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Tuesday, July 16, 2024

Rupee crashes as Corona sweeps across India

HealthRupee crashes as Corona sweeps across India
Rupee crashes down with stocks as the corona pandemic caseload in India sweeps across the nation, hitting a new low past 75 to a dollar for the first time since August 2020, while the benchmark S&P BSE Sensex Index declined as much as 3%, the most in nearly two months. India reported record 168,912 new infections on Sunday, taking the tally to 13.53 million cases.

The Indian rupee and stocks declined to multi-month lows, in anticipation of the loss of business during the extended lockdowns due to the escalating health crisis.  While the economy according to data was showing signs of recovery, the slump came in the face of the COVID surge across India.

Presently, the second wave of virus infections hitting record highs. India reveals data of +152,682 new cases of COVID just yesterday.  Medical officials reveal an outpouring number of dead bodies and in different parts of the country, crematoriums, and graveyards are overflowing with dead bodies. There are mass burials and multiple bodies being cremated in the same funeral pyres due to lack of space according to a report by The Times of India.

Sick patients are being turned away due to a lack of hospital beds and vaccines have run out.  While state governments across the nation are imposing stricter regulations on the movement of the people, the Central Government was still adamant to hold election campaigning and polls which entailed masses in herds coming out together for campaigns and to vote. None in the crowds were masking or distancing.

Presently, there is 1 lakh at the Ganges gathering for prayers, and likewise, religious gatherings are still not curbed in reality.

Unfortunately, the callousness of such gatherings has given strength to the virus to multiply.

The deadliest bubonic plague, the most fatal pandemic recorded in human history caused the death of 75–200 million people. This was called Grim Reaper due to the monstrous manner in which it took away lives.

The most popular theory of how the plague ended is through the implementation of quarantines.

While the rupee is crashing, and people are dying or recovering, if India does not hasten to follow the proper protocols of the pandemic, starting with the leaders of the nation, the economy will take endless ages to recover.  It is better to be safe than sorry.

This picture shared by a citizen in UP where he writes:

“Haridwar Kumbh second royal bath is underway

Mahants of All India Arena Council

400 people are corona positive with Narendra Giri. Neither a mask nor any social distancing.

Ramadan starts today, rule law has been implemented in our 3-man mosques in Madhya Pradesh
5 people can go to Uttar Pradesh.”

Unfortunately, this selective treatment is enabling the viral surge of COVID-19, strengthening the lethal virus.  We cannot have one rule for one group of people and another set of rules for another!  Are the leaders really serious about eradicating the pandemic?

 

 

 

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