have gone through a steep 19.3% rise by April half. Many people who hadn’t lost their employment still suffered with a considerable chunk of their pays cut down. Many companies that played an essential role in the country’s finances like the Tata Motors, Bharat Forge, UltraTech Cement, Aditya Birla Group, BHEL, etc. have temporarily suspended or reduced their activities to stay afloat in this crucial period. The young startups had a more tragic story to say, as they had to face severe pressure from different sides with diminished funding available. The lockdown period was a period of terror to many, as they found those times to be a time with usual spending and zero earnings. A truly frightening perspective to the mass, when the purse keeps getting emptied and not replaced.India had a different approach towards tackling the virus. During one of his addresses to the nation, Prime Minister Narendra Modi said that “Jaan hai toh jahaan hai” (transl. Only if there is life there will be livelihood). Edelman Trust Barometer conducted a poll around the world and determined that 67% of the world’s population had the same opinion about the government prioritizing human lives rather than the economy. But, the fact remains that the economy cannot be dismissed that easily. A good economy is a vital component in sustaining a healthy human living environment. All the countries in the world are struggling to strike a balance between these two components. Although the Indian economy has been taking on blow after blow, the government’s decision to prioritize the human lives has acted as a great morale booster that could later contribute to the financial situation.Our country might take a few years to get back in gear at the current rate of progress. We have already changed tactics and our mode of approach to the issue since COVID, but it may not seem enough. It is high time that we move onto more competitiveness-enhancing techniques to better ourselves. A K -shaped economic growth is predicted for the case of India. With the right strategies executed at the right time, we will get back on track in no time.