CORONA and ECONOMY in India

There was an agreement in the G-20 meeting using video conferencing to put five trillion dollars to counter the social and economic effects of covid-19. The member countries decided to research together. It was decided to share the progress on vaccine and medicine with each other. There were discussions to increase the potential of research. Prime Minister Narendra Modi said that G-20 nations need to think about corona with humanitarian perspective. Modi even advocated to help those nations to fight covid-19 who are not members of G-20. Prime Minister pointed out the problems of poor and small nations. He said 90 percent corona cases are in G-20 nations and 88 percent corona deaths are in G-20 nations.

Indian Industrialists have come forward to help the Government to fight against covid-19. Some Industrialists have opened the doors of their treasury for the nation. Mukesh Ambani has established a hospital of 100 beds for corona patients. Reliance has announced to give free petrol to vehicles engaged in emergency services. Anand Mahindra has given his luxury resorts to the government to convert them into hospitals or quarantine wards. Mahindra said that its processing units are working to make ventilators.The working head of Vedanta has annouced to give 100 crore to fight against covid-19. This company is helping its employees and daily wage labourers. Six Sigma Healthcare has decided to convert its office into quarantine house. Company’s chairman has attached its staff to the team of central government.

Government has given relief to taxpayer. The last date for getting tax relief by investing has been shifted from 31 march to 30 june . Tax experts have said that it is a good reilief for taxpayers. It was not possible to invest till 31 march for many taxpayers because many banks are not working at their full potential. The time limit for most of the matters relating to corona has been increased. The taxpayers can avail the benefits of 80 C by investing in PPF, NSC, tax saving term deposit ,ELSS and other investment options.

According to care rating, Indian economy will get a loss of 40 thousand crore everyday during the 21 days period of lockdown. It is estimated that 80 percent output will be stopped. Only 20 percent output of necessary services and agriculture will continue.

Saving human life is more important than money. Lockdown has more advantages than disadvantages. Lockdown is necessary to break the chain of spread of covid-19. The decision of lockdown is justified on grounds of humanity and good health. There is reduction in pollutuion due to lockdown, this is the only good thing happening among the panic of covid-19. We should pray for the well being of health workers and police men who are risking their health for the country.

Vedant kabra.

You can whattsapp me on 8630600312. My email id is vedantkabra37@gmail.com

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