economy status after corona

Economy Status After Corona

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People’s lives across the country have come to a standstill due to the government’s lockdown on the spread of the Carona virus. The government provide the responsibility to the National Planning Commission to conduct a detailed study on the impact of this on the economy.

As the government’s advisor, the responsibility of the Planning Commission is to work on short-term, medium-term and long-term planning. However, after the responsibility comes from the special decision, the commission works on it with importance.

Save lives and livelihood

First of all, we have to avoid getting infected with a deadly disease like corona virus. Everyone’s life has to be saved.
In this process, some responsibilities have to be fulfilled from the people’s level while the government and other responsible bodies have to do their job.

In order to save lives, the government should spare no effort in ensuring health security, regular supply of health supplies, testing and making infrastructure accessible to all. The government should also play a role in ensuring easy supply and distribution of daily necessities and maintaining peace, security and order.

In the meantime, the state should prepare a plan on what can be done to save the country from a possible economic downturn. The government should come up with an action plan to reverse the cycle of employment, production and distribution.

Financial management

It is not possible to fight with Corona with regular allocated budget. It requires special financial preparation.

At that time, the government has already started financial management. The government is also looking for some new sources of financial management. The government is doing its homework on grants and concessional loan measures. Funds can also be raised from internal sources. In this process, we must be careful to keep inflation under control

Analysis if the affected area

After the protection of livelihood and financial management, one has to go for the third step under Post Corona Need Assessment (PCNA). Under this, an analysis of the areas that have been severely affected by covid is necessary.

It has the biggest impact on public health, service sector (tourism), transportation (aviation), hotel-entertainment services, education, industry, trade, small, home and medium enterprises and production and distribution of agricultural commodities. Now the impact on these areas is analyzed.

Corona has two effects, both inside and outside the country. The world is now fighting Covid. Therefore, Corona has an impact on our foreign investment, import-export, foreign employment, remittance income and even tourist arrivals.

Corona is the first to have a negative impact on employment opportunities. Therefore, people will have to create additional opportunities for their livelihood. A plan should be brought to secure the manpower working in the tourism sector or to take it to other sectors.

Possibility Area to Encrease Economy after Corona?

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