New Lockdown Crisis 2021 In India
In this present scenario, due to the Covid-19, the majority of the masses face numerous obstacles. These obstacles are related to expenditure, work, and employment. Owing to the Covid-19, most of the masses lost their life, and some masses lost their jobs and became unemployed. As the cases of Covid-19 surged in 2020, the government implied the lockdown on the whole nation. During the lockdown period, shopkeepers had to shut down their shops, educational institutes all were closed.
Apart from it, different countries have different meanings of the lockdown. However, in India, lockdown affects the Indian economy. It slows the growth of the economy. Over time, lockdown becomes a tragedy for the nation, and most of the masses enter into the phase of depression. After that, countries implemented several rules. These rules are related to quarantine, social distance, control on the social gathering, and so on.
Apart from it, the data explained by the OECD Economic outlook, Interim Report March 2021, revealed that the GDP value of the Indian’s economy, specifically for the fourth quarter of 2021, will be lower than the 7.8 percentile. It will be lower as compared to the pre-pandemic estimations of the organizations.
There are changes of -3.8 for the European Union and -1 for china. Moreover, in the case of the United States, the figure is estimated at 0.2%. In addition to it, the striking feature about this is that it is more significant as compared to the actual estimation.
The notable thing is that Union Government revealed the dramatic growth of India after the time of lockdown. They compare the development of India with the “V-Shaped growth”. Apart from it, experts also suggested that India can require time to get back on the right track and recover all the losses in the economy.
Apart from it, lockdown also has an impact in several ways. The effect does not only observe in the economy but also in the life of the masses. Here is the list of some information related to it.
- After the lockdown, there is a surge in the cases of mental illness in India. It is surged by 20%.
- By the local and community bases replies states about the capability of India to deal with the unfolding crisis.
In addition to it, there are several reasons behind mental illness. These reasons are unemployment, alcohol abuse, domestic violence, economic hardship, and so on. Different cities in India face various issues because of the lockdown. At present, the cases of Covid-19 also surges. The majority of masses are affected by it and undergo treatments. On the other side, some are in their quarantine period.
Due to the second wave of coronavirus, investors have the stress of economic recovery. It is because this second wave is more dangerous or worse. In addition to it, the stocks slump up to 3/5% because of the chances of lockdown. The stock market also faced a slump due to the Sensex. It falls to 48,000.