"Stop unnecessary expenditure": Sharad Pawar on economic impact amid coronavirus outbreak

While interacting with the citizens on Facebook Live, Pawar stated that people should refrain from spending money unnecessarily and warned that the economic situation looks “grim”.

"Stop unnecessary expenditure": Sharad Pawar on economic impact amid coronavirus outbreak
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Amid the 21-days nationwide lockdown announced by Prime Minister Narendra Modi on March 24 in view of the increasing cases of the coronavirus or COVID-19, everything has been shut except the movement of essential services and goods. 

No work and hence no daily wages has forced the migrant workers in the cities to move back to their villages amid the coronavirus outbreak. The nationwide lockdown has created huge panic among the working class including labourers in various major cities across India. The small scale factories have been forced to shut due to the coronavirus pandemic.

As this happens, Nationalist Congress Party (NCP) chief Sharad Pawar on Monday warned that everyone needs to be ready for the impact of the coronavirus or COVID-19 outbreak on the country’s economy as business activities remain non-functional. 

While interacting with the citizens on Facebook Live, Pawar stated that people should refrain from spending money unnecessarily and warned that the economic situation looks “grim”. 

Urging people to stay home in order to stop the spread of the coronavirus, former Union Minister Sharad Pawar informed that according to experts, the GDP would come down to two per cent. 

“We should be ready to brace the impact of looming economic crisis over the country as all types of business activities are suspended. People need to do away with their unnecessary spending habit for the next coming weeks as the country’s economic situation looks grim,” Sharad Pawar was quoted in media reports as saying. 

While responding to a query regarding economic crisis during his Facebook Live, Pawar said that almost all types of business activities have come to a standstill and it will have a long-lasting impact on the economy. 

In Maharashtra, the number of positive COVID-19 cases have increased to 231 while the death toll has soared up to 10 with one death each reported in Mumbai and Pune on Monday. 

An 80-year-old COVID-19 patient died in Mumbai on Monday at Fortis Hospital in Mulund. The man was tested positive for the coronavirus Earlier today, a 52-year-old man tested positive for COVID-19 died in Pune. 

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