New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.
"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. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.
Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.
"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.
In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.
"This time, there will be no victors, only the vanquished. So every country will have to create its own post virus war 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," Mahindra said.
Comments
The day is not too long to fight for Muslim Freedom/Indipendent - India will FIRE....
That means bakht indian are easily fooled by their cheddi leaders from knowing the TRUTH of WORSHIPING ONE GOD... (NA TASYA PRATIMA ASTI) and these cheddis very easily CONTROL these IGNOrANTS of their GOD given LIFE and BLIND them from understanding their own religion .... Swami AGNIVESH is telling the TRUTH but cheddis blinded the Bhakts so shakuningly that they ignored truth and and stand with the cheddis cos of their religious IGNORANT... Learn from AGNIWESH, cow is not your mother or God its an ANIMAL created by ONE MERCIFUL GOD for human sustenance thru milk or meat... Human beings are an intelligent creation of GOD, if they dont try to know this ONE GOD who created all that exists, then they are really easily FOOLED by the evils of the Society. Wake up guys dont be FOOLS of our time
Yea there is no wonder if one day may afgan talaban enters india to sacrifice their life to protect muslims from crime of saffron talaban killings of innocent muslims.
Well said Mr. Taroor. You are totally right. Even its dung has value also.
Safer to be 'a ugly than a wife of Shashi Tharoor: Sunanda Pushkar
Add new comment