Every country will have to create its own post - virus war marshall plan and take care of those in society who are hit the hardest.
As governments and businesses across countries are busy finding a way to fight coronavirus, Mahindra Group CEO Anand Mahindra has said that creating a post-virus war marshall plan is also very important. “The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time,” tweeted Anand Mahindra. He added that small businesses, the self-employed and those whose lives depend on meager daily wages, will be the hardest hit. Comparing the possible aftermath of Covid-19 with the second World War, he said that the coronavirus may mark its exit with deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest.
This time, there will be no victors, only the vanquished. So every country will have to create its own Post ‘VirusWar” Marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle (4/4)
— anand mahindra (@anandmahindra) March 19, 2020
With a reference to the aftermath of World War 2, Anand Mahindra said that the US came up with a giant fiscal pump-priming marshall plan to revive Europe, and the US govt dramatically dismantled regulations and opened up the economy to trade, which led to a sudden boom till 1975. However, he mentioned that this time the situation is different and thus every country will have to create its own post – virus war marshall plan and take care of those in society who are hit the hardest.
Meanwhile, the number of cases related to coronavirus in India is on a rise and has exceeded 200. In a step to arrest the spread of the virus, Prime Minister Narendra Modi has called for ‘Janata Curfew’ in his yesterday’s address to the nation, where he has requested people to remain at their homes.