We used to dream in our life. Dream is not only which we see in night but dreams are those also which we chase even in day also. For example, Central Govt is dreaming to make India a 5 trillion dollar economy by 2024. China has almost become number 1 economy ahead of us. Achieving any status in economy needs sustained growth. Current rate of economy is between 6 to 7%. Presently Indian economy is approx..2.7 trillion dollars and it need to grow @9% approx.for next few years to become 5 trillion economy.
There are several factors which disturb the sustainability of growth. Apart from other factors one new factor entered recently which disturbed the economic growth is COVID-19. It has now entered in India too COVID-19 has already effected more than 85 countries and still continued. At global level more 98,000 cases have been confirmed with more than 3300 deaths. China was already engaged in trade war with USA causing slow down in growth, COVID-19 is putting further brakes on China's economy. Economists are expecting that COVID-19 may pull China’s growth rate from 6% to 4.5% in current quarter. This would be the slowest pace since the financial crisis.
China is major supplier of raw materials, electrical & electronic goods to the world. Few parts of it being under lock-down, supply chain have been disrupted. Major stock exchanges have already come down. Rates of some essential supplies are going up. Only manufacturing sector is not effected with this virus rather travel, entertainment, education etc are also got slow. Therefore, companies are expecting slow growth rate and lower profit margin.
How virus hits Economy-News of virus spreading creates fear in human being. As a result, people avoids going to restaurants, tourist places, movies, picnics business meeting, seminars etc. It results into lower income to these sectors. As a result, income of people associated in these sectors get down and spending's also becomes low. Banks faces default risk of their loans and advances. Supply chain disruptions makes it difficult for manufacturers to get raw materials and spare parts. It may cause retailers to go out of stock with nothing to sell.
Effects on India- More than 30 cases has been confirmed in India including bunch of persons came from Italy. Confirmed cases have been reported from Kerala, NCR, Telangana, Rajasthan & Karnatka. In most of the cases persons returning from abroad have been found infected. India is hub of religious tourism. Crores of devotees from different parts of world visit India to experience divinity through spirituality. As a precautionary measure, few of religious spiritual organisations have advised foreigner devotees from the coronavirus affected countries not to visit for two months. Metro train authorities are also taking precautionary measure and facilities are being disinfected.
DGCI has granted approval to ICMR to use combination of lopinavir and ritonavir in coronavirus outbreak. This therapy is used for treatment of HIV. Indian Govt. is in action mode and taken number of steps like cancelling visas of foreign nationals of effective areas. DGCI has been instructed to restrict the export of 13 APIs and formulations. Various enforcement agencies has been advised to ensure sufficient stock of API,s and restrict the black marketing. Since most of the API,s are manufactured in Hubei China, so there production was stopped. Now good news is that part of them have resumed production. Hopefully supply chain will also resume soon. Adequate arrangement for scanning has been done at airports & sea ports. Till now 16 laboratories are equipped for testing COVID-19 and 19 more will be operational soon.
What Should We do - Don’t panic. I would like refer one statement of Bhagwan Sathya Sai Baba here-
“It is man alone who is subject to the most health-related trouble. A number of human diseases are on the increase. The reason is that man does not like to partake of food as God created it
In present time humanity have measure threat from human itself. We have seen many threats in past and will confidentially handle it also. Just take following precautions:-
1- Wash hands regularly with soap and running water (preferably hot water) or use sanitizer.
2- Cover your mouth and nose while coughing and sneezing.
3- Maintain a distance of 1 metre (3 feet) with anyone showing symptoms of respiratory illness.
4- Avoid touching or shaking hands with a person.
5- Avoid unnecessary contact with animals too and wash hands after touching animals.
6- Do not touch your face, especially eyes, nose, and mouth as your hands may have touched a contaminated
surface.
7- Stay at home if feeling unwell and avoid travel.
8- Instill two drops of sesame oil in each nostril every morning to keep the nostrils lubricated and free of
impurities.
9- It is suggested to take the following preventive supplements daily: Vitamn-C, Vitamin D3, magnesium, zinc,
selenium.
Golden rule is to keep healthy life style, proper diet, exercise in fresh air and exposure to sunlight to keep immunity up. Do regular prayers for the wellbeing of all.
By above practices keep coronavirus away from you. Many cases have been cured and remaining will also be cured soon. So have patience and focus on our core operational area so that we may achieve the vision of 5 trillion economies by target date.
Abbrevations used
DGCI- Drug Controller General of India
ICMR- Indian Council of Medical Research
API- Active Pharmaceutical Ingredients (APIs)
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