Acceleration, accumulation,…rapid progression. Death swift and silent, unstymied. Thousands killed by the time you finish reading this article. No prisoners taken, there is no cure, a panacea? Only supportive healthcare services. Faces covered behind masks, a metre’s distance between two peeps, a fear unknown, unsullied pervades some ever diaphanous eyelids, the slightest note of a distant coughing, not failing to, but make every odd person’s pulse skyrocket. Is it? Am I? Will we? This is life…in Covid-19.
Co –Corona. Vi-Virus. D-Disease. 19-The year it was first discovered. COVID-19. Wasn’t until February that WHO coined in this term. The first detected case being in China on November 17, 2019. Failing to be retained despite the connivers. This deadly virus spread out, picking a country here, a household there till, it had most of the world under it’s vice like grip. The noose around the neck only tightening, the last breaths a savage expunge. Global salvos of Corona Virus triggering wholesale hysteria; for the worse.
To consider the direct effects of the virus alone, might be torpid. The bloodbath in the Indian share markets was the next thing coming. Plummeting share prices, every deal gone south, this was the worst Indian Stock Market crash since 2008. India’s growth in Q4 FY2020, going down to 3.1% as per government reports. According to latest FICCI reports, it’s Economic Survey projects the country’s annual median GDP growth for 2020-2021 at (-)4.5%. Startling, but true. Many companies have temporarily suspended or reduced their production. Young start-ups are choked as funding is cut off. FMGC companies have rather focused on bare essentials , than other goods. The Prime Minister announced an economic relief package on May 12 worth ₹20 lakh crore, 10% of India’s GDP on a focus to make India a self reliant nation.
140 million Indians have lost their jobs, unemployment rate peaking 26% before settling at 6.7% near mid-June. An excess of 45% Indian homes report an income drop YOY. Every day of the lockdown costing the Indian economy ₹32,000 crores. Supply chains suffered as movement of goods were hindered. Perishable commodities took a hit. RBI announced special relief packages to NABARD, SICBI, NHB to the tune of ₹50,000 crores.
Unlock 1 aimed at easing the financial severity and risk effect of the pandemic has proved to be of use. Nevertheless, the restrictions being lifted has caused a huge surge in the number of daily cases of Covid-19. As hospitals run out of beds and doctors work 18 hr shifts sans overtime pay, the situation is fanning out to be utterly disastrous.