IMPACTS OF COVID - 19

1. According to World Air Quality average concentration of PM 2.5 in New Delhi came down by 71%. As a result Himalayan ranges were clearly visible from the Jalandhar area. It is a rarest incident after 30 years. Jalandhar is 200 kilometres to Dauladar ranges.
2. Reduced commuting  reduced sewage discharge to canals. Quality of river water improved. Ganga water is now fit to drink.
3. According to Brooklings Institution emerging markets and developing countries already owe eleven trillion dollar in external debt and face 3.9 trillion dollars in debt-service costs this year.
4. The pandemic crisis support mechanism has been alloted 263 billion euro by European Union
5. France and Germany together proposed to allot 500 billion euro for pandemic support.
6. With a global depression looming no country will be able to avoid the need for a massive stimulus spending and explosion of debt that will come with it.
7. European governments have been inclined to purchase companies'shares directly with some even pursuing temporary nationalization.
8. With social and economic disruption on a scale rarely seen since the end of World War 2 seventyfive years ago , the pandemic is forcing us to completely rethink ,the notion of business as usual .The COVID -19 crisis is shifting people's thinking sustainably.
9. Human health and health care in general have become number- one priority for global  leaders and healthy planet remains fundamental to all our endeavours to make the world healthier and more sustainable.

COVID RISKS OUTLOOK REPORT 

(Published by World Economic Forum)

• 500 million people are at risk of poverty.
• A prolonged recession over the next 18 months envisaged
• Required trillions of dollars to structural shifts and global economy going forward.
• Debt is a burden for government budgets and corporate balances for many years.
• Business could face adverse consumption, production and competition patterns.
• COVID -19 could have severe post-crisis effects on the planet anf it's species.
• Years of progress could be lost through underinvestment in infrastructure ,adaptation,withdrawals from previous commitments and weaker climate actions.This would give way to a vicious cycle. of continued environmental degradation,biodiversity loss,and further zoonotic infectious(animal originated) disease outbreaks.
• COVID19 led to extreme global hunger.
• Additional 265 million people pushed into acute food insecurity doubling last years total.
• Unemployment and lack of sufficient income made life miserable.
• 8 lakhs of young people set to leave education and face huge unemployment.
• Britain's economy could shrink by 14%.this year.
• GDP could plunge 25% in the second quarter of this year.
• Interest rates hold at 0.1% in bank's 325 years of history.
• Eurozone economy could shrink 7,75% in 2020. and unemployment up to 9.5% from 7.5.
• Greece could record shrink in GDP by 9.7%
• Italy may suffer 9.5% shrinkage and Spain 9.4% .
• As a result of the pandemic the global economy projected to contract sharply by 3% in 2020.Much worse than 2008-2009 global financial crisis.
• As pandemic fades in the second half of 2020 economy projected to grow by 5.8% in 2021 as economic activity normalises helped by policy support.
• So far countries have taken fiscal actions amounting to 8 trillion dollar to contain the pandemic and it's damage to the economy. 
• Emergency lifelines provided globally include higher spending and foregone revenues (3.3 trillion dollar public sector loans and equity injections(2.7 trillion dollar)
• G20 advanced emerging economies at forefront with actions totaling 7 trillion dollar. 

NUMBER OF CASES OF INFECTIOUS DISEASE HAS TRIPLED

Every decade since 1980s more than two thirds of these diseases originate in animals .About 70% of those come from wild animals.Many of the infectious diseases were familiar with _ Ebola,HIV,Swine flu and avian flu  _ are zoonotic. SARS - COV-2 and the disease it causes the COVID -19, has demonstrated how quickly modern outbreaks can become pandemics.

• Emerging market and developing countries face several shocks
• A steep drop in demand from abroad for  goods and services-plunging commodity prices,capital flight,higher borrowing costs in final markets and have less tax benefit system.
• Countries like India, and Kenya cash transfers made with unique ID system  and digital technologies, or in-kind provisions of food and medicine, such as in Bangladesh are possible options
• China offers temporary tax relief for most affected people and firms including transportation,tourism,and hospitality services.
• Full and timely value added tax refunds can grant business access to much needed cash.
• The pandemic and lockdown led to increases in debts and deficits beyond recorded in the global financial crisis.

Shocks   faced by emerging markets and developing countries ;

A steep drop in demand from abroad for goods and services,plunging commodity prices,capital flight,higher borrowing costs in final markets are the result of the pandemic.

Countries like India and Kenya cash transfers made with unique ID system and digital technologies, or in-kind provisions of food and medicine,such as in Bangladesh are possible options. China offers temporary tax relief for most affected people and firms including transportation,tourism, and hospitality services .Full and timely added tax refunds can grant business access to much needed cash.

According to WFP 265 million people could be pushed into acute food insecurity by COVID19.Majority of acute food insecure people lived in 2019 in countries affected by conflict&&million),climate change (34 million), economic crisis (24 million).In 55 countries 135 million people experienced highest levels of food insecurity.Unemployment may rise to 35 % from 7.6%  before the pandemic. 136 million jobs lost.174 million unemployed.And an opportunity loss of one trillion dollar.

• Emergency lifelines provided globally include higher spending and forgone revenues to the tune of 3.3 trillion dollar.
• Public sector loans and equity injections 2.7 trillion dollar.
• G20 advanced emerging economies spent a total of 7 trillion dollars.
• IMF  stands to deploy one trillion dollar lending to assist member countries which focus on low-income developing countries.
• US & Germany extended unemployment benefits , pay roll tax deferral,wage subsidies to small & medium enterprises.
• France  & Japan provided paid sick and family leave to those who are unwell,self isolate,or have to stay home and look after children during school closings.