GEC WRITHLON

Thursday, 16 April 2020

ARTICLE COMPETITION Thursday, April 16, 2020

OFFSITE WORK: Difficulties to possibilities

COVID-19, a name which you used to hear more than you hear your name in a day in a current environment, isn’t it?

COVID-19 has been declared a pandemic by World Health Organization due to a situation of complete lockdown became a necessity. But all we can do to get rid of it is staying at home and perform your responsibility that is working from home. A majority of companies along with institutions have rolled out mandatory remote work or work from home clause.

Though working from home sounds to be very easy and comfortable, but still there is no-brainer that the challenges of this scenario are multi-fold, and it is way different that how you’d work from the office. So, whether you are new to the virtual work scenario or a veteran, there are number of challenges you might be facing.

Working from remote areas can seem like a dream come true for a number of employees sick of their morning commutes. But this commute usually helps to maintain a predetermined time table which is a symbol of DISCIPLINE work.

TIME MANAGEMENT

If there is no force of 9 am to 5 pm schedule, it will be hard to maintain a proper work time and completing the work up to that benchmark. An hour of work can go for 3 to 4 hours overtime effort, reason being, lack of discipline.

CARE FREE ATTITUDE

At home, who is the manager and where are your co-employees? Well, because of absence of collocation of employees or co-workers, there will be nobody to consult with or taking suggestion by whenever you find any problem. Linked with, having no one who can look over your shoulder and keep you focused, will raise loneliness in one’s behavior. This will lead to decline in the efficiency and effectiveness of work.

FURTHER, work environment matters a lot in the effectiveness of goal. And working from home is a way different from working at your workplace. Therefore, the challenge of ATMOSPHERE is the essential one.

DISTRACTIONS

Suppose, you are attending an online conference meeting and your mother gives you a loud call from background…..!!! Sounds humorous but is a real issue. Distractions at home are infinite whether it is call or anything else.

COMMUNICATION GAP INCLUDING TECHNOLOGICAL AMENITIES

Virtual teams miss the actual direct interaction while sitting alone at working table at home. Even though, technology gives a number of platforms for performing remote work like Skype, video calling, audio calling, online lecture delivery, file transfer, emails etc. But the issue is connectivity and network. Along with that, body language and expressions of one have the power to communicate half of the message without saying anything and this power is totally out of reach in case of remote connection.

DEDICATION TOWARDS WORK

If you are assigned with a work in office for which you will be accountable after an hour, of course you will be dedicated towards it. But what if the same work is allotted to you at home? It might take 3 to 4 hours because it’s a human tendency to take the non-accountable things for granted. For instance, work at home keeps the spirit and motivation of work down.

CYBER SECURITY RISKS

Whenever the word ‘digital’ comes in mind , it take its negative aspect along with it that is ‘risk of hacking’. Even digital working is not risk free as it includes number of different viruses, risks, hacks, etc. For a company , its secrecy matters a lot for its progressive in the competition work. Cyber crime can detected but is of no use once the data has been stolen or got viral.

SLOWER BUSINESS DEALINGS

We all must have heard about urgent meetings. They are called urgent because they need to take some instant business decisions but they are possible only because of physical presence of necessary members. And this presence is not possible while working offsite which ultimately slow down the decision making and dealings.

CHALLENGE ARISE IN E-LEARNING

Students and teachers are continuous engaged in their work. Online classes, lectures, audio lectures, online assignments, tests, etc. everything is going on. But it’s too consists of numbers of difficulties;

LAZINESS

A student can’t sleep during a live face to face lecture and can be caught if he or she does so. But unfortunately, it’s no more difficult during an online class or lecture so it implies that excuses and care free attitude of unaware students will go on increasing.

LACK OF TRANSPERANCY

A student’s behavior regarding studies can be judged by personal direct interactions. Remotely, he or she can cheats easily, use any other source of just showing that he or she is serious for studies. So, online leactures and e learning are hardly taken on a serious note by students and also decrease the transperancy in responsiveness of students.

PROSPECTS IN REMOTE WORKING

Every coin has two sides. Likewise, working from home is a way demanded by most workers and the reason being ‘comfortable zone’. Still, there are more positive aspects of remote working;

· TRANSPORTATION COST;

Transportation cost directly decreased from remote working. Its cost sometimes incurred more than one expects. So there is no need to visit anywhere , just sit on your bed couch and perform your responsibility.

TIME SAVING;

Waking up at 5 am , getting ready upto 7 am , leave from home at

7:30 am and reached to workplace at 8 am…!! Sounds stressful,isn’t it?

Now take aspect of working from home, there is no such issue of timings. Therefore, remote working doesn’t demand bathed suited employees on time, work is what all matters. So, it ultimate save the time. Pressure of getting late for an employee gets eliminated.

INCREASE COMFORT ZONE;

As when hear the working from home concept, first thing stuck in the mind is COMFORT . The environment of home is way far stressful than of office because you can sit the way you want, you can take the break as if u need, there is no one standing over your shoulder, you can have your snacks while preparing a presentation sitting over your couch, which is much more comfort than your cabin of office. Hence, it is major factor considered.

CONCLUDING WITH;

A hindi idiom says “JAAN HAI TOH JAHAN HAI” .You can work only if you are healthy and alive so working from home is much better than getting infected.The duration of the lockdown is uncertain, and companies will have to extend the work-from-home policy.Work from home is going to stay even after COVID-19 scare got overed.

Make the most of this unique opportunity to work from the comfort couch and fight a pandemic by understanding the variety of challenges it poses to your everyday lifestyle and coming them. Ending with a trending and meaningful hashtag #stayhome.

THANK YOU.

And

"TAKE CARE OF YOUR HEALTH AND PROTECT OTHER BY DOING THE FOLLOWING"

AUTHOR:

Drishti Varma

BFSI-2nd semester

49190413

GEC WRITHLON 465

ARTICLE COMPETITION Thursday, April 16, 2020

IMPACT OF LOCKDOWN ON ECONOMY

Introduction:

Across the globe biggest lockdown which shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, has also concerned issue in India economy where this biggest lockdown has been followed by Indian government successfully to control today this faced pandemic (COVID-19).

However, this lockdown would be seems to many individual differently, but according to analysts and industry bodies prediction it would be directly and indirectly caused country economy minimum Rs. 7-8 lakh crore during this first determined 21-day period!

Purpose of Review:

The article would describe:

The current lockdown challenges impacts on country GDPs.
Three common economic sector of a country which have been much effected due to this lockdown.

CURRENT LOCKDOWN IMPACTS ON COUNTRY GDPS:

https://aniportalimages.s3.amazonaws.com/media/details/GDP2.jpg

According to the a survey conducted by Statista the coronavirus which has brought this lockdown generated many challenges not only to the nation but also impacted all countries’ GDPs, where many country economy which effected by the lockdown, will be the lower global GDP growth in 2020, the effect radiating as far as Europe and the U.S. and even setting back global growth forecasts by 0.2 percent, which effects differently depending to re-normal their country economy activities.

IMPACT OF LOCKDOWN ON INDIA GDPs:

Comparing the worldwide data impacts on country GDPs; India, with an annual gross domestic product of approximately Rs 210 lakh crore, will lose about 4% of its GDP during the 21-day lockdown period.

One month of lockdown could potentially defer discretionary consumption of $45 billion on a pan-India basis, while if lockdown remains concentrated on urban areas it would have the impact of $22 billion,” said Prithviraj Srinivas, economist, Axis Capital.

As the above statistic shows the lockdown impacts on the country GDPs reduction therefore, the country has to work hardly for coming to normal activities of economy where the losses would be recover in short time.

SECTORS OF ECONOMY EFFECTED DUE TO LOCKDOWN:

Country economy is depended on various activities, where this ongoing lockdown effected every sector severely, thus; I will just put in context some important sector here as I am trying to reduce the length of the article with better image of understanding of these sectors linked with cause of GDPs.

CIVIL AVIATION SECTOR:

The India Aviation sector contributes $72 bn to GDP with having 464 airports and airstrips, from which 125 airports are owned by (AAI) Airport Authority of India. Hence; this growth in the country economy has increased the 8% of Gross Domestic Product and this high growth rate will be sustained for a good number of years, but unfortunately nowadays this sector domestic and international flights are not operating which cause directly the country GDPs very hardly, however; many diplomatic deals, tourist, students, products deliveries from overseas as well as from India and etc, are suspended due to international flights not getting on time.

AUTOMOBILE SECTOR:

In India Automobile sector is one of the largest sector in the world which accounts India's gross domestic product (GDP) over 7.1%. It contributes country's nearly 22% of the manufacturing GDP. As we have been recently witnessed the world’s biggest lockdown to contain the coronavirus pandemic stalled operations, Automakers in India would be witnessed the worst-ever slump in sales as a prolonged slowdown.

According to auto industry report passenger vehicle sales in India 2019-20 fell to 17.82 % over last year—also the worst ever—to 21,548,494 units.

March 2020 was one of the most challenging months for the auto sector as the 21-day lockdown resulted in bringing the production and sales of vehicles to a standstill, Rajan Wadhera, president at SIAM, said.

Conclusion:

To sum up the above detailed information regarding the impact of current pandemic lockdown on Indian economy; where the fresh cases of coronavirus rise in India, the nation has started witnessing second-round effects of the virus spread has been a complete halt to economic activity, however; as the government has the responsibility to save nation lives, the lockdown came into effects with brought many challenges not only to the nation but as well as to business, transportation and especially this lockdown directly impacted the country GDPs. As this lockdown effected every sector severely, it will be worthwhile to mention for instance; “Automobile sector” where it is contributing gross domestic product (GDP) over 7.1%, which this 2019-20 year the sales of this sector in India would be in fell to 17.82 %.

AUTHOR:

MASOODULLAH "SAMSOOR"

(49180337, MBA 4th Sem)

GEC WRITHLON 808

ARTICLE COMPETITION Thursday, April 16, 2020

IMPACT OF LOCKDOWN ON INDIAN ECONOMY

INTRODUCTION

Corona virus was firstly founded in Wuhan (china) this virus is come from bats, snakes and other insects. Coronavirus causing illness from respiratory syndrome. this virus in firstly founded in 2019. When it spread vastly in India our hon’ble prime minister took an action to get relief from this disease by the mode Of junta curfew and lock down which cause a bad effect on the economy of India .

PURPOSE

It is unkind reality that we are now a decade old in the liberalized globalization era. The changes in the economy after liberalization and globalization process initiated since 1991 in India have impacted extremely the financial system.

SUBJECT MATTER

According to a survey of BCC news, after lockdown from 24 march till now India’s economy is affected by 7-8 lac crore till now which is a huge deficit in the Indian economy.

This occur due to the shut down of industries hostel and other MNCs these sectors are the main sector through which income is generated. lockdown 1 & lockdown 2 are the great steps which are taken by the respected prime minister to get rid from this virus. but this will impact harshly on Indian economy

THE MAIN SECTOR THROUGH WHICH INCOME IS GENERATED ARE :-

Hotels
Mnc’s
Industries
Railways
Import & export
Public transport etc.

With the shut down of these sectors Indian economy will fall down to 7-8 lac crore till now analytical and industrial bodies said.
The general secretary of all India motor transport congress(AIMTC) Naveen Gupta said that accumulated losses to truckers during the first 15 days of lockdown were about Rs 35,200 crore given an average loss of truck per day is 2200 Rs.
A loss of Rs. 1000 crore is suffered by real estate business in the period of lockdown
The educational sector also suffered a heavy loss with empty campuses face .

IMPACTS:

1)Slowdown in domestic demand. Due to less purchasing power.

2)Less purchasing power of customer due to lack of availability of money.

3)Losses of job due to lockdown situation.

4)Lower demand of commodities like. Oil gas & metals.

5)Fall down in GDP due to shutdown of various sector which generate income.

ACTION TAKEN

Companies should provide work from home.so the work will be done in continuity and there are less chances of losses to the companies
All Indian manufactured products are purchased by people of India. Due to which the GDP is intended to rise and only good quality product are purchased
There is restriction on imports of goods from other countries. Through which a lot of money is kept in India which is being used in another sector for the improvement of product
There should be e-learning courses provided by the education sectors. So that there is continuity in the examination patterns and study is not affected .
More and more Small scale industries are set up .Due to which production is done more and more and there is less need of import of goods from other countries

CONCLUSION

Seeing todays condition we must take precaution directed by the health organisation to get rid of this novel coronavirus. Since it impact harshly on the Indian economy . To grow the economy by taking some corrective action are taken. Since it’s a difficult task but not an impossible task to grow the economy. We must not panic or get frighten when all the citizen united can fight against this situation with ease.

AUTHOR:

KARAN POPLI

(49190333, MBA 2nd SEM)

GEC WRITHLON 54

ARTICLE COMPETITION Thursday, April 16, 2020

IMPACT OF LOCKDOWN ON ECONOMY

To control the spread of corona virus, the government of India decided to make lockdown for the entire nation. Corona virus disease (COVID-19) is an infectious disease caused by a newly discovered corona virus.

The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes. At this time, there are no vaccines or treatments for COVID-19. The primary way to keep safe ourselves and the only way of breaking the COVID-19 infection cycle; is to make social distancing. That’s why our prime minister of India Mr. Narendra Modi declared a three week nationwide lockdown from 25 March 2020. The first priority of our nation is to save life of an every single person because “If we have life, we have the world”. There is also a major impact of lockdown directly and indirectly on economy. The Indian economy is expected to lose over Rs. 32,000 crore every day during the 21-day-lockdown. Supply chains of row materials for the infrastructure and for the production of a company have been put under the stress with the lockdown restrictions in place. The live events industry has been an estimated loss of Rs. 3,000 crore. The 75% of India’s workforce is either self-employed or casual workers, they would be the worst affected during this lockdown. Sensex and Nifty market also have a fall down of 35% from January 2020, which is highest downfall in his history. During the lockdown; one of the major effect on the place of visits like; historical places, may be badly affected. Not only in India but also in the global economy, it will likely cost between $1 trillion and $2 trillion in 2020.

IMPACT ON TEXTILE INDUSTRIES:

The economic point of view, a major concern is the future of textile industry. The demand for textile products sales have come down to a grinding halt due to the panic situation created by the COVID-19. Due to the lockdown, all sorts of textile related factories are closed and it is tough to hazard a guess when those will be allowed to open. Workers have been running here and there amid all sorts of confusion. The business community is sacred on account of cash crunch, supply chain disturbance and manpower related issues. India has more than 2,000 spinning mills with different spindle capacity. Workers in big units controlled by corporations reside in labor colonies adjacent to the factory premises. The majority of workers are migrants from Bihar, Uttar Pradesh, Orissa and other states. At present they are being taken cared by the employers. Some workers were force to stay back in the absence of means of transport following the lockdown. Once the lockdown is lifted, there is a possibility that many of them will rush to their hometowns or villages. This will be result direct loss to mill owners. During this lockdown, textile industries stare at Rs. 12,000 crore loss and large amount of worker’s job at risk.

IMPACT ON SHARE MARKET:

The first two rounds of corona virus outbreak have wiped off Rs. 52 lakh crore worth of equity investor wealth, with benchmarks sensex and nifty languishing at multi-year lows after falling 35 % from their January peaks. The next third round of corona virus will be seen a hazardous impact on share market. Although, there will be no real statistics yet, how much negatively growth we see in the future.

https://akm-img-a-in.tosshub.com/sites/btmt/images/stories/Newstaffpics/worst-hit-graphics_130420092033.jpg

IMPACT ON GDP:

The quarterly GDP growth has consistently fallen since Q4 of FY18. If there is a deviation in Q4 of FY19, as shown in the graph below, it is because the National Statistical Office (NSO) revised its data on February 28, 2020, drastically cutting down growth rates in the first three quarters of FY19 (from 8% to 7.1% for Q1; from 7% to 6.2% in Q2 and 6.6% to 5.6% in Q3).

https://akm-img-a-in.tosshub.com/sites/btmt/images/stories/Newstaffpics/growth505_270320074308.jpg

What could be the magnitude of the impact of a complete social and economic shutdown may not be estimated easily, but it is likely to be far more severe than either the 2016 demontisation or the 2017 rollout.

IMPACT ON TOURISM:

India’s tourism sector with the industry estimating an overall loss of Rs. 5 lakh crore and job cuts 4-5 crore people. Sources in the Union Ministry of Tourism said the government is considering helping the sector with soft loans, working capital and deferment on loan repayments. The ministry itself, in a presentation to a parliamentary panel on transport and tourism last month, had pegged the losses at Rs. 5 lakh crore, quoting industry estimates.

Other than the organized sector, the tourism industry also gives employment to small home-stays, bread and breakfasts and small hotel operators and their services will also take a major hit.

There are many more severe impacts on Indian economy which hits during this lockdown, but once we overcome this pandemic situation of COVID-19 our economy will automatically get back on the growth track.

AUTHOR:

Rahul Kumawat

(4919136, B.Tech 2nd semester. )