After watching the video of the meeting broadcasted by TMC and reading the article on economic times, we can assume that the lockdown might extend for another two weeks.
Modi said that “the priority of the government is to save each and every life”.
But we need more weapons than just lockdown to fight with COVID-19.
Let’s read the opinion of Shekhar Gupta on Modi’s lockdown.
About three weeks back when India started testing selectively then they found that many people coming from overseas were tested positive along with their families that alarmed India to take such a massive action.
There was no major or widespread testing, India’s testing was very low compared to other countries ever lower than Pakistan which led to criticism.Shekhar Gupta
This Indian lockdown is the severest n the world, the economist carried a chart based on studied by a group in Oxford which ranked the countries on a severity index on their response to COVID-19.
India topped the chart in the world, while India topped the chart according to the intensity of the lockdown, on the other side India was at the bottom of the chart when it came to a fiscal stimulus for the economy in terms of percentage of GDP.
So in severity, India was even ahead of Italy but in fiscal stimulus, India was lowest which you can understand because in the entire group India was by far the poorest of all other countries.
In fact, the next poorest countries are China and Malaysia at five times per capita GDP than India.
India as it continues with the lockdown or extends it, it’s risky for the economy or our country. Though the upper or middle classes can overcome the lockdown, it’s the poor and farmers who will face difficulties as the engines of the economy have stopped. As many people live on daily wages for them the situation is critical, either not coronavirus hunger might kill them.
As Shekhar Gupta says unlike the US, India doesn’t have the ability to print money as Donald Trump is doing.
Let me explain, why
India follows a gold standard policy, under which every rupee is backed by a similar value of the gold reserve hence giving actual value to the piece of paper. On the other hand, almost all of the global trade happens over USD, as well as the US, being a resilient economy made it move away from Gold standards and instead make the ‘faith over the economy’ as it’s value driver.
What we need at this point now to find the major weapon or micro focus action and plan.
Major possibilities to control, are:
- Extend the lockdown
- Completely lift the lockdown
- Seal the hotspots and gradually lift the lockdown from other areas.
The third option might be a better option as some factories or companies will start fo work, like pharma factories which will again lead to commutation hence communication modes will start to operate but then the spreading of the virus can also spread faster.
So what’s your say in this, comment below. Let the nation know, citizen’s views.