Covid19 - A global Pandemic

Covid19 - A global Pandemic

Introduction

In the beginning of the year 2020 a virus named Covid19(Corona virus) started spreading from China and within few weeks it became a Global Pandemic which is affecting the livelihood of all the people in different countries around the world.Virus spread through physical contact from person to person.As there is currently no medicine around the world which can be used to treat the people infected by Covid19 so in order to reduce the spread of virus many countries had went under lockdown .There are many effects of  lockdown in different aspects.

Effects of this lockdown in different aspects in detail is given below:

1. Impact of lockdown on industries/Business:Due to lockdown all the companies and business shut down their operations for a specific period of time to get control over the spread of covid19. This step taken by the government affected the industries as if the industries would not do any operation then there will be huge shortage of revenue and many industries will face difficulties.And the industries also need to give salary to their workers and employees.So it will cause a huge decline in the revenue and profit of industries and many will face shortage of money in doing their operations after lockdown as most of the cash and bank balance in the companies would be used in order to give salary to their employees.So it will effect the industries badly.

2. Education and E-learning:As because of lockdown the schools and colleges around the world were also closed which resulted in effecting the study of students greatly.In order to overcome this problem the way of E-learning is being used by most of the schools and colleges around the world.Through the medium of E-learning the students are given classes online but this is not good for the eyes of the students as by spending too much time in front of mobile phones and L.C.D screen the retina of eyes becomes weak.E-learning is no doubt a better idea for study in current situation but the students should need to do their studies using books and they should need to spend less time online and more in books.They should need to gather the information online and clear their doubts online but they should not need to depend fully on E-learning.

 

 3. Work from home:Many of the industries and companies have given instructions to their employees to do work from home.But it is not easy as it seems to be.The people are also facing challenges in doing work from home.At home the person is not able to fully concentrate on His/her work as their may be many interruptions and also due to lack of productive environment because at home their can be another work which he/she may need to do like some household chores etc.Secondly working from home will also effect the productivity of the company as the work done from home will not be good as the work done in office environment.The person may face loneliness and also lack of people interaction to discuss their work also their can be communication issue and the person would not be able to prioritize his work.So overall the work done by the person from home will not be much effective.

4. Pollution and lockdown:   In aspect of pollution the lockdown has a good impact.Due to a heavy decline in use of vehicles, petrol and gases around the world the pollution in air declined sharply the quality of air is becoming good than before and the water pollution is also decreasing due to decline of running boats and ships in the rivers and also due to decline in people in beaches.All the companies and industries are shut down for a specific period so there is not thrown of garbage and chemical waste in rivers which is also beneficial in decreasing water pollution.The air quality index around the world became good and the water of rivers became pure also.The nature is enjoying this situation as the men has badly effected nature.The cutting of trees is also stopped which is also good for our environment.The percentage of carbon monoxide in air noted to be decreased by 50 percent approx.

5. Impact of lockdown on economy:The major effect of lockdown will be on the economy of all the countries around the world.The banks will face most difficulties during this situation.As the people who have taken loans from bank will face difficulty to pay their EMI on time this will result in increase of  NPAs (Non perfroming assests) of the bank.The people will also face shortage of money due to lack of work so they will spend money very carefully so many companies will face a decline in their revenue due to lower demand of their products.Only the household item will face a huge demand like breads, cereals, flour, vegetables etc.The companies which have low cash and low bank balance will also face difficulty and after lockdown they might need loan to run their operations. Many of the small cap companies and midcap companies are also under the threat of insolvency because they will face problem in running their operations. Not all the companies will survive this situation. If the situation becomes more bad then many companies will face difficulty to survive. If some of the companies around the world will not survive this situation then their will be huge unemployment’s sales and revenue of public gathering companies like hotels, theaters, airline etc will also decline sharply. The GDP of the countries around the world may also decrease which is not good for the economy of the country. Also due to increase in number of patients and deaths around the world , the company will also face decline in demand of their products. Only the pharma sector companies and FMCG sector companies will see increase in demand of their products. Overall the effect on economy might be very bad and it can also result in financial crisis and recession around the world like before in 2008-2009.

AUTHOR:

Garima Garg 

(192892100011, D.Pharmacy 1st sem)