There are several economic challenges faced by India due to the ongoing COVID-19 pandemic. These include:

• Loss of jobs and reduction in income for a significant portion of the population
• Decline in demand for goods and services, resulting in a slowdown of economic activity
• Disruption in supply chains and logistical operations, leading to a shortage of essential goods and services
• Decrease in foreign investments and exports, impacting the foreign exchange reserves of the country
• Increase in government expenditure to provide relief measures to the affected population and support the healthcare system

These challenges have had a severe impact on India's economy, with a significant reduction in GDP growth rate and a rise in inflation. The government has implemented various measures such as stimulus packages, financial aid to businesses, and regulatory changes to mitigate the impact of the pandemic on the economy.