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India’s corporate body says it’s time to reduce economic activity | Business and Economic Affairs


Billionaire Uday Kotak says a ‘big response’ is important in reducing the connection between the spread as cases and the death toll rises.

India’s leading corporations have urged regulators to take “the most serious action in the world” and reduce economic activity to save lives as the country grapples with coronavirus cases that have disrupted medical procedures.

The prevalence of new diseases was slightly reduced on Sunday but deaths have risen. Authorities have reported 392,488 new cases in the last 24 hours, forcing 19.56 million people to resign. Death jumped with 3,689 recordings, destroying the entire population to 215,542.

Billionaire Uday Kotak, general manager of Kotak Mahindra Bank, said on Sunday that “a major response is needed to cut through the transmission lines”, while building construction takes time.

He is speaking on behalf of the Confederation of Indian Industry (CII), where he is President.

“At this critical juncture as lives are rising, CII is encouraging developing countries as well as reducing economic activity to reduce stress,” Kotak said.

Hospitals are overcrowded, oxygen clinics are on the verge of collapse and mortuaries and crematoriums are flooding the country with a high number of cases: more than 300,000 cases daily for more than 10 straight days.

Complaining of the economic crisis, Prime Minister Narendra Modi’s government is unwilling to coerce the country. At least 11 countries and territories of the alliance have imposed certain restrictions.

India’s hospitals are on the verge of collapse as beds and oxygen stations run out [File: Prakash SinghAFP]

The Indian Express newspaper announced on Sunday that a group of workers in the country COVID-19 had advised the government to suspend the country.

The eastern part of Odisha and northern Haryana factories were the ones that announced the new weekends, after joining New Delhi, Maharashtra, Karnataka and West Bengal.

Other countries, including Uttar Pradesh, Telangana, Assam, Andhra Pradesh and Rajasthan have set a time for late-night or closed weekends.

Rise in production

Modi said last month all efforts should be made to prevent damage. He imposed stricter travel and economic events last year in the first months of the epidemic and the economy declined by 24% in the April-June 2020 quarter compared to the same period last year.

The second wave of floods also led to a shortage of medical personnel. Kotak said health workers cannot cope with the high number of patients, due to the growing cases that need to be encouraged.

Global aid has been coming.

Countries including the United States have exported essential oxygen, medicine and vaccine equipment. On Sunday, British Foreign Secretary Dominic Raab said his country would send more gas “soon”.

The Modi government has been criticized for not taking action in the past to curb the spread and for allowing millions of uninformed people to attend religious festivals and political rallies in five countries in March and April.

The Reuters news agency reported on Saturday that a government-sponsored scientific advisory team had warned Indian authorities in early March of an outbreak of coronavirus.


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