India - Complete Country Lockdown - Is it on the Verge of Economic Crisis ?

[so98nn]

Respected Prime Minister of India has declared Complete Shut Down of "India"

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

Moreover, internal sources suggest that this lockdown is going to be extended further more if situation of corona doesnt follow within control. This is crazy decision has shaken the whole India for sure and its gonna create economic crisis! People wont be having any money after a month to spend for daily needs, industries wont be paying to employees because there is no business, which means no money outflow-inflow!

What would be the outcome of this unexpected situation of India and people in it?

[1715391848]

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[1715391848]

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[1715391848]

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[Vishnu.Reang]

Authorities have said that people should not step outside their houses. This is impractical as well as unenforceable. In a country of 1.4 billion people (including some 30 million illegal immigrants), how can the authorities make sure that everyone stays at home? Even if this lock-down succeeds, I am not sure whether everyone is having enough food and other essential supplies with them to survive for that long.

[Findingnemo]

China did the same to control the corona spread so country like India also forced to do that complete lockdown to shutdown the community spread hour it will create more serious mortality rate compared to other developed Nations so show the leader decided to to take risk with the economy not with the people health care.

[Febo]

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

LOL man, it is happening all over world. It is not as big as it was 2 months ago in China. Now lock downs are an usual thing. It can even happen that regions in India with most infected gets under the quarantine.

[so98nn]

Authorities have said that people should not step outside their houses. This is impractical as well as unenforceable. In a country of 1.4 billion people (including some 30 million illegal immigrants), how can the authorities make sure that everyone stays at home? Even if this lock-down succeeds, I am not sure whether everyone is having enough food and other essential supplies with them to survive for that long.

Actually they are already taking precautionary steps such as life saving and perishable stuff is allowed to be sold but with lot of limitations.

Strong rules have been imposed to across the country so that socialisation wont happen and there will be ZERO face to face contact minimising the risk of contagious disease.

Though India's population is large then also police force is working harder on them, literally hitting the people badly but for the purpose of good.

But, we cant predict how it will impact the whole economy stuff and that is what i want to know, how, and how badly?

[so98nn]

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

LOL man, it is happening all over world. It is not as big as it was 2 months ago in China. Now lock downs are an usual thing. It can even happen that regions in India with most infected gets under the quarantine.

So what are the statistics of them and how you co-relate it to Indian situation?

Considering that India is densely populated with most of the base serving average employment with mid level salaries.

[Ryutaro]

It is the best solution needed to control the spreading of the virus that comes at a very high economic cost, such a hard decision must be taken after a lot of thinking and analyzing of the situation locally and worldwide and preparing solutions to the upcoming days, but, it is the only one that can minimize the consequences IF the procedure is respected by all citizens or it will the situation will be uncontrollable like Italy or France.

Many countries have made the same procedure, the government was forced to help institutions from bankrupting by postponing the paying of taxes and providing free interest credit for poor families, without this, people will get crazy about the situation and full panic will take place.

[Golftech]

Tough decision for the leader but it's for the best interest of the whole nation. The Corona virus is really harming everyone and if this virus already inside the country the only thing to prevent a much bigger damage is to implement total lockdown.
It will bring economic problem but it's the only solution where there's no cure yet to this pandemic virus, The people around should follow this call in order
to save more lives.

[tomahawk9]

Here's a link to the news: https://www.cnbc.com/2020/03/24/coronavirus-indias-prime-minister-orders-nationwide-lockdown.html

It's obvious that there's going to be an unprecedented economic crisis in this country, real question is how long could it last? Is the indian govt prepared to face such crisis? What are they going to do about the SMEs?

Btw, it'll be interesting to see if this could have an impact on the cryptocurrency market in the short-term. Not too long ago, the pseudo ban on crypto trading in India was lifted^[1] which many people in the cryptosphere saw as bullish news. But now, with a complete lockdown in a country with 1.3 billion people, who knows what effects could have in the local crypto industry as well the global cryptocurrency industry.

1. https://www.coindesk.com/indias-supreme-court-lifts-banking-ban-on-crypto-exchanges

[avikz]

Respected Prime Minister of India has declared Complete Shut Down of "India"

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

Moreover, internal sources suggest that this lockdown is going to be extended further more if situation of corona doesnt follow within control. This is crazy decision has shaken the whole India for sure and its gonna create economic crisis! People wont be having any money after a month to spend for daily needs, industries wont be paying to employees because there is no business, which means no money outflow-inflow!

What would be the outcome of this unexpected situation of India and people in it?

First you need to understand why India had to do this. India is a densely populated country with 455 inhabitants per square kilometer. If Covid-19 starts spreading like Italy in India, it would kill millions of people in no time! India doesn't have the health care facilities like other first world countries so this is the best we can do at this moment, keep social distance to ensure the virus stays at bay!

Once the situation is controlled, government will have to declare stimulus packages to strengthen the economy. There are several areas that can be recovered from financial crisis through such stimulus packages.

Right now, we can just follow what government orders us to do. Save your life first. You will earn money later once everything normalizes.

[mu_enrico]

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

Confirmed https://twitter.com/UN_News_Centre/status/1242622226525900800
What a video posted there!

It's understandable for a country like India with the second-biggest population to do this curfew. It's sad, and I expect Indonesia also will do similar action since our healthcare system is considered weak. If the virus can wreak havoc in strong healthcare countries, it would be more devastating here.

Crisis? Maybe, at least economic slowdown globally.

[palle11]

Shutting down is not crazy and it the best solution to curtail the spread of corona virus. To be alive is better than rubies. Thus, what the government need to do therefore is to move in with immediate relief to the people like food, sanitizers , money either through bank account transfers so that people can get some other needs pending the solution for the cure of the virus.
Meanwhile, India is not the only country on this too.

[exstasie]

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

Moreover, internal sources suggest that this lockdown is going to be extended further more if situation of corona doesnt follow within control. This is crazy decision has shaken the whole India for sure and its gonna create economic crisis! People wont be having any money after a month to spend for daily needs, industries wont be paying to employees because there is no business, which means no money outflow-inflow!

I'm sure the decision wasn't taken lightly. Do you want 3 weeks of lockdown now, or months of uncontrolled epidemic later? The experiences of Italy and NYC show what happens when you wait and do nothing.

I just wonder if Indians will comply. The order doesn't even seem to allow people to leave their house for food....

[freedomgo]

Economic crisis would certainly happen, but the government is doing the right thing, we can't choose between money and health here, of course the government will always prioritize the health of the people even if that would result to the collapse of the economy.

India's number of cases is still small, but we've seen what happen to other countries, the government are just preventing more damage, so I think we should just cooperate with this.

[abhiseshakana]

Respected Prime Minister of India has declared Complete Shut Down of "India"

It is very big decision by PM of India and this shut down is not for one day, one week BUT its for whole 21 Days!!

Moreover, internal sources suggest that this lockdown is going to be extended further more if situation of corona doesnt follow within control. This is crazy decision has shaken the whole India for sure and its gonna create economic crisis! People wont be having any money after a month to spend for daily needs, industries wont be paying to employees because there is no business, which means no money outflow-inflow!

What would be the outcome of this unexpected situation of India and people in it?

India has experienced a number of epidemic outbreaks starting from HIV in 1984 that were not detected in India. Nipah virus in 2001 was not detected and diagnosed. In 2002-2003 India survived the SARS virus epidemic because it followed the WHO protocol for screening air travelers from infected places, and testing and quarantining those suspected of being infected. All nations followed the protocol, and the spread of SARS coronavirus was interrupted by mid-2003.

In 2009 India failed to prevent the spread of H1N1 virus. What was appropriate for SARS prevention did not work for the flu. Globally, the virus has stayed on as endemic or seasonal. COVID-19 is closer to the H1N1 flu pandemic, which has persisted as seasonal flu. Like with the H1N1, the virus can escape detection in spite of screening. India must anticipate widespread transmission and eventual endemic persistence.

India is actually enjoying a demographic bonus at the moment because many of its population are in productive age. A large number of productive ages is maintained by the Indian government as one of the reasons for locking down because if the coronavirus becomes a pandemic in India, the Indian economy will experience a very deep setback. Besides this productive age is actively mobilizing so that the risk of spreading the virus will be even greater.

LOL man, it is happening all over world. It is not as big as it was 2 months ago in China. Now lock downs are an usual thing. It can even happen that regions in India with most infected gets under the quarantine.

Not all countries do the same thing as India. Indonesia despite the positive case of the corona has reached 790 people with a high mortality rate (7.3% for now, but it has reached 9.3% in the last few days), but the government still does not lockdown on the grounds of chaos and lack of distribution of basic needs to water especially for the capital area which still relies on supplies from outside the region.

[hahay]

The impact will obviously affect the economy but I don't think it will matter if the aim is to stop the spread of coronavirus, all major efforts continue to be made in other countries and in my opinion the economy can still be fixed quickly when the coronavirus problem can be resolved quickly. So doing lockdowns and other efforts I think is something that really needs to be done now because after all, this epidemic must be destroyed as soon as possible.

[LazerSMS]

It just can't work in a very poor country where people lack savings and most live day by day, we are going to see some Corona revolutions in places where anger will turn into anti government sentiment

[Meowth05]

If the government has a cleàr plan on what to do with the crisis, like relief operations for people that are in lockdown.

[el kaka22]

I am not entirely sure if you can keep over a billion people at home all the time, there must be some sort of stuff that makes sure that some people go out, like in Italy perhaps? Like maybe one person from each household could get a paper and go out and do their shopping, and people who are living in vital sectors such as grocery stores and hospitals all are going to work as well, maybe bus drivers and many others so forth.

So, basically the country can't be in "complete shutdown", that is usually done during military coup where you literally keep EVERYONE at home, this is more like medical shut down, where only the "have to" people go out but rest are suggested to stay at home. Which of course would hurt the economy but at the same time saving lives are much more important.

[senin]

Authorities have said that people should not step outside their houses. This is impractical as well as unenforceable. In a country of 1.4 billion people (including some 30 million illegal immigrants), how can the authorities make sure that everyone stays at home? Even if this lock-down succeeds, I am not sure whether everyone is having enough food and other essential supplies with them to survive for that long.

Now many states are taking such measures and recommending that the population not leave their homes. I still do not remember that such measures were taken earlier on a global scale. On the other hand, there is now a sharp improvement in the environmental situation on the planet, air and water are being cleaned, and at a very fast pace. Many forecasters predict that our world will no longer be the same, it is changing and is changing irrevocably. At the same time, we are being watched closely now: in near-Earth orbit it fixes directly clusters of alien ships. Something serious is happening or is about to happen soon. Some say that a large asteroid is likely to fall to Earth. There are several of them at once. One thing is clear: if we want to survive, we must unite and act together.