How COVID-19 is Affecting Indian Economy and Industries

Since it’s been almost a year that the COVID-19 has hit the world and it's being considered as one of the worst disasters mankind has faced in modern history. There has been a large number of people who got infected with this deadly disease and many of them died due to virus infection.

It’s a major upset for the whole world that to control the entire world get involved in the mass process of controlling the deadly COVID-19 disease.

There are many industries got affected by this deadly virus and the legal industry is one of them. There has been now “about 20 lakh” lawyers in India, by Dec 2019 according to the Bar Council of India and it was a great shock for all of them to survive in this pandemic, We have faced the situations and news came from many parts of the country where lawyers are committing suicide and forced to change the profession and start working on the other jobs, where they can fulfill their families’ basic necessities. It’s a big question to the survival of such industries in this situation where most of the people like legal industry are dependable on the bodies of the govt.

Since the courts are closed due to pandemics the lawyers in India must have to rely on their own as most of the part of the country has been affected by the disease and people are already having issues of survival where govt. is putting their efforts to make life normal on the present day where the news coming in the infection ratio is going up and going down because of the new strains of the COVID-19,

As there are a lot of other businesses which are reliable in the legal industry and where they have to be dependent on the legal profession and the situation is not so good that legal professionals can work accordingly on the requirements of the clients and other industries, Manufacturing and IT is more reliable on the legal industry where new developments and new projects are coming in and there have been legal remedies that the companies should take to run the wheels of the country’s economic cycle and most of it has been stopped due to slow functions of the courts and legal systems of India due to disease.

As one of the reports submitted by Amici Curiae shows that by December 31, 2019, the total number of criminal cases pending (in trial courts) was 2.31 crores, out of which 35.16 lakh pertained to Section 138 of the Act. Its been very clear that the cases related to the transactions have been pending before this pandemic was large in terms of numbers and after the lockdown and on completion of one year, there has been a lot of transactions has failed due to lack of money with people due to low amount of work and loss of jobs in the major industries that faced shutdowns and mass laid off, It's inter-connected that while people are not having enough money to survive in the pandemic and still as a part of the financial functioning, the banks are levy the charges on people for declining the payments of the loans, debt and other types of money which people borrowed from the banks. Since govt. is taking initiatives and trying to resolve the discrepancies between the customers and banking institutions but the number is very high on the losses which bank has to bear so its very critical condition where there is no immediate remedies which govt. can take to resolve this issue, As for the smooth functioning of the economy which is already affected due to pandemic the banking institutions must run and work as per the norms and regulations but it will be very difficult to get everything on the track where people are also facing a lot of political, social, health, medical issues which is the major concern for the govt. to save lives these days.

One thing what revealed in this pandemic that India has to act to repair the health and medical structures of the country which is very poor and in comparison of other countries where technology is playing a vital role in this issue, the medical health department needs to be improved on an immediate basis as it’s the biggest concern which arose in this pandemic, As the legal system is playing a very important role in India where people has their faith in the legal system that it’s the only functioning part of the countries’ management where people can raise their issues and get the legal solution of their problems and in this pandemic legal systems has become very helpful as they have suggested the Govt. how to take the appropriate steps in the situations like this to save more lives and minimize the damage.

Hoping to get more adequate resolutions government might take in near future to improve the structure of the Govt. health and human welfare in this country to avoid situations which have seen by the people of the country and minimize the damage if unfortunately, we have to go through such situation in future..!!!!!