There has been very unfair targetting of Nirmala Sitaraman & Government of India over economy before the Pandemic hit our economy had slowed down but Government had taken a lot measures from Private Sector to Taxation to Public spending not bothering to for the fiscal deficit.
The measures were taken last year July-September were appreciated by everyone but then Pandemic hit which is once in a century event & had we not locked down it would have been humanitarian disaster as our health care facilities would have been overwhelmed & caused huge deaths.
The choice was clear do not lock down and run risk of deaths in probably lakhs or lock down save lives, prepare health infrastructure to cope with ultimate peak which was inveitable anyway. You cant stop the virus from spread but u can surely prepare for it.
Our death rate is 1.76 % & recovery rate around 75% this is nothing short of a miracle. I think every government be it center or states need to commended for the work they have done given we are country of 1.3 Billion people. Compare this to 1918 pandemic where we lost millions.
23% Contraction in history is not Nirmala Tai's creation nor is the Pandemic. Most people understand that. Even Unlocking Economy has been managed well so far. Had this Pandemic not hit all projections were that by 2021 India wuld have bounced back to 7% or around.
Everyone is impacted, even we ran our house from saving for months but i am not complaining because frankly this is an unprcedented situation. I hope someone puts out the data on economic projections before Pandemic hit, Pandemic CFR & RR to give a true picture.
There is always a positive side to it & probably we as a nation have done far better than the dooms day prophecies by proffessional pessimists.
Trump did not lock down in time & look how America botched it up even putting the best American economy in decades to sham, bad nos on deaths & worst infected ratio in world with an average recovery rate. Something that has potential to derail Trump Campaign 2020 though unlikely.
This when America population is 28-30 crores and a far better Health Infrastructure in place. The Herd Immunity of concept of Sweden can not be implemented in India given Herd immunity requires a significant exposure to virus which would have been disaster given our population.
Herd Immunity concept is not realistically not possible in India then only option was timely lockdown delaying the spread of virus and giving time to health care responders & sector to prepare for inevitable rise when we open up as we did in June 2020. It is the only strategy.
