COVID 2019 : Impact & Strategies

Description

The recent Outbreak of COVID 2019, a Pandemic in a sort has affected Human beings on the Earth in a Shock beyond repair. Human Life never before in the history of mankind has seen such a worst phase of his life in the Year 2019 and is still continues in 2020 and only GOD knows how long it will continue in future.  Researchers, Scholars are pursuing and finding the cause, source and origin and solution for COVID to the best of their knowledge, belief, experience and ability. Let us hope for a better and positive outcome at the earliest which will safeguard and benefit mankind over a period of time.

The purpose of this Article is to assess and evaluate impact of COVID 2019 on human life and strategies to counter the situation and problems arising out of severe effects of COVID 2019 in a greater detail on the basis of following Parameters or criteria’s:

1) Economic Impact: The major effect or Impact of COVID 2019 is on Overall economy of the Country. Lockdown since March 2020 end has stalled and halted the economic progress and functioning of economy to a Standstill. The manufacturing and service sector is under lockdown process except for essential services and medical services. No production of goods and services, no demand and no supply of goods and services during lockdown period. The overall economic circle is not complete and money is not moving from one hand to other. GDP (Gross Domestic Product), a measure of National Income and well-known parameter of economic progress of a country is at its low. Per Capita Income of an Individual and consumption ability (Purchasing Power) of an Individual (especially of lower poor class people) has declined. Corporate performance of companies and entities including MSME sector is at their lifetime lows. Financial assistance by Central Government to various State Governments which do not have a source of income during this lockdown period is of vital importance and need of the hour.

The effective strategies to counter economic slowdown include lifting of lockdown in a phased and systematic manner in select Industries observing strict social distancing norms and safe handling of manpower in Industrial activities. A stimulus economic package and financial assistance by the Government to Industries revival and effective implementation thereof is a key to success for economic revival in a slow and steady manner. Effective Fiscal and Monetary policies by the Finance Ministry and Reserve Bank of India shall play a vital role in economic revival at a faster pace. Make in India Movement including Atmanirbhar Bharat Movement will definitely boost Indian manufacturing sector generating employment opportunities to Young India.

2) Social Impact: There will be a major Social Impact of COVID 2019 over a long period of time. The social behaviour of individuals in a Society will change drastically. Social Distancing will be a buzz word, use of masks and sanitization will be a new way of Life. This will help and imbibe a self-discipline among the citizens. A trend towards major expenses on marriages and other ceremonies will be curtailed.  Major social gatherings will be avoided. The social mindset will change. Society include Children, Young adults and Old aged people. Educational institutions will strive for a Online Education system, Online Universities and distant education will be a new way of life for students. Children will stay away from Ground realities meaning they will be deprived from playing on ground like cricket, football games. Online games will be replaced with ground games. To some extent, due to unemployment, some people will shift towards criminal activities. There will be a cause of concern for Old age people due to COVID 2019 and direct effects thereof. Medical expenses will soar drastically. Citizens to follow Central and State Government directives to overcome COVID 2019 and for smooth functioning of normal life of Individuals. Work from Home (WFH) will be a new style of workplace and work environment.

3) Technological Impact: Technology will play a major role and shall be in driver’s seat in coming years. Automation, Robotics and Artificial intelligence will play a key role. Work culture will change. Self-driving cars, Corona proof cars shall be on roads. Machines will be replaced by men to avoid COVID 2019 effects. Human interreference will be minimum. New Technological skills and new mindset by young India is needed. Hospitals treating the patients should be technologically sound with all latest medical and other equipment to fight against COVID 2019.

4) Environmental Impact: The long-awaited clean environment dream may come true. Due to COVID 2019, people do not get out of homes. Cars, other vehicles are not on roads since last three months. Factories are closed for more than two months. Environment has breathed with clean air. The Holy river Ganga and other rivers flow with pure and clean water never before. Animals enjoying their natural life. No human interference to animals during COVID 19. Himalayan ranges and other forts sighed a relief for the time being. People are enjoying a clean and fresh air nowadays since air quality has improved drastically. It is a blessing in disguise for citizens with improved standard of living.

5) Psychological Impact: During COVID 2019, people are under tremendous psychological and mental pressure. Fear and Phobia are main psychological factors affecting human beings. Continued thinking about COVID 2019 and surrounding environment affected mental health of citizens. Psychological counselling is needed especially to children, old aged people during this critical condition. The effect of psychological distress may affect physical health of people also. Citizens should stay away from negative thoughts about COVID 2019 and avoid social media news which have negative effect on mind of people. People should keep a positive attitude and should be busy in creative activities like reading, listening music, drawing, painting or should do meditation, yoga which will help improve their mental health. Positive thoughts should overweigh negative thoughts during COVID 2019 or otherwise. Students and Young Indians should best utilize this time in learning new skills, pursue new online courses which will benefit them over a period of time which otherwise would not have been possible in a hectic schedule of life.

6) Legal Impact: Due to COVID 2019, agreements, contracts, entered into between companies, Individuals entered prior to COVID 2019 but could not be performed by either party, legal issues/disputes may arise in future for non-performance of contracts or breach of agreements. Force Majure clause will be applied for. It is suggested to resolve legal issues arising out of non-performance of contract through mediation and conciliation to avoid legal costs and time involved.

It may be concluded from the above impact assessment and evaluation of COVID 2019 situation, we should be prepared for a long haul and long battle. We should however be positive and willing to win the battle against COVID 2019.

Disclaimer: The Views expressed in this Article are based upon prevailing facts and views expressed are purely personal in nature. Readers are advised to seek expert opinion before arriving at a decision. You may reach me at vineet.singh@cavrsinghllp.com.