Few things that I foresee, sitting here in Delhi after scanning through the latest reports and news, and now penning them down.
In one of the previous blogs of mine I had cited that the Great Depression is approaching (I do not want it that way), based on certain findings and intuitions. Now that I heard RBI governor while addressing the nation (17th April 20) the central bank has injected tons of cash in the system to offer to cushion to the nation’s financial edifice. This is to ease the stress on financial institutions and to maintain liquidity. It has assured periodic reviews as and when the need arises. The role of central banks will play a very decisive role in building up constructive narratives for the businesses in India. Prognostications issued by IMF on the world’s economy are calamitous. A resilient vicious circle is created due to this pandemic posing a direct threat to the health of people, the mental state of people. Monetary position of the common man is deteriorating and eventually, it will collapse in a few days (in many cases it has already taken a hit especially for the daily wage earners and people at the bottom of the Pyramid).
The government’s intervention is very crucial and vital. We need an answer to address this menace and a very robust single unanimous WILL to come out this crucial time. Uncertainty will rule and economic panorama would be fragile in the times to come. Growth cannot be replaced by sops and aids but is a great breather and surely can help the economy to float for a while. Great Lockdown as coined by IMF’s counselor is itself suggestive that sailing through this stretch would be quite rough.
I am reminded of a virtual game “FarmVille” and see that something similar might get replicated in our life. Some take home for all of us:
Unemployment will be at its peak, will surpass all previous records.
Income gaps will widen up among haves and have-nots.
CryptoCurrency may make a strong comeback.
New world order will crop up post-COVID 19 with wind flowing against China. International focus will shift to India as a new favourable manufacturing destination. Opportunity is right as of now but needs the right positioning and exposition.
New hygienic practices will be revisited that all of us used to observe (in Hinduism once upon a time) in our day to day life.
Adoption, Acceptance, and expansion of virtual meetings, hearings, attendances, conferences, currency, Board meetings, Digital Events, Digital Sports events,
Millennia will experience a rise in diabetes and hypertension. Suicidal and depressive moods will see an upsurge.
Currency exchange will be history soon. No more stacking of cash.
AI, IOT, Big Data, Bots, Robots will be in and will be part of critical infrastructure.
Non-essential economic activities will take back seat including tourism.
Virtual Legislating in lawmaking. Virtual would be preferred and offered compared to one and one meetings as they will also save time & money.
Technology for connectivity will see new frontiers.
In the medical field Telemedicine, Telehealth, Practice will gain momentum.
Leadership roles will be viewed with a new definition. The elected people may handover the reins to able Or only able elected will outshine and will be visible.
Ayurveda, Yoga, Meditation will take a front seat, and people in Wellness business will witness an upward curve in their financial books.
Despite all calling and cautions Human mind tends to forget things and events. Humans are Humans because they touch, feel, related, converse, and socialize. Togetherness is in their gene, they live in herd and form communities. It’s all inherent. Hence in all probabilities, something similar or rather the same in a different format will strike back.