India is reaping the “lockdown dividend” from the preventive measures it adopted at the onset of the COVID-19 pandemic indicating its willingness to take short-term pain for long-term gain.
Daily Current Affairs Quiz 2021
COVID-19 pandemic engendered a once-in-a-century global crisis in 2020 where 90 per cent of countries are expected to experience a contraction in GDP per capita and India’s efforts focused on saving lives and livelihoods by its willingness to take short-term pain for long term gain.
The Economic Survey states the example of Spanish Flu to prove the point that the timing matters – early and extensive lockdowns leading to greater delays in reaching peak mortality, lower peak mortality rates and overall lower mortality burden.
40 day lockdown period was used for scaling up the necessary medical and para-medical infrastructure for active surveillance, expanding testing, contact tracing, isolation and management of cases and educating citizens about social distancing and masks.
The Survey credits the flattening of curve and lives saved to the early lockdown imposed by the government.
While the lockdown resulted in a 23.9 per cent contraction in GDP in Q1, the recovery has been a V-shaped one as seen in the 7.5 per cent decline in Q2 and the recovery across all key economic indicators.
