TODAY'S ECONOMY
The lockdown due to the COVID-19 pandemic is having a drastic effect on our economy. Many acclaimed economists have also said that this pandemic's impact on the economy is worst seen in the past 50 years even worse than the 2008 recession.
All the companies are shut only a few like software-based, media-based can continue with work. The unemployment rose from 6.7% to 26% within a month of lockdown. Within 21 days of lockdown Indian economy has lost about 30,000 crore Rupees. But still, the foolish decision of the Indian government of providing salaries of government employees is having even worst impact on our economy.
Though the government is providing relaxation of Rs. 15000/citizen of the country but we still don't know how much impact will it have on society.
International Monetary Fund blames India for the 80% slowdown in the world's economy. Under the Modi Government, India has seen the worst economic crisis ever seen since independence.
Though the Modi government has launched great schemes like Skill India it is hardly able to make any changes in the country due to improper implementation of it.
Trade Wars:-
Currently, Trade wars between America and China are also going on so this gave opportunities to many countries to bring production in their country which would lead increase in their economy and generate employment but India lost this opportunity while countries like Vietnam and Bangladesh took advantage of it.
What can we do now?
The government should increase fundings in PM - KISAN and MNREGA to provide low-cost food and services to poor people in villages.
All the benefits are given to Government employees must be taken away from them because in this pandemic everyone is suffering and no unnecessary benefits should be given to them as all those benefits are of public money it will lead to drastic fall in the economy.
International Monetary Fund blames India for the 80% slowdown in the world's economy. Under the Modi Government, India has seen the worst economic crisis ever seen since independence.
Though the Modi government has launched great schemes like Skill India it is hardly able to make any changes in the country due to improper implementation of it.
Trade Wars:-
Currently, Trade wars between America and China are also going on so this gave opportunities to many countries to bring production in their country which would lead increase in their economy and generate employment but India lost this opportunity while countries like Vietnam and Bangladesh took advantage of it.
What can we do now?
The government should increase fundings in PM - KISAN and MNREGA to provide low-cost food and services to poor people in villages.
All the benefits are given to Government employees must be taken away from them because in this pandemic everyone is suffering and no unnecessary benefits should be given to them as all those benefits are of public money it will lead to drastic fall in the economy.
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