Possible Outcomes of Covid-19

The pandemic has been profoundly influencing a majority of nations around the globe since the start of the year 2020.


Graph representing a decline in the GDPs of the major economies (Source- scroll.in)

The Coronavirus (COVID 19), has been deeply affecting the masses around the world since the beginning of the year 2020. The disease has been characterised as a pandemic by the World Health Organisation (WHO) and is now affecting the societies at the primary level. This health crisis has failed to limit itself just to health but it has also resulted in a humanitarian, political, economic, social, and cultural crisis.


The rise of this virus has dropped bombshells on the world’s economy. A lot of economic changes have prevailed which came unexpectedly with the virus. A notable rise in unemployment has been noticed worldwide since many developing businesses and companies have eventually shut down because of this huge disruption in their working. This shutdown has led many people to go jobless because of their employers’ inability to pay them salaries.


Economical and Political Basis


The economy is almost certain to face inflation due to the outbreak of COVID-19, as due to the hoarding of money by people, which is obviously for their financial security reasons, the flow of the money in the economy has slowed down drastically. Because of which some services have been forcibly stopped to run, which has further led to the downfall of the Gross Domestic Product (GDP). The latest data released by the Ministry of Statistics and Programme Implementation shows how the Indian economy is in crisis. The data also reveals the GDPs of the world's worst-affected economies due to the outbreak of the pandemic in the April-July quarter. As a result of which there is an emergence of a new political arrangement might be faced by the developed and the developing countries which will depend hugely upon the crisis management by the leaders who are usually looked up to. A new trade policy has a possibility to rise up in the current political scenario, where all the major political leaders might gang up against the one culprit leader.


Talking about the industrial effects of the pandemic, there has been a visible shift to the agricultural product-based industries, since the rising demand for food has made the other so-called luxury industries to come down eventually. Which yet again, might be a huge benefit for our country India, as 80% of its population is still indulged in agricultural and similar industries. And thus, the necessity industry will and is currently flourishing, outshining all the other private players.



Social and Cultural Basis


Speaking of the social ramifications of the COVID-19 there have been and can be a ton of them. The one significant ramifications that can be seen at present also is that the degree of social removing has created trust issues among people for their kindred individuals. There has been a gigantic change in the social conduct of individuals. Individuals have begun to separate themselves from one another and that plainly shows how the degree of trust among them has dropped radically. Individuals have begun abstaining from meeting others. This virus has created a feeling of doubt in individuals that the individual they are remaining close to maybe a transporter of the virus. This occasion may additionally influence the way of life of get-togethers even after the pandemic as individuals would begin receiving the more comprehensive arrangement of living. Individuals may embrace the western style of the Nuclear family framework to guarantee the wellbeing of their kindred relatives.


All these implications have a chance to rise if the current conditions continue to prevail.

0 comments

Recent Posts

See All