As the entire nation is under lockdown amid the rising number of Coronavirus cases in the country, the economy of the country has taken a blow with stock markets hitting to record low with an unprecedented double circuit in a month. BJP leader Subramanian Swamy has called the Coronavirus outbreak at a time when the economy was just beginning to emerge from a slowdown as a “Double Whammy” further opining that it is the most dangerous phase for our country.
COVID-19 has hit India at a time when the Indian economy was in a four year+ tail spin. This is what in US is called Double Whammy. It is the most critical and dangerous time for our country.— Subramanian Swamy (@Swamy39) March 23, 2020
Due to the outbreak of the deadly virus, the world economy at large is under an attack. The Indian economy has also suffered a massive setback due to the pandemic. The stock markets have hit a record rock bottom with a double circuit in a month. As a preventive measure of the lockdown, the government and private sector organisations, have been shut or operating at bare minimum capacity. PM Modi has announced a formation of an Economic Response Task Force that would curb the impact of the outbreak on the economy and will also bail out those citizens who have been affected by the deadly outbreak.
Though the Janta Curfew called upon by Prime Minister Narendra Modi was a huge success, people started hitting the roads soon after the curfew timing was over on Sunday. Many were seen flooding the streets on Monday as well defeating the very purpose of the clarion call made by Centre as well as all the state governments across the country.
"Many people are still not taking the lockdown seriously. Please save yourself, save your family, follow the instructions seriously. I request the state governments to get the rules and laws followed," tweeted PM Modi. After the casual behaviour of the citizens on Monday, state governments have warned the citizens of stringent action against those defying law during the Coronavirus crisis.
As the country grapples with Coronavirus, 467 confirmed cases with 9 deaths have been reported in India, while 34 have been cured and discharged according to the Ministry of Health and Family Welfare.