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Vinay Kumar Nevatia: Global Recession due to Coronavirus Outbreak Will Stay Long

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Coronavirus outbreak is causing damage to the Global Economy. Severe problems such as recession, bankruptcy declared by airlines and travel agencies are forcing the government of each country to make tough decisions. Foreign investors have pulled out $16 billion from India and $26 billion from developing Asian counties. The reason being, almost all countries need to maintain financial peace.

Vinay Kumar Nevatia : Economic Crisis amid Coronavirus Outbreak.

Vinay Kumar Nevatia shared his views on coronavirus effects on the Economy of the Country. Many countries, including India, the USA, Italy, crossed 1 lakh corona cases. The lockdown period is increasing in all countries, thereby shutting down most of the businesses causing the economic crisis. Only essential companies during this pandemic are not enough to cover the Country’s financial balance.

The coronavirus outbreak started in Wuhan and soon became a pandemic, has disorganized annual financial plans worldwide. Thousands of people are suffering from the virus each day and even more the next day. The virus has infected millions of people and the death rate due to the virus is uncertain every day.  This not only is causing horror in people but also affecting day to day activities that hold the Country’s economy together.

The current situation is, some of the businesses such as IT sectors are allowing their employees to work from home. Some multinational companies even extended the work-from-home period for 2 years for more than 70% of employees. Salaries have been adjusted to survive until the pandemic ends.

However, other areas like construction sites, international manufacturing are not being able to work as effectively as work-from-home limits their activities. So, to bring the world economy back to normal, a vaccine on coronavirus is important. Because the cases might reduce down, the lockdown might lift, but the virus spread is uncertain. Many countries are still in the early stages of the virus spread. The pandemic might not end soon as per WHO.

How the Government is Planning to Control the Economic Crisis during Coronavirus Outbreak

To overcome the economic crisis, India or other countries having more than 50,000 cases and extended lockdown need to come with a solid financial plan. As of now, the USA, with more than 1,603,700 corona patients,  is facing a 4.8% fall in GDP. Recently, a lot of companies had to lay off a lot of employees from various domains as the company no longer afford to pay them. Considering the current economic situation, more people might lose their jobs. 2020’s economic crisis is bigger and worse since the 1930’s depression.

India, China, and Indonesia are the only three countries that had a positive rate of economic growth during this pandemic.

Vinay Kumar Nevatia talked about how countries are trying to deal with such a big crisis. China’s central bank has come with a plan of $80billion, which will allow struggling businesses to take loans. India released a program of 20 lakh crore package to support the Country’s businesses financially. In Germany, around half a million companies applied for the government’s short-term programs to avoid layoffs.

Berline has applied a budget-balancing program called “Black Zero” by allocating 10% of GDP to help businesses. Likewise, the UK, Japan, and the rest of the world are launching their own budgeting plans to balance the economy.

Nevatia says, “Even though countries are allocating packages, the crisis will not go steady until 2021. It all depends on how long the vaccine development will take and how soon it will be sent all over the world.”

As of now, new drug combinations are being developed for the fast recovery of COVID-19 patients. The development of vaccines is showing progress; thousands of testing kits have been developed to control this contagious disease. Recently, Bangladesh discovered a new drug to cure the patients of coronavirus within a week or less.

Vinay Kumar Nevatia, while talking about the economic crisis worldwide, talked about allowing a few trains and airlines. By setting up ground rules of traveling from Green, Orange, and the red zone, travel industries can slowly resume their jobs.

Resuming, some of the electronic manufacturing businesses would be beneficial for the Country’s Economy. Least affected green zones in countries can be a target to reopen some of the non-essential businesses. Companies that manufacture parts of smartphones, hardware can gradually start the production by allowing a limited crew on board. E-commerce businesses are also gradually reopening and delivering essential and some of the nonessential items in specific areas by maintaining safety measures.

Vinay Kumar Nevatia also added how some motor manufacturing businesses are talking about gradually resuming manufacturing by following lockdown rules and sanitation. However, this all depends on the spread of COVID-19. Rebuilding the entire Economy will take time as the coronavirus pandemic has stopped a lot of international businesses and trading. The proper coronavirus cure needs a few more months to set a mark considering the production speed of the vaccine and effective drugs. 

Now the Indian government is allowing short distance traveling on two-wheeler and four-wheeler with a set of rules. The government is trying best to maintain the overall peace in the county. Some cities are even showing improvements in the rate of recovery. Some of the states in India have zero cases where businesses are resuming thereby rising the financial situation a little bit. Vinay Kumar Nevatia also reminded people about day to day hygiene such as wearing masks and frequently washing hands. People need to follow the safety measures even after lockdown lifts. That way the coronavirus outbreak will stay under control.

“It’s important to maintain social distancing yet providing a helping hand to needy people during this quarantine period will help the countries recover faster. Considering the situation, every citizen should act responsibly to end the outbreak of the coronavirus.”, Said Vinay Kumar Nevatia.

Name: Vinay Kumar Nevatia

Company: Nevatia & Co.

Email: vinaykumarnevatia@yahoo.com

Website: https://vinaykumarnevatia.co.in/

Country: India

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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Bringing clean water – Christopher Kenny’s Preservation Earth Project

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Science plainly shows that a human can survive three weeks without food, yet most individuals cannot survive three to four days without water! Dehydration sets in, and the person will go into shock and become vegetative even if they continue to breathe. In other words, water is an essential requirement. A living thing cannot thrive without it. Nonetheless, it is a horrifying truth that billions of people worldwide lack access to safe drinking water. 

In developed countries, when everything from technology to luxury is available, receiving clean water at home is as ‘natural’ as breathing fresh air. Most individuals in advanced nations may not pay much attention to it, but this is not the case for the rest of the globe. Many countries continue to lack access to clean water sources or water appropriate for human use. Safe drinking water, sanitation, and hygiene at home should not be limited to the wealthy or those who live in cities. These are some of the most fundamental human health requirements, and all countries must ensure everyone has access to them.

The Preservation Earth Project (PEP) made its way to Tsaile, New Mexico. Over time, uranium mining, fracking, and pesticide abuse damaged the water supply, resulting in a high occurrence of numerous illnesses. Approximately 35% of the Navajo people do not have access to flowing water, and some must go to a remote location to fill barrels with water from a polluted local spring. 

There is no doubt that climate change is boosting storm strength. Recent natural catastrophes have heightened the need for groups to step up and give support, answers, and relief to individuals affected by such natural disasters. The Preservation Earth Project is a non-profit organization that provides support, education, and solutions to help society transition from fossil fuels to renewable energy.

A look back at Christoper Kenny’s life

Chris Kenny was born in Summit, New Jersey, on May 4, 1961. He was one of twelve children. In 1980, he received a B.A. in economics and finance from Warren Wilson College in Swannanoa, North Carolina. He also attended New York University, earning a commercial real estate management degree from the Schack Institute. Since 2018, he has served as the head of Strategy and E-trading at Hartfield, Titus, and Donnelly. Kenny started his career in the U.S. In 1985. He worked as a Treasury Bond Broker. He formerly worked at Bonds.com as the director of fixed income sales and technological development. His academic background is in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent demand as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity.

He used solar power on mobile platforms as a backup power source for emergencies, water purification, and water pumping.

His academic credentials are in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent need as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity. He has over 38 years of experience in finance as a salesperson, broker, trader, and investor.

Making clean water available to everyone

In 2012, Kenny founded The Preservation Earth Project, a 501(c)(3) non-profit organization. It provides assistance, education, and alternative energy solutions to help society shift to renewable energy. It was involved and aided Haiti several times after the 2010 earthquake, providing portable solar electricity for water purification and medical facilities. In 2020, the business devised a solution for the Navajos’ contaminated water source. They collaborated with engineers and local officials to build, produce, and install a solar-powered water filtration system for the Navajo people of Tsaile, New Mexico. Other activities have included providing portable solar power to the “Cajun Navy” for rescue and clean-up in areas devastated by the 2015-2021 hurricane season in Louisiana. 

The project designed, delivered, and installed a solar-powered filtration system that will provide clean drinking water to the local Navajo community 365 days a year for many years to come. Several more initiatives are in the works to provide safe drinking water to Native American communities on the Navajo Reservation.

President’s letters of gratitude

President Jimmy Carter sent Chris two heartfelt letters encouraging him to continue his charitable work. He suggested calling Habitat for Humanity and asking if they were interested in collaborating on a few projects. He and Kenny both helped out at the charity. 

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