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Corona Would Go; We Won't

BANKING FINANCE

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June 2020

"Tough times don't last, tough people do"

- Deepak Goyal

Corona Would Go; We Won't

There is no denying the fact that the whole world is currently passing through an unprecedented crisis due to the widespread outbreak of coronavirus. Never before we had witnessed a pandemic of such magnitude which has ravaged the industries and economies all around the globe in one go. The ongoing crisis has resulted into production losses to the extent of recession gradually culminating into job losses, wage cuts and retrenchments. The crisis is deepening further and nobody knows how graver the situation will become and how long this all will continue.

Amid this entire crisis situation, China, the originating country of the pandemic, gives us a glimmer of hope with Wuhan, the epicentre of the pandemic limping back to normalcy. But, the picture is quite opposite in rest of the world where the number of coronavirus infected people is growing exponentially with each passing day. Be it developed, underdeveloped, or developing country, everywhere casualties due to coronavirus are on the rise. Even the heads of different countries had to be quarantined, for example, the British prime minister had to be admitted to ICU. The situation continues to be grim and lockdown has been imposed in almost every country. Still there seems to be no respite in sight due to unavailability of any vaccine as of now!

Anticipating the magnitude of the problem, the Central government, as well as the state governments have already taken several pre-emptive steps to curtail the spread of the virus. For this purpose, initially, a three-week lockdown was imposed in the country, now the lockdown is being further extended. Several states have extended their lockdown period to another 15 days.

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