Skip to main content

Posts

Showing posts with the label India economy

India’s Covid-19 problem is now the world’s problem

Leaders and scientists need to figure out what should be done to combat variants of the virus. It will be a while before it’s fully understood why  India  has been so swiftly and so disastrously engulfed by the coronavirus. But there is one thing for sure: India’s problem is now the world’s problem. India shut down too abruptly when the virus arrived, and then was too quick to reopen. In March 2020, the country was locked down at four hours’ notice though it did not yet have many cases. Millions of people, many of them migrant workers, were left stranded without food and shelter. Facing economic disaster, the government reopened the country before the pandemic really took hold. What is happening in India now is quite similar to what the United States experienced in its coronavirus surges. The Indian states where deaths started to mount again in March and April simply closed their eyes and hoped it would go away. After all, India’s first virus wave receded, for reasons that rem...

RBI governor to make unscheduled speech at 10am as Covid devastates India

  Central bank had last year announced a series of measures to support the economy suffering the impact of a nationwide lockdown Reserve Bank of India Governor Shaktikanta Das will make an unscheduled speech at 10 am today, Wednesday, as a new coronavirus wave threatens a nascent economic recovery. The address will be broadcast at 10am local time, the RBI said on Twitter. It didn’t elaborate. A team at the Indian Institute of Science in Bangalore used a mathematical model to predict about 404,000 deaths will occur by June 11 if current trends continue. A model from the Institute for Health Metrics and Evaluation at the University of Washington forecast 1,018,879 deaths by the end of July, Bloomberg reported. India on Tuesday recorded 33,491 new  coronavirus cases  to take its count to 3,447,133. With 3,449 new fatalities, its Covid-19 death toll reached 222,408. Congress leader Rahul Gandhi has said the central government should impose a “full lockdown” to slow down the c...