Tag Archives: #COVID-19

Spike in household savings expected due to covid-19

Due to forced slowdown in COVID-related consumption household savings are expected to spike in Q1’20-21. This will come in handy to finance the economy’s recovery, an RBI research paper said as it is the Indian economy’s most reliable and self-reliant source of capital.

In this time of layoffs and the economy is absolute turmoil, this research comes as a beacon of hope.In India, as compared t other countries saving has been considered very important, especially by middle-class families.Due to our mindset and traditional values saving has always been preferred over spending . In fact consumerism came very late to India in comparison with other countries that achieved independence from colonial powers around the same time that we did.A lot can be attributed to the fact that the standard of living in our country had been stagnant for a very long period of time.

Only in the last decade or two, the standard of living of masses have some how increased, this can be mainly attributed to increase in the country’s overall literacy rate, for both men as well as women and also rapid infrastructural development that we have witnessed since the turn of the century.One of the many policies of this government that played a major role in this would be the 1990 Economic Policies, this particular policy has drastically changed the prevalent economic structure of the country.One of the important implementations of the policy was the opening up of the country’s economy and integrating ourselves with the world economy.This created a healthy competition in the economy which motivated Indian firms to increase the quality of their product to be at par international standards

A spike in households’ net financial assets is likely due to a sharp drop in lockdown-induced consumption in the first quarter of 2020–21. According to the paper written by Anupam Prakash, Anand Prakash Ekka, Kunal Priyadarshi, Chaitali Bhowmick and Ishu Thakur of the RBI Department of Economic and Policy Research, several studies show that households tend to save more during a slowdown and income uncertainty.

After the nationwide lock-down to combat the COVID-19 pandemic, economists forecast an ever worse contraction of the Indian economy during FY’21. The paper also warns that lags in the pickup of economic activity may cause households’ financial surplus in subsequent quarters to taper off. With construction activity at a standstill, households are likely to move from physical assets such as residential property to financial assets such as deposits, currency, and mutual funds, and are more useful in financing businesses and the growth of the economy. At Rs 15.6 lakh crore, India’s net financial savings rose to 7.7 per cent in FY’20 as of March 2020 from 7.2 per cent in FY’19.

For the Indian economy, the report notes, the household sector is the most sustainable and self-reliant source of finance. In the light of the policy initiative gathering critical mass to lift the Indian economy from the vice-like grip of a recession and, more recently, the life-threatening COVID-19 pandemic, it said, its position is likely to become crucial.

The Indian households hold financial assets or financial savings in currency, bank deposits, debt securities, mutual funds, insurance , pension funds and small savings. Currency and bank deposits accounted for 66 per cent of overall financial assets, led by pension companies and mutual funds contributing 30.2 per cent respectively. Such in-turns are strong sources of company financing.

Source:https://economictimes.indiatimes.com/news/economy/finance/covid-related-consumption-crunch-may-spike-q1-household-savings/articleshow/76322161.cms

Yoga is the journey of self, through the self to the self

In the busy schedule of the lives where people don’t have time to rest and relax there comes the original of a very peaceful activity named as ‘Yoga’. It has came into existence in ancient India which is provides a way to engage yourself towards the harmony.The original meaning of the World is “Union” it is one the six Aatika (Orthodox) school teaching of hindu tradition. It provides mental and spiritual peace to the body where one can surely relax himself and attain peace. Now this practice is famous all around the World which initially originated from India it is a kind of art that connects mind and body.few significance of yoga are that when we practive several asanas ,and postures it strengthens our body and give our body felling of well being and wealthiness. Furthermore it helps in sharpening the mind and improving intelligence.It also connect us with the nature like never before and enhances our social well being.In addition you develop self discipline and self awareness if it is practiced regularly. 21 st of June is celebrated as ‘International Day of ‘Yoga’ where people are made aware of the importance of ‘Yoga’. The father of modern ‘Yoga’ is Tirumalal Krishnamacharya he has both the knowledge of Yoga and Ayurvedic.The founder of Patanjali company Baba Ram dev is yoga Guru he conducts yoga classes.Someone has rightly said Yoga does not change the way we see things ,it transforms the person who sees

Johnson & Johnson to start human trails for covid-19 vaccine in july

Johnson & Johnson has decided to move up it’s clinical trials by two months, from September to July, says the company as the pharmaceutical giant , like many others expects to be the first, in the race of creating ‘the’ vaccine,i.e COVID -19 vaccine.

The speeding up of the process will allow J&J to participate in the U.S. government’s proposed major clinical trials project which targets to provide an successful vaccine by the end of the year. In March, J&J signed agreements with the U.S. government to build adequate production resources to manufacture more than 1 billion doses of its vaccine by 2021, even before it has confirmation that the vaccine will be effective.

There are currently no recognized medications or vaccines approved for the virus in the USA. A vaccination is seen as necessary to end the pandemic that has affected more than 7.2 million people and killed more than 412,000 people across the globe and has also had an adverse affect on the several economies around the world .

“Based on the strength of the pre-clinical data we have seen so far and interactions with the regulatory authorities, we have been able to further accelerate the clinical development,”Chief Scientific Officer Paul Stoffels of J&J said in a statement on Wednesday.

The trails by J&J will test the vaccine for safe operation and early signs of effectiveness in 1,045 healthy volunteers aged 18 to 55, and in those aged 65 and older. The trial will take place in the United States and Belgium.

The firm is also in discussions with the National Institutes of Allergy and Infectious Diseases (NIAID) to begin bigger, late-stage studies before time, based on early research outcomes and regulatory clearance.

The United States plans to study a number of participants for the coronavirus vaccine in studies that would involve up to 30,000 people and get a potency result as soon as possible.  Health Chief of National Institutes Dr Francis Collins said.

Stoffels said last week that J&J hopes to have results of its vaccine efficacy trials in the first quarter of 2021. He added that the company is “working hard to bring it back to the end of the year.” A lot will depend on how much virus is circulating at that time, he said.

The company plans to test the vaccine in high-transmission regions within the United States. If the incidence is low, “we will complement that with international sites to make sure that we reach enough endpoints quickly to prove the vaccine works,” Stoffels said.

Moderna Inc, which is working in close partnership with NIAID, has started testing its vaccine candidate in a 600-subject mid-stage trial. The company expects to begin late-stage trials in July.

Moderna’s vaccine uses messenger RNA technology, an approach that has yet to produce any approved vaccines. J&J is utilizing the same technology used to make its Ebola vaccine, which won European regulatory approval late last month.

The trick with developing a vaccine is that it has to be widely tested and developed in a format that is effective on everyone and thus, can be mass-produced , so that the vaccine is profitable for the company manufacturing it too.

There are about 10 coronavirus vaccines in human testing. Experts have said a safe and effective vaccine could take at least 12 to 18 months from the start of development, which would shave several years off the typical vaccine development timeline.

Source:https://www.reuters.com/article/us-health-coronavirus-johnson-johnson/jj-to-begin-human-trials-of-covid-19-vaccine-in-second-half-of-july-idUSKBN23H24F?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

world’s largest vaccine manufacturer invests usd 100 million to develop potential Covid-19 vaccine

According to a company official of , the world’s largest producer of vaccines, the Serum Institute of India , is planning to invest USD 100 million on a potential vaccine for COVID-19,  being developed at Oxford University. The organization established in Pune, has collaborated with AstraZeneca, a British bio-pharmaceutical corporation mammoth, to ensure a stable supply to India and other low- and middle-income countries of the AZD1222 vaccines.

“Our manufacturing facility is ready and we plan to start production in two months. We are spending more than USD 100 million for this facility. Till the trials are completed successfully for safety and efficacy, vaccines will not be distributed either in India or anywhere else in the world,” Adar Poonawalla, Chief Executive Officer, Serum Institute of India (SII), said.

With high hopes the company is planning to mass produce up to a million units, and is planning to stockpile the same at personal risk. According to the company when it comes to determine how many units India is likely to get in the first phase, they commented that it might be too early too comment. “However, if the vaccine trials succeed, India will gain access to the doses as it will also be the requirement of the Government of India. And we are certain that everybody will respect if the substantial volumes go to India,” he added.

According to their website, Serum Institute of India was founded in 1966 by Dr. Cyrus Poonawalla with the aim of manufacturing life-saving immuno-biologicals, which were in shortage in the country and imported at high prices. Thereafter, several life-saving biologicals were manufactured at prices affordable, and now is the world’s largest vaccine manufacturer by number of doses produced and sold globally (more than 1.5 billion doses) which includes Polio vaccine as well as Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps and Rubella vaccines. It is estimated that about 65% of the children in the world receive at least one vaccine manufactured by Serum Institute. Vaccines manufactured by the Serum Institute are accredited by the World Health Organization, Geneva and are being used in around 170 countries across the globe in their national immunization programs, saving millions of lives throughout the world.

Serum Institute of India is ranked as India’s No. 1 biotechnology company, manufacturing highly specialized life saving biologicals like vaccines using cutting edge genetic and cell based technologies, antisera and other medical specialties.

Serum Institute of India also has plans and is working on developing a vaccine with USA based firm Codagenix, Poonawalla recently said that at present, the firm is undergoing pre-clinical trials (animal trial phase) and hope to progress to the human trial phase by September/October.

“The aim is to make the vaccine over the next 1.5-2 years to help combat the novel corona-virus. With the combined efforts of our partner Codagenix, we are optimistic that we will be able to provide a viable and effective vaccine for mass use,” Adar Poonawalla, Chief Executive Officer, Serum Institute of India (SII), said.

SII along with Oxford and Codagenix is also working with an Austria-based firm, Themis and two other promising candidates to develop an effective and affordable vaccine for COVID-19.At least half a dozen attempts to build a coronavirus vaccine are underway worldwide but the ones in Oxford are considered one of the most assuring and promising ones.   A vaccine will be a much needed intervention that can bring the loss of lives caused by the infections, to a complete halt.

Source:https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/serum-institute-investing-usd-100-million-on-potential-covid-19-vaccine/articleshow/76288408

There is a no limit to what we as a woman can achieve!![Women empowerment]

Wo-men a big word in itself through which a men came into existence so talking about today’s era where women are playing crucial role in every aspect of life. From the vicious grisp of social, economical, political, business or entrepreneur everywhere women has proven themselves and cset an example for the whole World. As the times evolved women, realised their power since that time the revolution came. A latest trending news New-Zealand prime minister ‘Jacinda Ardin’ has proven herself that women can handle and trackle any situation which is really mesmerizing. Talking about Mother Teresa who work for the social cost and dedicated her life for the welfare of the humanity truly a gem to be remembered. So it’s the time to talk about the F-World in 2020 it’s no about the scarlet letter it’s a time to brand yourself as a feminist. A girl with strong views and will power ‘Malala Yosuafgai became the youngest to win the noble prize laureate now is education advocate.GD Anderson an Australian activist and writer who was a member of American osteopathic association.So to all the girls who are reading this never doubt that you are valuable and powerful you are capable of pursuing every dreams.

mexico alcohol poisoning claims 10 more lives

As mentioned in The Indian Express, dated 9 Jun due to the Corona-virus pandemic, sale of adulterated alcohol has increased exponentially and has claimed hundreds of lives in Mexico.

The government of state of Guerrero issued a statement saying “the latest 18 deaths occurred in and around the mountain township of Tlapa de Comonfort, after inhabitants drank a tequila-type drink from little-known brands. called “Rancho Escondido.” Another 16 people were hospitalized for poisoning symptoms; four remain in serious condition. This area is known for its poverty-ridden farming villages.

The Guerrero Health Department said the liquor was labeled as “distilled agave,” the cactus-like plant from which both tequila and mescal are made. Because tequila production is strictly limited to certain regions, drinks made outside those areas are sometimes labelled “agave liquor.”

The department said at least three brands were implicated in the poisonings: “Rancho Escondido,” “Jalón” and “100 Años. The victims were admitted to hospitals in such serious condition that they rapidly died. Authorities seized 505 bottles of the liquor from four stores in the area.

Due to the pandemic, the sale of legitimate alcohol had been banned across several towns in the country, resulting in people turning to cheaply-made alcohol. Many having also had lost their job and were unable to afford name brands anymore.

According to the authorities as many as 40 people have died in two states alone , during the month of May after drinking Methanol, which is a poisonous cousin of the ethanol alcohol , which is used in normal liquors. It can’t be smelled or tasted in drinks, and causes organ and brain damage, and its symptoms include chest pain, nausea, hyperventilation, blindness and even coma.

This is one of the more serious examples of how a disaster brings out the worst in some people, where they are willing to endanger the lives of those who are desperate, just to profit off of them.

Swiggy to shut down it’s independently working food delivery service-scootsy.

Bangalore-based food-tech unicorn, Swiggy plans to close its on-demand online food delivery service Scootsy, a Mumbai-based startup which it acquired in 2018, for an estimated value of Rs. 50 Crore, to expand its operations in the online food delivery segment.

Scootsy,  was permitted to function as an independent app, serving food from a curated list of brands (such as Masque, Nara Thai, Royal China, Trattoria),gourmet food stores, and  bakeries after the takeover in Mumbai.

Swiggy is one of the many big Indian brands that have been adversely affected by the Corona-virus pandemic.Food delivery business in India saw a 70% drop in food order volume, with just 25% of listed restaurants operational.

In the past month, Swiggy has concentrated on luxury ‘curated’ consumer food delivery and has been linking itself to premier hotel groups like ITC Hotels, Marriott, Hyatt, KA Hospitality and such similar brands—to raise its average order volume and size on its website as it aims to benefit further from high-ticket size orders.

Thus the major food startup is planning to fully merge Mumbai-based Scootsy, an already premier food delivery brand , on its own platform and will redirect Scootsy’s customers to the Swiggy app. With this it will also undertake the transitioning of Scootsy’s partners and delivery fleet onto the Swiggy platform.

“Swiggy has seen a increase in demand over the past few months for customized food choices from premium brands. In order to extend our reach to all discerning consumers across Mumbai, we will be transferring the services provided by Scootsy to Swiggy ‘s platforms in the near future. This will be the first big step in setting up the premium category for Swiggy,” said a Swiggy representative.

Recently, gourmet restaurants have slowly begun to tap food distribution services such as Swiggy to ensure continuity of business as the industry expects  changes in consumer behavior toward eateries.

Source: https://www.livemint.com/companies