Although the impact of Coronavirus has started showing the impact on the economy, Finance Minister Nirmala Sitharaman believes that there is no need to press the 'panic' button right now. Along with this, he said that in the event of non-control in three weeks, it can become a challenge. At the same time, he said that the pharma and electronics industry has proposed to airlift essential raw materials from China, which the government is considering. Most of the raw materials for the pharma and electronics industry are imported from China.
Also, if there is no provision of raw material for the pharma industry, the price of medicine at the domestic level may increase. Last week, the Finance Minister had a meeting with the industry to take stock of the raw material coming from China. At the same time, steps can be taken by the government to keep the supply chain smooth. Atanu Chakraborty, Secretary, Economic Affairs, Ministry of Finance said on Friday that our domestic development will not be affected by Corona. With this, he said that not all aspects of the corona have come out yet, so not much can be said.
On Friday, Vivek Zhang, co-founder of Kirin Crayons and former CMO of Vivo India, during a discussion on India-China trade, said that more Chinese companies have started work this week. In addition, he said that the head of China's National Health Commission has assured him that the situation will be completely under control by the end of April. So far, about 2,900 people have been killed by this virus in China and thousands of people are said to be infected with the disease. At the same time, due to coronavirus, there is a tremendous decline in the stock markets across the world.
Also Read:
Government not to change farmers' share of premium under Pradhan Mantri Fasal Bhima Yojana
'Stability in Economy is a good sign', says Nirmala Sitharaman
These veterans lost $ 444 billion due to Corona
Airtel pays 8,004 crores, claims compliance with SC judgement