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Stock markets around the world suffered historic losses in the first three months of the year. The Dow Jones Industrial Average and London’s FTSE 100 saw their biggest quarterly drops since 1987, plunging 23% and 25% respectively. In India, Bombay Stock Exchange investors lost around ₹33.38 lakh crore (in market value) in March, the month when the coronavirus contagion spread to equities. In an age largely defined as the era of social media, Covid-19 has now introduced a new zeitgeist: social distancing. Jobs that can be done are now being done from home -- as are classes for schools and college, and even the UK parliament. As a result, digital pipelines are sagging under the load of unprecedented video streaming and conferencing. need to be protected. But now, the states get about 13-14 days to plan their exit routes well. And they must use it well.”
The PM praised different states for their “teamwork” which helped check the speed of the virus, and thanked them for supporting the lockdown, due to which, the PM suggested, India had achieved some success in limiting the spread of Covid-19.
He emphasised the need for quick identification of virus hot spots and to encircle them to ensure the virus does not spread out. The PM also pointed to the need to maintain law and order across the country — law and order is a state subject.
He also asked the states to make available dedicated hospital facilities for Covid-19 patients, tap into the resource pool of AYUSH doctors, organise online training and utilise paramedical staff and civil society volunteers.
At a time when there remains a debate about whether India is testing enough, the PM underlined that data for testing must come from accredited labs so that there is congruence in data of district, state and the Centre.
The PM also asked for staggered release of funds to the beneficiaries under PM Garib Kalyan Yojana to avoid crowding at banks. A video clip of the meeting also showed PM Modi asking political leaders needed to reach out to community leaders and social welfare organisations.
State governments put forth their demands at the meeting. The Rajasthan government asked for a package of ₹1 lakh crore, while West Bengal sought a grant of ₹25,000 crore, over and above their dues of ₹36,000 crore.
Experts believe that the crisis demands a strong Centre-state collaboration, and the former needed to be more supportive of financial needs of the states. Yamini Aiyar, president and chief executive of the Centre for Policy Research, said: “Genuine cooperative federalism is imperative. States are at the front lines and best placed to devise interventions suited to their contexts. But they are fiscally strapped. The Centre needs to devise a mechanism for support that is untied and flexible and buttresses state action rather than undermine it with central schemes. The demand for greater financial support from states is critical and the Centre must take heed.”
Many CMS also sought medical equipment apart from cash to tackle the situation. Rajasthan wanted to take loans of up to 2% of the state’s GSP and asked for the Indian Council of Medical Research (ICMR) to be made the nodal office for buying personal protective equipment (PPE) and ventilators so that they are available to every state at best price and on time. It also underlined the need to focus on interstate supply chain protocol for essential items, medicines and medical equipment. West Bengal demanded more face masks, gloves, sanitisers, special suits for medical staff and also immediate release of the Goods and Services Tax (GST) compensation and cess amount.
Speaking to the media after the interaction, Karnataka CM BS Yediyurappa said: “The PM said that migrant labourers should be provided all facilities; lockdown should be implemented in full; food, medicine and other essential items should be made easily available; there should be no shortage of doctors or medical facilities; the PM Garib Kalyan package should be implemented smoothly; and states should ensure that there is no impact of lockdown on agricultural activities.” The Opposition asked the PM to be more consultative. The chief spokesperson of the Congress, Randeep Singh Surjewala, said that if the PM had consulted the CMS before announcing the nationwide lockdown, all the problems emerging now could have been avoided. self-quarantine, as advised by doctors.” Ayyubi also said that Saad has released an audio message urging all his followers to comply with the lockdown directions and be safe. In a minutelong video released on social media groups, Saad asked his followers to remain indoors and cooperate with the government.