Though the Indian government hasn’t officially announced anything about the lockdown yet, there are high chances if its extension till the end of the month. Already 5 states including Telangana have extended the lockdown on their own irrespective of the decision of the centre.
The analysis and epidemiologists say that within two days, the number of COVID-19 positives will reach 10,000 considering the exponential growth this country has been witnessing over the last 10 days. How the extension of lockdown is going to influence the country’s economy is the question in everyone’s mind. What impact it is going to create in people’s lives is the other one.
During this lockdown, many medium and small scale companies have been shut down and lakhs of the people have lost their employment that hit the economy very badly. The financial aid that was announced by state governments only benefitted the poor and the middle-class families haven’t been cherished by the governments yet.
Though the center has announced a 1.7 lakh crores rupees package, an analysis said that it is not at all enough to solve the existing problems of the middle-class people. After the completion of lockdown, the prices of the essential goods and the petroleum will soar sky-high.
India is going to witness the highest inflation rate in the last two decades and the people need to spend their money carefully under these critical circumstances. If this COVID-19 couldn’t be controlled within a month, the economic crisis that occurs cannot be handled for at least 5 years.