Coronavirus has declared a global pandemic as the spreads rapidly across the World wide. The global finance impact of COVID-19 is very bad.
The Virus COVID-19 is spreading quickly around the whole World. Governments, businesses, and families respond to the pandemic in unprecedented ways, massively and necessarily disrupting the economy in the process.
While the Indian economy not recovered itself with the moratorium at Yes Bank and a sharp collapse in oil prices has boosted unpredictability, leading to a further slowdown of economic activity, there another side COVID-19 destroyed INDIAN as well as a global economy.
Also, there are now impositions and restrictions on trade, travel and there is lockdown everywhere.
There are around more than 3,58,000 people were infected with this horrible Virus known as COVID-19 or CORONA VIRUS and not exactly data but it’s around 15427 people were killed by this virus globally.
According to Govt. of India:
Passengers screened at the airport – 15,17,327
Confirmed COVID-19 cases – 415
Cured/Discharged/ Migrated cases – 24
Death cases – 7
The Government of India is taking all necessary steps to recover from this virus trying to stop it on the second stage. But it all can be possible with the active support of the Indian citizens; we all can stop to spread this virus in our India.
In India, almost foreign travel has been cancelled across the World and another side domestic travel is restricted to need basis.
According to Government of India, citizens is to avoid travel in crowded areas and employees are being encouraged to work from home.
Some offices are working with its alternative staff, which affects poor output and undoubtedly an impact on INDIAN ECONOMY.
The timing of the banking sector is till 31st March, 2020 is from 10 a.m. to 2 p.m., hotels, restaurants, gyms, swimming pools and all shops except daily need products (chemist, grocery and dairy products).
These are a very tough time for small and medium-size businessmen to survive in the recession period.
Anything related to services will also take a hit, like airports, toll roads, utilities and so on. An unintended victim of this virus was poultry consumption, which has fallen by Rs. 1,500-2,000 crore per day.
In general, the service sector of Indian economy is completely destroyed. Airlines and Banking sector are cut the working hours of their staff. Hotels and restaurants are closed.
There is very adverse affect on Indian stock market.
Sensex and Nifty goes downward day by day in NSE and BSE.
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