SNBP INTERNATIONAL SCHOOL,MORWADI

NAME OF STUDENT ROSHANI RAVINDRA LAGAD

CLASS 10TH B
ROLL NO. 31
SUBJECT ECONOMICS
TOPIC ECONOMICS AND DISASTER MANAGEMENT
NAME OF TEACHER MRS. MRUDU NAVANGUL
NAME OF SCHOOL S.N.B.P INTERNATIONAL SCHOOL

The Socio-Economic Issues That

Have Arisen Due To The
Pandemic COVID-19 Locally

Government of India is taking all necessary steps to

ensure that we are prepared well to face the
challenge and threat posed by the growing
pandemic of COVID-19 the Corona Virus. With
active support of the people of India, we have been
able to contain the spread of the Virus in our
country. The most important factor in preventing
the spread of the Virus locally is to empower the
citizens with the right information and taking

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precautions as per the advisories being issued by
Ministry of Health & Family Welfare.

There are several questions that arise during this

pandemic regarding the impacts of novel
coronavirus on the world economy. Following are
few basic questions that are normally taken in
consideration during a disaster:

How Will The Disasters Affect Economic

Growth And Development Of Various
Countries?

Rapidly spreading deadly coronavirus worldwide

has a severe impact on the global economy. Due to
this, the top 15 countries of the world including The
US, UK, China, France, Italy, Iran, India, etc. have
been hit by billions. According to the report, China
will suffer the most damage due to Corona. China’s

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global exports could be reduced by $ 50 billion. The
sectors most economic effects of Coronavirus
include machinery, automotive and
communications equipment.
Among the economies in the world that have been
the most affected are the European Union ($ 15.6
billion), the United States ($ 5.8 billion), Japan
($ 5.2 billion), South Korea ($ 3.8 billion), Taiwan
Province of China (2.6 billion Dollars) and Vietnam
($ 2.3 billion). The OECD has also estimated 50
basis points (2.9 percent to 2.4 percent in 2019) in
global GDP due to Corona.
The Asian Development Bank has said that Corona
will have a major impact on the developing Asian
economy. According to CII, China imports 43% of
India’s top 20 goods. The mobile handset
comprises $ 7.2 billion, computer and parts $ 3
billion and fertilizer imports of $ 1.5 billion. Due to
Corona being severely affected by China’s economy,
it will have a wide impact on India.
The consequences of the coronavirus impact on the
global economy and send policymakers looking for
ways to respond.
China’s experience so far suggests that the right
policies make the difference in combating the
disease and reducing its effects – but some of these
strategies come with strong financial trade.
Investors fear that the spread of coronavirus will
ruin economic growth and is not enough to prevent
a decline in government action.

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In response to this, central banks in many countries,
including the United Kingdom, have cut interest
rates. The global market also improved somewhat
after the US Senate approved a $ 2 trillion ($ 1.7tn)
coronavirus aid bill to help workers and businesses.
Due to the lockdown in many countries, the travel
industry is facing a crucial situation. Many
countries have banned international flights to
tackle with the coronavirus spread. Not only the
international traveling industry but also the
internal traveling solution providers are also facing
a record-breaking downfall in business as district
borders have been blocked by many governments.
To tackle coronavirus outbreaks’ effects on the
nation many governments are making hard
decisions that are going to affect the economy
badly.
The major effects of coronavirus outbreak are on
their way. Experts say that, after such massive
lockdown, there will be a lot of demand for raw
goods and production essentials from all the sectors.
But as the manufacturing is shut there will be a
huge shortage of these goods and major giants,
their customers and also the economy will face a
major fall down.

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Impact of COVID-19 on Sectors in India

SECTORS IMPACT RECOVERY PERIOD REASONS

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We need smart solutions to mitigate the

coronavirus’s impact.

Death by infection or demise by lack of livelihood:

these are the two ugly choices before the world of
policymakers today. Allow business as usual and
infection by Covid-19 spreads. Stop all transport
and logistics and slowly food, medicines and
essentials begin to vanish. Stretch both from the
citizen’s point of view and there is only one idea
that will bind them together – panic. While
Prime Minister Narendra Modi has chosen health
and lives in his 24 March 2020 29-minute speech,

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the impact and implication of economic hardship
due to the lockdown can’t be undermined.
Across centuries as well as geographies, crises
and catastrophes have shown us that the one key
driver of return to normal is the ability of
societies and nations to deliver distribution, keep
the supply chains going. In this ongoing Covid-19
crisis, we need to take one more step. In what
could possibly be a first and set the playbook for
future disasters, governments across the world
need to use public as well as private sector supply
chains, support jobs and livelihoods while
delivering essential goods and services. In effect
turn them into weapons of mass reconstruction.
This reconstruction will be best driven by the
government as well as companies, in the private
sector as well as in the public sector. The
movement of goods from the manufacturer to the
consumer involves a fleet of businesses, large and
small, that cart food, toys, automobiles, groceries
and suchlike to distributors, who across several
layers (depending on the need of the product)
reach these products to retailers, who finally sell
to consumers. The last leg of this chain often
comprises vendors of ice-cream and SIM cards,
sellers of cigarettes and stationary, dispensers of
medicines and groceries. All these hard and soft
assets should be used to fight this crisis. Finally,
while dealing with this crisis, the government
needs to plan for a longer timeframe than 21 days,
and then hope for an early end. Ten ideas follow.

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1. Deliver public healthcare.

Continue with whatever the Union and State

governments are already doing on the healthcare
front such that those afflicted by the virus are
taken care of, either in quarantine or in hospitals.
And ensure that essentials such as food,
medicines and other daily requirements are
available throughout the country. The resounding
echo from doctors, nurses and paramedical
caregivers is that they are ready. Complaints
from consumers and retailers tell us that
essentials are not reaching due to
implementation frictions.
2. Involve the private sector.

In terms of reaching goods to the people, the

supply chain infrastructure of India compares

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with the best globally. A Hindustan Unilever
shampoo satchel or a Britannia biscuit packet is
available in an 80-strong village ensconced in
distant hilly terrains of Himachal Pradesh. A Jio
SIM or an ITC cigarette is available in the
remotest corner of a desert in India. Given the
gravity of the situation, the government should
use this distribution network to deliver food and
groceries to citizens and consumers.
3. Co-opt redundant labour, vendors into
the logistics chain…

With hundreds of thousands of stranded and

homeless daily wagers having no means to travel
back to their villages, the government could turn
them into last-mile transporters. This way, the
economic hardship they may be facing can be
overcome by an extra-Budget provisions (as well
as corporate infusions, as explored below),
starting from the Centre and trickling down to
the States. Although this is not the time to play
financial politics, the cost should be borne by
both governments; there is no space for fiscal
bickering. All the while, keep the protection of
livelihoods in mind. A quick skilling kit, specific
to the commodity being transported, from a fast

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moving consumer good to life saving
over-the-counter medicines, should be embedded
into this initiative. This way, the unskilled
labourer will emerge with new expertise that will
be portable and scalable.
4. …and give them all protections.

While such a structure keeps the economic chain

moving, it cannot be done at the cost of the
citizen’s life. Every hand that engages with this
last-mile delivery should be accompanied with
adequate protections and rigorous procedures,
including social distancing (digital payments to
seller with the hand leaving the package outside
the door, for instance). A healthcare-certified
protocol of steps, not very different in spirit from
a testing lab or a surgery team, should be followed
at every point by every economic agent in the
chain.
5. Open temporary food stations.

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Again, these need to designed carefully, with all

the preventive mechanisms of social distancing
and hygiene in place. Food security in the time of
great stress will help prevent panic. Use the
midday meal infrastructure, or lessons from it, to
expand and scale up this
initiative. Citizen-administration models are
emerging; these need to be strictly followed.
6. Seek out and create temporary shelter
stations…

Here, an out of the box legislative solution

through the Ordinance route would help. An
experiment could be conducted to include
home-owners and the real estate sector. Given the
thousands of homes lying empty for lack of trust,
absence of a return and the unsurmountable legal

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mountains a home owner needs to encounter in a
court, the government could enact a law that takes
these empty houses on rent for three to 12 months,
depending on the intensity of the virus. This way,
an asset that is going nowhere gets used by small
groups of people, say two in a room, after testing.
Offer asset security to the home-owner and
life-security to those temporarily residing in them.
The rent can be a fraction of the market rate.
7. …and empower them.

Going forward, if residency above is taken as

successful, each building or a set of buildings
could be allotted a team comprising a trained
healthcare worker and a security professional to
ensure sanctity of the seclusion objective. All these,
could be on contractual terms. In case the virus
spreads out beyond what it is today, clusters could
be converted into full-time quarantine wards.
8. Work with the private sector to expand
healthcare facilities.

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Reliance Industries Ltd has set up a 100-bed

centre at Seven Hills Hospital completely
dedicated to patients of Covid-19 in partnership
with the Brihanmumbai Municipal Corporation.
Mahindra Holidays has offered its resorts as
temporary care facilities. Mahindra Group
Chairman Anand Mahindra said the group’s
projects team “stands ready to assist the
Govt/Army in erecting temporary care facilities”.
These assets, created and offered in record time
should be utilised efficiently. Perhaps a
ground-zero team of government officials and
private managers should work together to
administer these facilties.
9. Use money wisely.

Companies are opening their purses, money is

flowing and more will continue to flow towards

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fighting this virus. Vedanta chairman Anil
Agarwal has set up a Rs 100 crore fund to protect
livelihood of vulnerable communities impacted by
Covid-19. Axis Bank has set aside Rs 100 crore to
help curb the spread of coronavirus. Anand
Mahindra has offered his Rs 8 crore salary to fund
small businesses and self-employed in the
company’s value chain. Over the next few weeks,
we will see more companies, as well as their
employees, open their purses to fight this cause.
The government should set up a system of
accountability or create processes and information
flows that enable this money to be utilised
efficiently. Use financial management expertise in
corporate sector to set up and track these
processes.
10. Embed entrepreneurs and managers in
crisis management.

The corporate sector is not just about money or

physical infrastructure. It is equally about
infusing efficiency in projects, operations, crises
management, innovation and entrepreneurship –
that’s how they are trained, that’s what they do,
that’s who they are. While hard money will flow
easily, this expertise must not be held back by turf

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or administrative frictions. Patriotism doesn’t
have a net worth and is not restricted to one sector
(the government) alone. A start can be made by
setting up a task force of technology
entrepreneurs and big businesses that can support
government initiatives with knowledge and
insights.
While most wealthy nations can focus on life, in a
poor country like India, it is crucial to balance
lives and livelihoods. For the latter, the
government needs all the trained hands it can get.
The rest, as Modi stated, can contribute to this
great cause by respecting the Lakshman Rekha
and staying home.
Other ways to stop the impact of
coronavirus is:-
1.Disinfection chamber

In an attempt to boost the fight against coronavirus,

DRDO designed a full-body disinfection chamber
they are calling the personnel sanitization enclosure.

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Reportedly, a walkthrough enclosure is capable of
disinfecting 650 persons until the next refill.
2.Robots on the job

As health workers, researchers and governments

struggle to contain the spread of the pandemic,
robots are being deployed to administer treatment
and provide support to quarantined patients

3. A bodysuit to safeguard frontline warriors

The bodysuit is a critical requirement for doctors,

medical staff, sanitation workers so that they do not
contract the virus during their work; DRDO has

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designed a full bodysuit to stop contamination
through coronavirus.

4. A mobile app to locate virus suspects

IIT Roorkee has developed a mobile tracking

application with state-of-the-art features to boost
government efforts for the surveillance of
coronavirus suspects. The application can track
COVID-19 suspects who have been quarantined,
using geofencing technology, which marks a virtual
geographic area and triggers a response if an
individual exits or enters the boundary.
5. Low cost ventilators

IIT Roorkee has also developed a low-cost portable

ventilator that can be useful for COVID-19 patients.

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Named ‘Prana-Vayu,’ the closed-loop ventilator is
equipped with state-of-the-art features.

When Disasters Strike What Can

We Do?

A natural disaster can occur at any time. Some

disasters give a warning, such as a storm preceding
a flood. Others, such as earthquakes, give little or
no warning. Once a disaster happens, the time to
prepare is gone.
The best way to cope with a natural disaster is to
prepare by having a plan before it strikes.
Disasters vary in size, from smaller events such as a
storm affecting a single suburb, to large-scale
events that can affect whole cities or large areas
that cross state boundaries.
As a result of disasters, people may be injured or
killed, or may lose their homes and valuable
possessions.
It is important to protect your family, home,
business and assets from such events. Insurers
provide society with the means to do this. Following
a natural disaster, insurance companies can pay

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claims to policyholders with the right policies who
are affected, allowing communities to rebuild.
Taking steps to prepare for a disaster can help get
you back to normal faster. If you are unprepared,
the devastation and financial loss caused by natural
disasters can be magnified.

Plan for your risk

Every Person should know how to prepare for any

natural disaster.
Most of us live in areas that can be affected by
extreme weather and other natural disasters,
whether it is from bushfires, floods, severe storms,
droughts, cyclones or earthquakes.
The first step is to identify the types of disasters you
are exposed to, the likelihood of these occurring
and their potential impact. Knowing the most
common hazards in your area — particularly if
you’re new to the region — can help you focus your
preparation plans for each hazard.
For instance, ask yourself:

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 Is my area vulnerable to any natural hazards?

 How often are these hazards likely to occur in
my area?
 Which of my assets would be affected?
 To what extent would l be affected financially?
 How would I recover if I did not have
insurance?
 How can each disaster be predicted or
mitigated?
Local councils and emergency management
authorities can help you identify risk in your area
and outline the local plans and recommendations
for each.
Once you have identified the disasters you are
exposed to, it’s important to review your insurance
policies and confirm your cover against various
events. If you don’t have insurance, consider the
types of policies you may require and the risks you
need them to cover.
If you live in a flood or bushfire zone, it would be
wise to insure your property accordingly. For
example, if your home is next to a river or creek and
your property is at risk of flooding, check your

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policy to see if you’re covered. If you’re unsure,
contact your insurer to find out.
Many insurers will place embargoes on insurance
when natural disasters are considered imminent.
This means if a cyclone is heading your way you
may not be able to purchase insurance cover until
the insurer lifts restrictions on new
policies. Embargoes prevent property owners
buying insurance just before a disaster strikes and
then cancelling once the risk has passed.

Making a plan

Given how unpredictable nature can be, it’s a good

idea to take measures to reduce your risks, protect
your home and keep your family safe.
People often feel helpless against destructive
weather. There are some simple steps you can take
to keep you and your family safe and lower the risk
of your home and other assets being damaged. In
many instances, preparing against one threat can
protect you from others as well.

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Steps you can take now to prepare for a
disaster

 Know the hazards in your area.

 Review your insurance policies and confirm
you have adequate cover against each type of
disaster you are vulnerable to. Also check
your sum insured to avoid being underinsured.
 Take a household inventory and store copies in
a safe location or online. Cataloging your
belongings with a home inventory might sound
tedious, but how easy would it be for you to
recall all the contents of your home if you lost
everything? Taking a home inventory can help
you determine if you have enough insurance
and can save you time and headaches when
filing a claim following a disaster
 Prepare a disaster plan. Your plan should start
with having somewhere safe to go. Think of
someone who could house you and your family
and talk to them about what might happen in
the event of a disaster. Then talk to everyone
who lives in your home about what to do if
there’s an emergency and you are unable to
return

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 Have a communications plan. Consider that
your family may not be together if a disaster
strikes. How you will get to a safe place? How
will you contact one another? How will you get
back together? You will be better prepared to
safely reunite your family and loved ones
during an emergency if you think ahead and
communicate with others in advance
 Have an evacuation plan. In some cases when
you need to evacuate, there may not be a lot of
time. Plan how to evacuate your home quickly
and make sure everyone knows the evacuation
plan. Make sure everyone has a list of
emergency contact numbers they can phone
 Practice the steps that are needed to
disconnect your home’s gas, water and
electricity and make sure you understand these.
If you are able to, learn basic first-aid
procedures, which will allow you to assist
others during a natural disaster
 Before any disaster, you should inspect your
home and eliminate any potential hazards. In
an emergency, ordinary items in your home
can cause injury and damage. Anything that
can move, fall, break or cause a fire is a
potential hazard
 Community connections are important. Make
sure you know your neighbours. Swap phone
numbers and keep an eye on elderly or
disabled neighbours, or people with children –
they might need extra help during a natural
disaster

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 Make sure to regularly check safety devices in
your home, such as smoke alarms and fire
extinguishers
 Speak to your local authorities and emergency
services and learn about your community's
emergency plans, warning signals, evacuation
routes, and locations of emergency shelters.
Local emergency services will also be able to
advise you on the most common types of
disaster that affect your area.

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