Reportedly Finance minister nirmala sitharaman on friday said there is no need to panic due to coronavirus epidemic and that it could become a challenge only if issues are not resolved in three weeks. She said, "No need to press the panic button because of the coronavirus epidemic. coronavirus outbreak will be a challenge if issues do not get resolved in three weeks."
Her statement comes at a time when the fast-spreading Covid-19 virus has disrupted global markets, with many analysts firms already fearing a recession if no solution emerges. The virus, which has claimed over 2,800 lives and infected more than 83,000, has spread to 57 countries. Many indian industries have also been impacted as the virus continues to spread rapidly. The international Monetary Fund (IMF) has also warned that the virus could "put an already fragile global economy" at risk.
Moreover international Monetary Fund chief Kristalina Georgieva said after a two-day meeting of G20 finance ministers and central bank governors in Riyadh that the projected global growth recovery is fragile and the Covid-19 virus has disrupted economic activity in china, lowering chances of any possible recovery. But several economists continue to say that the impact of the virus on india will be limited apart from supply chain issues. Some others say that it is too early to comment on the real impact of coronavirus.
