Rural Economy and COVID-19

        Rural Economy and COVID-19

       The problem of Novel Coronavirus (Covid-19) is one of the most appalling  problems. It has been pervaded everywhere, India is not an exception, its effect can been seen far and wide. It is vivid that most of the people have met with demise and remaining lives of People are on the stake, so much so that WHO declared it as a Covid-19 pandemic due to rapid growth of it. Being Compelled government declared lockdown in entire nation as result lockdown 3.0 is running. This lockdown mar the Indian economy abysmally irrespective of  rural or Urban economy especially urban.The statistics reveals that  recent economic growth of India is slow to 1% this year, the lowest it has been for over yeaster 40 years. However, The rural economy of India is less affected by this pandamic because India is an agricultural country and blessed with a record production of rabi crops which produces large revenue. Keeping in mind the need for having a dedicated national fund  with the primary objective of dealing with any kind of emergency or distress situation ‘Prime Minister’s Citizen  Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’ has been set up. This fund will be used for combating, containment and relief  efforts against the coronavirus  outbreak and similar pandemic like situations in the future.

       Consequently, however the rural economy of India is less affected by this pandamic but if it continues, a day comes, the Consumption demand, the bedrock of the Indian economy, will also fall due to the collapse  of incomes, and erosion of private  investors will be shaken and uncertain, which would be detrimental for entire Nation because while lockdown the greater part of the non-agricultural work unlike rural have no livelihood and  it will lead poverty.

Note_ Keeping in mind the collapse of entire economic system, yesterday (12 may 2020) Prime Minister Narendra Modi announced 'Atmanirbhar Bharat Abhiyan' for Self-Reliant India 20 Lakh crore in 2020. The package of 20 lakh crore rupees would give a new momentum to the development journey of the country in 2020 for making India Self-reliant. Moreover, he insisted on  local products therefore It is high time to become vocal for our local products and make them global and contribute to Nation in this global pandemic. It would be panacea in this adverse situation.

                            Author_Vikas Deep

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