21/03/2020
(𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗻𝗲𝘄𝘀 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝘁𝗼 𝗖𝗼𝗿𝗼𝗻𝗮 for 𝗚.𝗦 )
• 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐓𝐚𝐬𝐤 𝐅𝐨𝐫𝐜𝐞’
To deal with the economic challenges caused by the COVID-19 pandemic, ‘COVID-19 Economic Response Task Force’ will be created
It will be headed by Union Finance Minister.
The Task Force will consult stakeholders, take feedback, on the basis of which decisions will be taken to meet the challenges.
• 𝐋𝐨𝐩𝐢𝐧𝐚𝐯𝐢𝐫 𝐚𝐧𝐝 𝐑𝐢𝐭𝐨𝐧𝐚𝐯𝐢𝐫
These are anti-HIV drugs
This drug combination isrecommended by Union Health Ministry to be used on a case-to-case basis depending upon the severity of the condition of a person having coronavirus infection.
𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐢𝐬𝐚𝐬𝐭𝐞𝐫 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐅𝐨𝐫𝐜𝐞 (𝐍𝐃𝐑𝐅) 𝐩𝐮𝐭𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐠𝐞𝐧𝐜𝐲 𝐩𝐥𝐚𝐧𝐬 𝐢𝐧 𝐩𝐥𝐚𝐜𝐞 𝐭𝐨 𝐟𝐢𝐠𝐡𝐭 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗
NDRF was established in 2006 under The Disaster Management Act, 2005
It comes under Ministry of Home Affairs
It is the only dedicated disaster response force in the world
It works under National Disaster Management Authority (NDMA) which lays down policies, plans and guidelines for disaster management.
Capabilities for undertaking disaster response, prevention, mitigation and capacity building
At present there are 12 battalions in NDRF (three each from the BSF and CRPF and two each from CISF, ITBP and SSB) which are deployed strategically across country to provide immediate response.
All battalions have been equipped and trained to respond natural and man-made disasters including chemical, biological, radiological and nuclear (CBRN) emergencies.
• 𝐈𝐛𝐮𝐩𝐫𝐨𝐟𝐞𝐧
WHO advised patients suffering from COVID-19-like symptoms to avoid the drug ibuprofen, unless prescribed by doctors.
It is an anti-inflammatory drug that is easily available with chemists in India, and can be purchased without a doctor’s prescription.
Ibuprofen, a non-steroid, is used for relief from joint pain, migraine, fever, body ache, and even pain during the menstrual cycle.
Its function is to reduce pain, swelling, and fever by suppressing substances that produce swelling in the body.
Other non-steroid anti-inflammatory drugs include aspirin, cortisone, naproxen and diclofenac.
𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐃𝐢𝐬𝐞𝐚𝐬𝐞 𝐒𝐮𝐫𝐯𝐞𝐢𝐥𝐥𝐚𝐧𝐜𝐞 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞 (𝐈𝐃𝐒𝐏)
All pneumonia patients must be notified to the IDSP so that they can be tested for COVID-19
IDSP is an initiative by the Ministry of Health and Family Affairs started in 2004 with the assistance of World Bank.
:
To strengthen/maintain decentralized laboratory based IT enabled disease surveillance system for epidemic prone diseases to monitor disease trends
To detect and respond to outbreaks in early rising phase through trained Rapid Response Team (RRTs)
Programme Components
Integration and decentralization of surveillance activities through establishment of surveillance units at Centre, State and District level.
Human Resource Development – Training of State and District Surveillance Officers, Rapid Response Team and other Medical & Paramedical staff on principles of disease surveillance.
Use of ICT for collection, collation, compilation, analysis and dissemination of data.
Strengthening of public health laboratories.
Inter sectoral Co-ordination for zoonotic diseases
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗: 𝐁𝐥𝐮𝐧𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐚 𝐩𝐚𝐧𝐝𝐞𝐦𝐢𝐜
Prime Minister Modi constituted the task force under Finance Minister to assess the economic impact of the pandemic and suggest palliative measures.
The following are some suggestions for the task force
*Cash transfers
Casual Job workers like construction workers, cab drivers, restaurant waiters, mall workers, domestic help, itinerant retailers are either already without jobs & incomes or will soon find themselves in that position.
Cash transfers of a fixed amount to these vulnerable sections would be useful.
There are 33 crore accounts under the Pradhan Mantri Jan Dhan Yojana that can be leveraged for this purpose.
There is also an efficient Public Distribution System prevalent in most States through which the beneficiaries can be identified for a cash handout.
Cost Estimation: A transfer of ₹1,000 to a total of 23.53 crore ration card holders will cost the Centre over ₹23,500 crore
Hong Kong announced a cash handout of HK$10,000 to every permanent resident as a supportive measure.
The United States is also weighing the option of a cash handout totalling $250 billion to its citizens.
*Loan guarantee
Service industries such as airlines, hotels and restaurants and tourism have begun to feel the impact of COVID-19 and in course of time it will extend to the manufacturing sector as well.
There will be revenue and profit issues to deal with later but the immediate crisis is one of cash flows.
Banks are also not going to offer any accommodation to these businesses given their own issues with NPAs.
This is where the government can offer loan guarantees to affected businesses.
For a start, government can provide guarantees to working capital loans and link it with assurances from the borrowers concerned that they will secure the jobs in their companies.
Britain has pledged £330 billion of government-backed loans and guarantees, France and Spain have announced €300 billion and €100 billion aid, respectively.
*Mortgage holiday
An equated monthly instalment (EMI) holiday can be a huge blessing for individuals and businesses when faced with a job loss, salary cut or loss of revenue.
A three-month mortgage holiday should be coaxed out of lenders by the government for businesses in obvious trouble and to those employed by such businesses.
RBI should show regulatory forbearance in the matter of asset recognition for banks when it comes to these industries.
There are other helpful actions that the government can take such as
Promptly discharging its bills
Refunding taxes without delay
Promptly carrying out direct benefit transfers already budgeted for
If necessary, even permitting affected businesses to temporarily delay payment of statutory dues such as provident fund and ESI.
*How to finance?
Cooperative Federalism: The resources of the Centre and the States have to be pooled to develop a national response to economic challenge posed by COVID-19 pandemic
Kerala, for example, has already announced a ₹20,000 crore package and other States may follow suit
Leverage Private Expertise: The government will have to engage with the private sector while devising assistance measures.
Bonds: A well-structured, tax-efficient bond issue can be an option to tap into the large pool of domestic savings. The large Indian diaspora can also be tapped into.
The government needs to come up with financial action plan involving all stakeholders (States & private sector) so as to tide over the crisis caused by the pandemic
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