INDIAN MEDIA during Pandemic
Germany is considered to have the most stable and strong economy. In fact, it’s the country that is known for its economic power.
During the pandemic quarter,
• Germany’s GDP rate has been -11%.
• USA’s GDP rate has been -30%.
• UK’s GDP rate has been -20%.
• France’s GDP rate has been -14%.
• Italy’s GDP rate has been -13%.
• Sweden’s GDP rate has been -9%.
• Japan’s GDP has been -7%.
(When Sweden did NOT have any lockdown in place.)
• In this light, India’s GDP has also been -23%.
• The GDP of any country depends primarily on 3 factors:
• 1. Production
• 2. Expenditure
• 3. Income
• Now, in globalised world, these 3 factors are strongly regulated by Imports/Exports.
• When ALL the three activities were stopped in ALL the countries (for different period of time), how can Economy continue to expand.?
• Even in the countries where there was limited or no lockdown, economy contracted strongly. The reason being that many people stopped going out to produce, buy or trade. Global travel restrictions stopped imports and exports of produced goods.
• It’s very unprofessional of Indian media houses to target our government for the crash of economy in this quarter. It’s simply like brainwashing people and pushing their agenda through sensationalism.
• Even the headlines like worst growth in 40 or 50 years is factually correct, but misleading. When did we have a global pandemic that stopped all economic activities in every part of the world before.?
• Even a rich country like Sweden, which had NO forced lockdown, saw a MINUS 9 GDP. When people stop going out to buy things, or produce things (many companies gave WFH in Sweden on their own), how will economy not contract.?
• People who are questioning Modi exhibit that either agenda is above everything; or don’t have the capability to comprehend what a pandemic does to even the best of economies like Germany, France, Italy, Sweden, Japan, UK and USA.
• It’s easy to say in hindsight that lockdown in India was not needed, or it ruined everything.
• In a country like India, with absolutely poor health infrastructure, if there was no lockdown, the country would have been on heaps of dead bodies. It was lockdown that gave us time to prepare infra to reach 1 million tests per day and tens of thousands new beds that we created in this period.
• In not one country is the media targeting the government for this quarter’s negative GDP – be it Germany, Canada, Sweden, Japan, Italy, UK or France. Alas.!
Agenda reigns supreme in India.
Yuvamorcha.com, Economiclawpractice.com, Startupstreets.com