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Answer:
As the spread of the coronavirus continues across the world, many questions remain unanswered, not least what is going to happen to those thousands of students whose universities have also been affected by the pandemic. Schools, offices, museums, restaurants and bars are being closed across the world, and curfews are in place in particularly affected countries. Similarly, universities have begun shutting up shop, not willing to risk large swathes of students being affected by the virus. So what does this mean for students who are unable to study, and what are some of the potential workarounds?
the impact of the coronavirus on higher education
Universities close their doors
Across many countries, universities and importantly their libraries have been shut down. In Berlin, for example, all Freie Universität libraries shut down officially on the 16/03/20 for an indeterminate period, some having already closed during the week before. In Italy, universities have already been closed for some time, as have major universities in the USA. It is surely only a matter of time before this happens broadly across most of the world, assuming the virus isn’t brought under control soon.
Currently, many universities are on study break, meaning a few weeks during which there are no seminars, lectures or tutorials, allowing students to write their essays or do exams. With libraries shut, leaving students unable to find the research materials they need, deadlines for essays and exams will have to be pushed back to allow time for these students to still do their research.
Answer:
A looming economic crisis triggered by the corona virus pandemic is a chance for India to enact sweeping reforms to fix ailing sectors and attract more foreign investment to the country.
That’s a call being made by a former central banker and an ex-government official, as well as financial market participants, who say India needs to liberalize and deepen its financial markets, and take policy steps to fix the banking and farm sectors. There are early signs of this already happening, with the central bank giving overseas investors greater access to its sovereign bonds, allowing local banks to tap offshore currency markets and companies a choice of more complex hedging tools.
ndia is facing its biggest crisis in decades, with a three-week lockdown in a nation of 1.3 billion people likely to result in economic recession, millions of job losses and possible starvation among the poor.
“It is said India reforms only in crisis,” Raghuram Rajan, the former governor of the Reserve Bank of India, wrote in a LinkedIn post this week. “Hopefully, this otherwise unmitigated tragedy will help us see how weakened we have become as a society and will focus our politics on the critical economic and health care reforms we sorely need.”
India has a history of taking reform steps during periods of crisis. For example, in 1991-92, it freed the private sector from a myriad of government controls, deregulated financial markets, reduced import tariffs and opened up the economy to more foreign investment to avoid a balance of payments crisis.
Time-line of Reforms Induced by Crisis
1991-92: With the economy on the brink of a balance-of-payments crisis, the then government cut import tariffs, abolished industrial licensing to foster competition. A stock market scam during that period led to formation of the capital market regulator — the Securities and Exchange Board of India
1997-98: Economic sanctions post India’s nuclear weapons tests, and the Asian financial crisis prompted large-scale divestment of state-run assets to garner revenues
2014: Post the Federal Reserve’s taper tantrum, authorities started work on an inflation-targeting regime for the central bank and an asset quality review that made disclosure of India’s bad loans more transparent