Coronaviruses generally refer to a virus that consists of a group of related viruses that may cause diseases in mammals and birds. In humans, coronaviruses cause various problems like respiratory tract infections or the common cold.
COVID-19 is a new form of previous coronaviruses. It is an infectious disease that has emanated from China, mainly in Wuhan city. According to WHO (World Health Organization), The COVID-19 virus spreads primarily through the droplets of saliva through sneeze or cough. It is suggested to sneeze or cough while covering your nose with your elbow.
Effects After The Control Of Coronavirus On The Economy:
After the control of coronavirus, how will the economy be impacted! Will there be a progression, or will there be stagnation, or will there a recession?
As of now, the COVID-19 will severely affect the economy as stock markets of various countries like America are crashing, which will lead to lowering the buying power of the people in the country.
Main Advantages Of This Effect:
1. Online business will boom as after the pandemic affects individuals in the country are afraid of buying products from the market.
2. Technology up-gradation is on the peak as in many countries, the product supplied to customers with the help of drones, so this technology is also transferred to the developing countries.
3. The online streaming industry is also on the peak at the time of coronavirus; they will also enhance their productivity after this significant effect of coronavirus.
4. Growth in the pharmaceutical business is assured as more production and investment is made in this sector by every country to foster their health sector to prevent future disasters like this.
5. Non-cyclical business is on boom like toothpaste, grocery, alcohol, etc. as they are necessary goods that need to be consumed by every individual.
6. Above all, the mentioned benefits the world is now getting healed up as mother nature is being purified as many industries and polluting machines are not in performance. Official Pollution board has released the reports that in many parts of India, pollution has come down to almost 25%.
Main Dis-Advantage Of This Effect:
Airlines industry, this is the primary sector of losses among all the countries the international flights are banned which will cause considerable losses to this industry, so it will take a huge time to revive themselves.
Tourism will be lower as now people are afraid of going to other countries just for the sake of tourism.
The Retail Industry is on a loss as of now—a time all the retail shops except the essential retail shops.
A Venture Capitalist is also on the major threat as new business set up are low which will lead to lower investment, and lower investment means a loss to a venture capitalist
Motor Vehicle Dealers are also on a loss due to the entry of electric vehicles, but for now, due to this virus, they incur significant losses.
CONCLUSION: India is a labor-intensive country, which is a plus point to us, but with the effect of this virus, it can destroy this factor. The solution to this problem, according to us, is that India must focus on only two things. One is the “technological up-gradation” part, and the second most important the “the process.” If these two things are well established, no one can revoke us to cope up with this problem, and our growth graph is shifted from U shape to V shape.