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CORONA VIRUS IMPACTED: HOW COVID-19 IMPACTS THE ECONOMY

covid-19
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WHAT IS CORONAVIRUS?

Coronavirus is a type of virus. There are many different kinds of disease. A newly identified type has caused the recent outbreak of ventilatory illness now called COVID-19. An outbreak of the corona virus in china is causing global concern. It came from a seafood and meat market in Wuhan, china in December 2019. It has since spread in other countries too. The world health organization (WHO) has declared this rapidly spreading corona virus outbreak a pandemic, and many countries are grappling with a rise in confirmed cases.

Most people infected with COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness. The COVID-19 virus spreads primarily through droplets of saliva and discharge from the nose when an infected person coughs and sneezes, so it’s important that you also practice respiratory etiquette. The best way to prevent and slow down transmission is be well informed about COVID-19 virus, the disease it causes and how it spread. Protect yourself and others from infection by washing your hands or using an alcohol-based rub frequently and no touching your face.

COVID-19 Symptoms

SYMPTOMS OF COVID-19:

It appears that symptoms are showing up in people within 14 days of exposure to the virus.

  • Cough
  • Fever
  • Shortness of breath

In rare cases, covid-19 can lead to severe respiratory problems, kindly failure or death. If you have a fever and any kind of respiratory difficulty such as coughing and shortness of breathing, call your doctor or health care provider and explain your symptoms over the phone before going to the doctor’s place, urgent care facility or emergency room.

At the time, there are no specific vaccines or treatment for covid-19. However, there are many ongoing clinic trials evaluating potential treatments. WHO will continue to provide updated as soon as clinical findings become available.

IMPACT OF CORONA VIRUS ON INDIAN ECONOMY

Corona virus chapter was first revealed in Wuhan, china 31st December 2019. Corona virus is a huge group of infection that causes aliment. It ranges from the basic virus to increasingly serious illnesses like middle east respiratory syndrome (MERS-COV) and severe acute respiratory syndrome (SARS-COV). The epic corona virus is another strain of infection that has not been distinguished in human up until now. India reported the first conformed case of corona virus infection on 30th January 2020 in Kerala. New confirm cases are being reported in multiple cities such as new Delhi, Mumbai, Bengaluru, Hyderabad and patina.

India has started implementing preventive masseurs to curb the spread of the disease. The prime minister of India requested all citizens to observe a nation-wide curfew or janta curfew on 22 march from 7am to 9pm. He urged people to not leave the house on that day unless for emergencies. He noted that the exercise would help in following social distancing in the coming weeks.

Potential coronavirus clusters in India: temples, religious tourism and wedding

ISKCON, one of the popular Hindu religious organization running temples that attract foreign devotees, is reported to have advised foreigners from the corona virus affected counties not to visit for two months, as a precautionary measure. One more potential corona virus cluster in India is a wedding where the average guest counts run from few hundreds to more than thousands. All the cluster has been prohibited in India.

COVID-19 effects on Stock

Huge impact of corona virus to the Indian economy

India is already slowing the economy weakened to at least eight years low this quarter and will slow even more sharply in the next six months due to the corona virus pandemic, a Reuters poll found. With virus spreading rapidly, prime minister Narendra Modi announced a three-week nationwide lock-down on Tuesday which will have a huge detrimental impact on business. India’s informal sector, the backbone of the Indian economy, will be hardest hit as economic activities comes to standstill. The Indian economy is bracing for the fallout from this unprecedented event. We accept the lock-down to dramatically reduce GDP in subsequent quarter, while there will be prolonged economic gloom throughout the rest of the year.

According to the Reuters poll of economists taken march 25-26, India’s economy will expand just 4.0% annually on a year ago in the quarter that ends on march 31, the weakest since comparable records began in early 2012. That is also slower than 4.7% recorded in the last three months of 2019. The economy was forecast to grow 2.0% next quarter and 3.3% in the July-September quarter. The economy was forecast to grow by a median 0.5% in April-June, with one economic predicting a 20% contraction.

For the current fiscal year, economic growth was forecast to average 4.7% and then slow sharply next fiscal year to 3.6%. its most lackluster rate since the global financial crises. While that already shows the grim outlook and how quickly the corona virus led economic hit is becoming clear, economist said growth would be much weaker than currently predicted if the situations worsen.

India on Thursday announced a 1.7 trillion rupees economic stimulus plan that will be released through direct cash transfers and a food security measure aimed at giving relief to millions of poor hits by the nationwide lock-down.

As much as 53% of Indian businesses have indicated a marked impact of covid-19 on business operations. Around 42% of the respondents said that it could take up to three months of normalcy to return, added the survey. Along these lines, we can say that because of the present episode of coronavirus in China, the import reliance on China will significantly affect the Indian business.
As far as fare, China is India’s third biggest fare accomplice and records for around 5% share. The effect may bring about the accompanying segments to be specific natural synthetic substances, plastics, fish items, cotton, minerals, and so on.

As indicated by CLSA report, pharma, synthetic substances, and hardware organizations may confront store network issues and costs will go up by 10 percent. The report additionally says that India could likewise be a recipient of positive streams since it seems, by all accounts, to be the least-affected market. A few wares like metals, upstream and downstream oil organizations, could observer the effect of lower worldwide interest affecting ware costs.

Stock decreasing

the division insightful effect on Indian industry:

    • Compound industry
    • Vehicle industry
    • Pharmaceuticals industry
    • Materials industry
    • Sun oriented power sectors
    • Hardware industry
    • Travel industry
    • IT industry
    • Textile industry
    • Diamond industry
    • Shipping industry
    • Chemical industry
  1. Compound industry: It was discovered that 20% of the creation has been affected because of the disturbance in crude material stockpile. China is a significant provider of Indigo that is required for denim. Business in India is probably going to get influenced so individuals making sure about their provisions. Be that as it may, it is a chance. US and EU will attempt to expand their business sectors. A portion of the business can be redirected to India which can likewise be exploited.
  2. Vehicle industry: Its effect on Indian organizations will differ and rely on the degree of the business with China. China’s business no uncertainty is influenced. In any case, current degrees of the stock appear to be adequate for the Indian business. In the event that the shutdown in China proceeds, at that point it is relied upon to bring about a 8-10% constriction of Indian vehicle producing in 2020.
  3. Pharmaceuticals industry: Despite being one of the top plans of medication exporters on the planet, the pharma business of India depends vigorously on import as of mass medications. Due to the coronavirus episode, it will likewise be affected.
  4. Materials Industry: Due to coronavirus flare-up, a few articles of clothing/material manufacturing plants in China have stopped activities that thus influencing the fares of texture, yarn and other crude materials from India.
  5. Sun oriented Power Sector: Indian engineers may confront some deficit of crude materials required in sun powered boards/cells and restricted stocks from China.
  6. Hardware Industry: The significant provider is China in gadgets being a last item or crude material utilized in the electronic business. India’s electronic industry may confront supply interruptions, creation, decrease sway on item costs because of overwhelming reliance on gadgets part supply legitimately or in a roundabout way and nearby assembling.
  7. Travel industry: Due to the coronavirus flare-up, the inflow of vacationers from China and from other East Asian areas to India will lose that will affect the travel industry segment and income.
  8. IT Industry: The New Year occasions in China has been stretched out due to coronavirus flare-up that antagonistically affected the income and development of Indian IT organizations.
  9. Textiles Industry: Due to coronavirus outbreak, several garments/textile factories in China have halted operations that in turn affecting the exports of fabric, yarn and other raw materials from India.

So, now you may have come to know about coronavirus. An outbreak of COVID-19 impacted the whole world and has been felt across industries. World’s second-largest economy China became standstill. Its outbreak is declared as a national emergency by the World Health Organization. In India, the impact may felt through supply chain disruptions from China and also as regional players, who imports from China.

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      Lavada Vilkoski
      Apr 10, 2020 11:21 am Reply

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