With over 10 lakh confirmed cases half lakh deaths as of now worldwide, the world is experiencing its worst period in a century. Experts suggest that the numbers will increase soon. All the countries around the globe have confirmed cases of Corona in their nations. Almost half the countries have declared a complete shut-down in their countries, as WHO have suggested that the best way to fight Corona is with social distancing.
But let’s focus on our own country first. The first Corona case in our country was reported on 30th January and till now over 2 thousand have been confirmed with Covid-19 virus, and over 56 have lost their lives to Corona. On 22nd March, on the request of our dear Prime Minister, the citizens of India observed a Janta Curfew and also thanked the warriors of Corona virus in India. This might look like a waste to many people, but it helped the doctors, nurses, para-medics, police personals and all the other people working in these tough situations.
A day later to Janta Curfew, Modi Ji declared a complete 21-days shutdown in India starting from 24th March with bar on sale of life necessary items. Frankly speaking, I appreciate this decision, because social-distancing is best way to prevent the spread of Corona virus. Developed countries like USA and UK wasted a lot time by not taking a call on shut-down, but in India, we have a different situation. With a lot time in hand, India took the required necessary steps. Doctors in USA said it’s too late for lock down in their country, as USA is on the peak of chart having Corona confirmed cases.
In India we have a complete lockdown, may it be train, flights, state-transport, public & private transport, etc. This is just about transport, other shops, hotels, restaurants, bars, all are also closed. The entire retail sale in India is at halt except life-necessary stuff like medicines, groceries, vegetables, food-grains, fuels, etc.
Everything we buy helps the government in raising funds through the payments of taxes. Not just the common public at retail, but buying and selling of stuff at every step starting from purchase of raw material by producer to the purchase of complete product by the customer contributes in raising funds for government. This also includes the tax paid on the logistics and transport of the goods from one location to another location. Not just the government, but many people earn money in between this sale. It includes the producer, distributor and retailer. These people earn income through the margin of profit between the purchase and sale of products. Also the lower class people working under them earn their wages on daily or monthly basis. No one in this chain is now earning as mostly all retailer sellers have closed their outlets in this shutdown.
The government also raises funds through different taxes levied upon use of various transport like Railways, Airways, Road transport, etc. Not just the government but various people have their daily earning dependent upon these things like the vendors we see while traveling in trains, the cleaning staff working on trains, the staff of flights, the people working in travel agencies, etc. All these peoples are also not able to earn as government have put a bar on the transport throughout the country. The government used to generate revenue through foreign investment by the different taxes applied upon the visas. Also the duties applied upon the import and export of products contributes in raising funds. So the government is also not able to earn much these days due to the lock down.
All the hotels, restaurants, tourists places are also closed in this shutdown. Though the hotels are working, they are only allowed to deliver the food on the doors of people. The people are not allowed to visit a hotel and enjoy their food over there. The people who are dependent on these things for their income are also not earning. Imagine the table attendants, to whom we call chotu or bhaiya are not earning these days. The shop keepers and guides present at all the tourist spots are also not earning these days. So is the case with government.
Not just these people, but others who work on daily bases at small industries and construction sites are also not earning these days. The other sect of people including footpath vendors are also not earning these days. So is the condition with migrant labors and workers who don’t even have a rupee in their wallets due to current situation. Since there is shutdown on transport, they are not even able to go to their villages to where they belong. Though the government has advised their employers to pay them their minimum wages, but remember, they have only been ADVISED to do so.
So the government is now earning a penny of what they earn during normal times. Plus they are now supposed to unplanned and unexpected money on the medical expenses of state. Also add the living facilities the state is providing to the migrant workers and other people who are unable to earn these days. Also include the upcoming policies which government will introduce now for betterment of the people low in the income earning chart.
Note the economic slowdown of India since Q1 of 2019, the economic recession we were (are) facing, the mass firing of employees, the high unemployment rate…..well the list of factors which indicate the bad position of Indian economy will go on. So the Indian economy which was already facing its worst time by earning low, have to lower their earning due to Corona and to put salt on wounds, we have to pay and feed our very own patients and needy from our economy. Though the government is trying its best to earn by generating various kinds of funds like PM relief fund, CM relief fund of various states. Also many NGO’s and private organizations are organizing relief camps and providing food for the needy ones. This will definitely lower the burden by little over our economy.
Let’s just get a hint about the aftermath of Corona on our economy. Remember the ‘Turtle-walk’ of Indian economy after the demonetization of 2016, due to the low supply and running of money in the market. We will be facing similar or worse conditions after this attack of Covid-19. But this time not only India but all the countries around the globe will be facing the stroke of Corona.
Views are personal.
keep good writing !... the economy will automatically take care of itself - after the recycle of recesion !:)