India may seem like a bad example when you look at the coronavirus cases but let's look at why its not .
A nation of Indias size and characteristics have to ensure that economy is kept alive for its population to survive and also meanwhile curb the virus from overwhelming the health infrastructure. Being a globaly responsible nation it needs to also look for effective testing methods and cures or vaccines.
India seems to have got a tick on all the three boxes.
On the health front
India has the second highest infected tally in the world after united states.
But is the situation really so bad?
Not really , even though the case count may look high when you look at the number of cases against the total population lets looks at the number of cases against a million population count (cases per million stands at 6040) as on 5th Nov 2020.
Considering that countries spending more than 100 X than India on health infrastructure has almost 10 times higher cases per million.
European countries , United states and all have cases per million crossing 30,000.
How did India manage to get it right then ?
India imposed a lockdown very early on and a very strict one spanning close to 2.5 months .Epidemiologists suggest that curbing the R0 or the reproductivity rate of the Virus is the crux of getting a hold on the pandemic.
India could not close itself from the world or impose an infinite lockdown which could have eradicated the virus (but has it really been efficient in countries which did so ), but would have pushed a lot of its people who depend on daily wages to perpetual poverty and sufferings.
The effects of lockdown was a complete shutdown of economic activity and lets say on peoples rights and civil liberties.
But considering enforcing an early lockdown to curb the spread has lead larger cases of recoveries than infection and ensured that the health infrastructure did not overwhelmed the health infrastructure.
Also the lockdown ensured that adequate testing facilities and PPE kits could be manufactured to fight the virus at volumes.
The strategy seems to have paid off , Indian case counts have followed a classic pandemic response model.
The lockdown did ensure that India has the highest recovery rate at 91 % of coronavirus cases and prepared our health infrastructure in advance for the pandemic. The death rates are lowest in the world at less than 2 %.
On the economic front
Indian economy has proved it mettle a few times now ,its proved once again its capability to support inherent growth and bounce back from any major economic disturbance.
People mocked the government at the time of lockdown and the finance minister during the lockdown , the previous RBI governor and economic advisor went on record saying the Indian economy is doomed and banks will sink with NPA’s.
The finance minster and economic advisor was the lone voice which kept saying that the Indian economy will be left unscathed .
They have been proved right again.The resiliency of the Indian economy has proved its mettle.
Banks have reported record profits and provisional low NPA’s all of which accounted for ,economic figures are bouncing back and the markets have shown a V shaped recovery.
Indian economy bounced back even before a vaccine came and FII’s and FDI is at an all time high with the highest foreign exchange reserves in our history as a nation.Landmark decisions on farming sector reforms and privatisation of PSU’s.
Government has used this as an opportune time to push more reforms and introduce more incentives to support future growth .It has rightly pitched in to support infrastructure as the next major spending area.
Kudos to #ModiGovernment for its far sightness and policy making .
We still have a long battle to fight but we got the right start.
The below is the link of an interview with Indias economic advisor,