Purchases will come down. The travel industry will also be suffering a lot. Only health services and related fields are doing good business and getting money. Even industries productivity also has come down. With all this definitely, there will be a slowdown in the financial front also.
K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
In the coming days, price-hike of every item is inevitable because our economy is still in the minus and I don't hope to get it back in near future. When coronavirus is over I assume that millions of middle-class people will go below the poverty line. Employment will decrease further. According to P.P. Vajpai, a former employee of Aaj Tak and other channels, the central government has given 8,87,335 jobs in 7 years, it means less than 9 lac central government jobs were provided. This is the least number of employment since independence.
I think the same can be applied to the present situation. The first quantum of lockdown was sudden and totally unexpected and we were unprepared for that. It went beyond our 'short-time'expectation. As the governments were also facing such a situation for first time, they di not have a precedent on how to go about it. Remedial measures could not be taken well in time and in sufficient measure.So the pinch was felt by everyone.
But this time everyone is experienced on the difficulties. Governments were also better prepared to face things. Assistance and help came better than last time. The lockdown restrictions are not so total and stringent as last time. People also had learned to live by the situation. The panic reaction by migrant labours in comparison to last occasion, is almost absent. All this made us feel that the current lockdown situation is not as harsh as last time.
However economy is still affected as many sectors are still not open or not fully functioning. But we have learned resilience and survival and so let us hope that and work hard that we will soon build back the economy and lives to normal very soon itself. Let us pray too.
Knowledge is power.