Economic Impact of COVID-19: Issues Faced and Actions Needed

COVID-19 is having a major impact on everyone's lives. As citizens, people are sleeping less, there is anxiety and in some cases panic. When it comes to business owners and CEOs, the situation is no different. New directions are coming every day,making things quite uncertain, esp at this time of the year when businesses are busy trying to achieve targets.

With this post, we seek your inputs on what are you faced with in your business and at this junction, what specific actions can be taken by the Government in the very short term, that will provide the necessary relief and help you sustain your business.

We look forward to your inputs! more  

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The Business is down , most of the Industries are Closed, So No TAX Collections. Govt. is Not having the fund to see the Overall expenditure. In this Circumstances Govt. should take some hard Steps to cut the expenses.
The expenses of MP/ MLA , their Funds should be cut down upto next elections. It is utilised by themselves for Public Facilitation Purpose. even in Next Coming years also it should be kept Limited. Before taking any work ask Public what they want before allocation. List of Top Priorities & implement . It will save Lot Of Public money.

Reduce Telecom & Other allowances & Misc. expenses Like Car Purchase , Office Renovations of MP/ MLA , Ministers etc. It will save the money.

Limit the Pension of all pensioners , irrespective of their ranks. Maxm. Rs. 30,000 /00 PM is O.k.. Now Some Pensioners are getting more than without any work. It will reduce lot of Burden from Govt. it is hard & difficult steps. Even opposition Parties MLA / MP will start shouting loudly first.

There will be job lost may occured in Pvt. sectors. some Companies have already started 30 % cut in salaries.Also see the Peoples employed in Govt. sectors through Contractors.Their name & employment card should be registered with Addhar Card & Bank account. It is learnt from rly. coach attendants that they are getting less in actuals. This Practice is creating problem standard of Living.

The Bharat will rise again, no doubt . It is early midnight -or early morning for us to wake up with new reform. more  
Till now telecom sector was worse performing but tourism, hospitality, real estate, automobile will also be in same category. One month, no factory, organisation working, losses will be collosal. more  
Travel and Tourism industry is perhaps one of the top ones to be hardest hit. due to the multiplier effect of every rupee spent while indulging in travel and tourism, and now that it has come to a complete halt, many lives and businessess are under a lot of trauma. govt. should work out an economic relief package, tax holiday, and suspension of the proposed TCS as it would make the industry non competitive with respect to the foreign players, and also increase the burden of compliance on the industry. more  
..... Actually Nothing really!!!!!!
Coz digital mode is quite an established option.
If at all anything is done adhoc, let not security of people's moneys be compromised!!

When the order of priority for the king & the pauper is as below, only a radical shift in the mindset needs to happen!! 😺

Live first!
Ride the intense part of the pandemic wave (2-weeks) living just normally!
Pick up things after couple weeks & build up whatever is lost (well actually seemingly lost please......!) Nature and the planet also have their cycles and in the expanded view of things everything is just an experience!!!
If 9/11 caused a financial bungle in couple minutes, corona thingy has its own style of doing it!! 😸 more  
Govt needs to ensure that bank FDs in PSBs are able to provide atleast Rs 50k per month as interest on invested amounts. Only because of the low FD rates are investors forced to opt for risky avenues and look at the bloodbath in the stock markets-all returns wiped out. If economic safety is there, people would not have to search for greener pastures elsewhere in other countries and investors would not have to invest in other high risk avenues to generate returns. more  
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