Std 10
Social Science
Assignment
Q. Distinguish between developing country like India and developed country like USA and also explain the impact of Covid 19 on Indian financial development.
Answers
Answer:
Things are moving fast with the COVID-19 novel coronavirus. On March 12, the World Health Organization declared that the virus is now a pandemic and President Trump announced a 30-day ban on all travel from the EU to the U.S. One thing is sure: COVID-19 is the quintessential ‘black swan’. Two key features of black swans are that their occurrence is highly unlikely and their impact is very big, which was also the case for the 9/11 terrorist attacks in 2001 or the global financial crisis of 2008-09. This brings us to one simple question that we try to answer in this column: what is the economic impact of COVID-19 on the Indian economy? As we focus on the economic effects, we want to stress beforehand that we fully realise that there is much human suffering beneath the cold figures presented in this article.