AFTER COVID19 -
After this huge pandemic came to India more than 140 million people lost their work and income.
Till date more than 14000 cases are increasing everyday in india and more than 54% private businesses have been shut downed.
Prime Minister Narendra Modi has launched package of 20lack crores which include many relief schemes for those who lost their jobs, whose startup fell down and also for those labors and workers who migrated back to their hometown after losing their jobs and homes.
Even the biggest companies of India like TATA, BHEL and ADITYA BIRLA has reduced their production because of fewer demands and economical strains.
Government is also failing to generate revenue as sources like revenue from tourism, export-import trade have almost stopped and unemployment is increasing day by day which resulted in less tax collection.
All e-commerce sites were shut down during first 3 phases of lock down and which gave them huge loss. All public cinemas and sports centers are stil closed which were a good tax source for government.
CONCLUSION -
After every possible effort done to boost economy even during this complex situation by government the Indian Economy is going down day by day. GDP is shrinking constantly even almost all buisnesses were resumed after 3rd phase of lock down.
Even economy can be more affected after disturbed Indochina trade relations.
Government is focusing more on to provide better medical facilities and treatment to Ovid affected people (which must be its first priority) by ignoring local disturbed economy.
Many factories are unable to increase their work production because they are now facing shortage of labor.
SOLUTION -
Every Indian needs to support each other as Indian Government is asking everyone to help the local traders and manufactures by giving the slogan ‘vocal about local’.
Many developed failed to fight with Covid19 but Indian government is still haven't lost the hope and now it is our duty to push our economy.
NO government can not do everything alone because it's the first time for everyone in this world who is dealing with such medical and economic crisis.
Government is asking people to purchase all the locally made products and goods which is a great initiative.
It's time to get united and support each other to avoid future economic pressures.