Exploring the Economic Condition of India

Every country's economy has suffered a lot of damage due to lockdown. India had been badly hit as a result of the strict lockdown. It had been a year since March 2020 when COVID hit India. We have witnessed a lot of things in the last year: how the country handled COVID during its peak graph, how the frontline COVID warriors took care of patients, Indian health care system working 24x7 to take care of COVID cases. The last few months, when the COVID cases fell down, it really brought a smile to a lot of people. The end of lockdown jump-started the long-stagnant economy to an initial start & the launch of the vaccination drive shot up economic activities as people were waiting eagerly for normal days to return. Investors are regaining faith in putting their money out in the market. Even though this doesn't ensure that our country's economy has risen from the negative growth after the worldwide pandemic, but it sure does mark a start towards a recovery journey of the Indian economy. But, the current scenario comes with the cost of a lot of cost-cutting by the companies, resulting in unemployment evenly distributed throughout the country.

We can hope that with time the shape of the Indian economy will get better, but one cannot guarantee unless we can deal with the COVID pandemic first. The government is trying its best to broaden the vaccination umbrella to the citizens by trying to increase the age group eligible for vaccination. It is really impressive how the Serum Institute of India & Bharat Biotech is constantly pushing themselves to produce the vaccine for the welfare of the citizens.
RBI can take lead over here and make some changes in the rates so that people start to move their money and the market re-opens from being stagnant to a fluidic state. The central bank can provide a shoulder to rely upon the rates for businesses which are in dire need of money and are unable to pay their mortgages. Sectors like automobile, low-income group businesses are hit the worst.

Other factors like privatising the government entities and bringing in money is similar to killing the golden duck for the gold. Yes, perhaps it will provide initial relief, but the long term benefit will go missing. It perhaps will be a good call to make the government and private sector go hand-in-hand and learn to function together. India's economy largely depends upon agriculture. Hence the rural economy should also be the focal point.

The automobile industry took a severe hit during the COVID. But, it was seen that there has been a sharp rise in automobiles post COVID. Our government has taken several steps to ensure the rise of the automobile sector. The new scrappage policy that says after 15years commercial vehicles & 20years commercial vehicles needs to be scrapped will boost the selling of new cars. It will ensure that customers keep on buying products. In this manner the flow of money will continue, thus securing the upliftment of the current economic scenario. This will also open a pathway for the entry of EVs given that options are available for purchase and sufficient charging stations are made available.

These few tweaks and treats can really help the economy. Its high time that we act otherwise it is like a sinking ship that won't stop unless we make it stop.

Hiccups in Vaccination

Vaccination has started a long time ago in India. The government of India has made plans of who to give vaccines first and in which order. While the common people of India wonder when they will receive the long-awaited COVID vaccines and feel safe from the deadly pandemic virus.

It is a piece of good news that the frontline warriors are in the process of getting vaccinated, but a question arises in the mind of whether to undergo the vaccination or to skip it, due to the after-effects of the COVID Vaccine. Many are neglecting the second dose of vaccination.

There can be presentiment or rumours which can push a person towards taking a decision not based on solid facts. Thus, awareness about the plan of the government in taking action against the COVID-19 pandemic might help to get support from the people of India. This might help in achieving the desired result. Even though herd immunity is helping a bit, but it is not necessarily effective in eradicating the deadly coronavirus from our lives.

There will be damage to the health, economy and wellbeing of the people if a second wave occurs. Therefore, it is high time to act and be on the guard since the covid cases are on the rise.

We don't want it back.

The Quads & its effect

The Quadrilateral Security Dialogue or the Quad was held recently which brought the leaders- U.S. President Biden, Prime Minister Narendra Modi, Morrison and Suga together virtually. Jointly after discussion by the four leaders they declared, "The quad is a flexible group of like-minded partner's dedicated to advancing a common vision and to ensuring peace and prosperity."

All four countries, the U.S.A., Australia and Japan have felt Chinese coercion, while India had shed blood in the borders. It was time something had to be done against a confronting global power like China. There is no doubt that China is the main reason for the creation of the Quad partnership. China's relentless approach for global dominance, coercive business & trade methods, tech theft, cyberattacks, clashes with the Indian Army in eastern Ladakh, threatening Taiwan & Hong Kong's politics, and the worldwide pandemic arising from the belly of China's Wuhan, has given the necessary thrust for such a partnership formation among the four countries.

Jacob Jeremiah Sullivan, an American senior government official currently serving as the National Security Advisor to U.S. President Joe Biden said, "The four leaders did discuss the challenge posed by China and they made clear that none of them has any illusions about China. But today was not fundamentally about China." Narendra Modi stated about the quad, "coming of age"; " force for global good" & a "pillar of stability". 

Thus, it can be concluded that 'The Quad' is likely to focus on the following for the time being:

1. Boost Vaccine Manufacturing & strengthening Vaccination

2. Raise Mutual Ambition to address Climate Change

3. Committed to International Law upholding universal values & free from coercion.

4. Strengthen Financing Infrastructure

Nevertheless, with great power comes great responsibility.