Coronavirus or Covid-19 is an infectious disease caused by the SARS-CoV-2 virus. It is a viral disease that turned into a pandemic in early 2020. The first known case was recorded in Wuhan, China, in December 2019. Coronavirus has multiple variants such as Delta and Omicron, and its most common symptoms are fever, chills and sore throat.
The virus spreads through liquid particles when the infected person coughs, sneezes or breathes – it has a high multiplication rate. Therefore, the world had taken measures to quarantine or isolate those infected. While the disease can be mild and recoverable, those older or with underlying medical conditions are more likely to be adversely affected. The disease caused according to WHO estimates 3 million deaths in 2020.
I completely agree that global supply chain is essential. However, in the press conference of our finance minister day before yesterday, she said global tender will be disallowed upto 200 cores. How will this help India’s ease with global trade?
The Finance Minister, Nirmala Sitharaman, said global tenders will be banned for government procurement up to Rs 200 crore to encourage business for MSMEs so that they could compete and supply for government tenders. This, she said, would help in making industries in India self-reliant. And this may be just a temporary measure to tide over the crisis. Self-reliance does not mean self-isolation. As far as trade and being part of global value chains are concerned, it is imperative our MSMEs produce world-class goods. This is also needed to address our concerns on trade deficit where India should be able to export more manufactured goods and import less.
I understand. Thank you for explaining further!
Nayanima,
Democracy dancing.
We walked out of RCEP. It is NOT over. We are being offered a better deal. Let us watch before concluding one way or the other.
Yes, the package is not loans and not grants. But money will reach the needy (at least that is the intention) immediately immediately. When it is time to repay, hopefully, India has recovered / recovering and it is time for general elections. Write off part of all loans…..two birds with stone…
one more point….”The color of the cat is not important, as long as they catch mice” ..Immediate relief is required and that is given
India should join RCEP. Quite possible the next US President will take his country to TPP.