Govinda Rao: This is the mother of all challenges in recent memory. The International Monetary Fund (IMF) says that the 2008 financial crisis comes close, but I think this is much bigger than that. Possibly, one has to go to the times of the Great Depression. Even qualitatively, it’s a very different challenge, because first you have to save lives, then you have to save livelihoods, then you have to meet with other costs like loss of jobs and production, and supply chain disruptions. It’s not just confined to one sector or country; it encompasses the entire economy and the world. So, I think there is no immediate policy instrument that you can put in place because you don’t even know how long the problem will last. The depth of the problem that you are going to face is dependent on the length of the period for which you are going to close down and the extent to which the virus spreads. … [Read more...] about How can India contain the economic impact of COVID-19?
Social impacts of earthquakes
By Badri Narayanan Gopalakrishnan and Sumathi Lalapet ChakravarthyNew Delhi:While China shuts down its last makeshift coronavirus hospital, the world endures a bigger challenge as the pandemic is rampaging to every continent on the planet at a speed greater than the light. Based on the John Hopkins coronavirus tracker, the novel virus COVID-19 has spread to an unprecedented 175 countries as of March 27, 2020. The world is grappling with uncertainties and several countries have imposed restrictions that would severely impact the economic activities not just for now, but for a prolonged period of time.India still shows hope in terms of the spread of the infections and reporting a lower number of deaths. It remains one of the least impacted among the highly populous countries at present; there are just about 0.39 cases per million people: negligible in comparison with a staggering 1350 cases per million Italians or 258 cases per million Americans. The timely decline in oil prices, shall … [Read more...] about Opinion: Covid-19 impact on Indian economy and the auto industry – What’s ahead of us?
NEW DELHI: As the city remains under preventive lockdown, Delhi discoms have stopped meter reading and physical distribution of electricity bills, the distribution companies under BSES said in a statement on Friday.“On account of the enhanced containment measures and on account of the safety of our consumers and employees, all physical distribution of bills and meter reading is being stopped till further notice. Consumers will be given provisional bills, on the basis of the DERC’s laid down criteria,” a BSES spokesperson said on Friday.The company, which has two discoms BYPL and BRPL under it, has also stalled some services in the wake of the preventive lockdown due to the coronavirus pandemic.“In support of the government’s measures to contain the spread of the COVID 19, some of our services have been curtailed. We would not be registering requests for new connections till further orders. All existing appointments are also being postponed till further … [Read more...] about Lockdown impact: Delhi discoms stop meter reading, physical distribution of electricity bills
Inder Mohan Bhalla can barely contain his agitation when he talks about where the nationwide lockdown leaves the country’s senior citizens. The 75-year-old national president of All India Senior Citizens’ Confederation clarifies that while he is healthy, owns a vehicle and lives with his son in Hyderabad, similar comforts are not common among most of the country’s population above 60 years. As the spokesperson of a 2.2 million-strong organisation representing them, Bhalla is outraged that the lockdown has not made provisions for the elderly who are living alone. “What happens to those who are over 80 years of age and cannot step out to buy essential goods? Without autos or cabs, how will even those who are able to leave their house be able to go and get their medicines?” Bhalla’s agitation is not misplaced. In some ways, the whole world is united in the fight against Covid-19. But the reality is that some are more vulnerable to infection than … [Read more...] about Covid-19: Why social distancing is a big worry for senior citizens
Mayor Susan Rennie said the package would focus on the most vulnerable in the community "including those at risk of experiencing homelessness, domestic violence, and people from diverse backgrounds, Aboriginal community members and older people living alone without support". … [Read more...] about Victoria Police to issue fines for breaking coronavirus social distancing rules as cases climb to 685