The Global
Issue of
Covid-19
• Coronavirus pandemic is the biggest
disaster of 2020.
• Most of the countries in the world are
suffering from this pandemic.
• This outbreak was first originated in
Wuhan, China in the month of
December 2019
• Currently USA is leading in terms of
the number of Covid-19 cases
(Worldometer. 2020)
Total New Cases and Deaths in
last 24 Hours
Biggest Problem Covid-19
has Created
Covi-19 impact on
Human Health
• The impact of Covid on people
aged above 70 years is huge
• The negative impact of Covid on
children’s health is also critical
• Covid also impacts the mental
health of the people
• Covid is also creating risks to
increase the numbers of suicides
(Kawohl & Nordt, 2020)
Top 10 Countries Suffering
from Coronavirus Outbreak
Biggest Problem Covid-19
has Created (Continued)
Impact of Covid-19 on the
Economy
• The global economy is drowning
right now (Erken, 2020).
• The aggregate demand in the market
is very low
• The circulation of money has been
stuck as most of the companies are
closed right now
• The unemployment rate is at the
peak.
Economic Slowdown During Covid-
19 Pandemic
Policy Options
• Cutting the Interest rates (Economic Times. 2020)
• Cutting Down the Income Tax (Live Mint. 2020)
• Universal basic Income (UBI) (Satyajit Das. 2019)
Best Policy to be Implemented
(Recommendation)
• Universal basic Income
(UBI)
• UBI can reduce the income
inequality
• It can end poverty
• UBI is able to improve the
standard of living of the poor
people
• UBI effectively improves the
health factor of the people
(Charlton, 2019).
Reference
• Charlton, E. (2019). The results of Finland’s basic income experiment are in. Is it working? Retrieved from
https://www.weforum.org/agenda/2019/02/the-results-finlands-universal-basic-income-experiment-are-in-i
s-it-working/
• Economic Times. (2020). These banks have cut interest rates on loans. Retrieved from
https://economictimes.indiatimes.com/wealth/borrow/these-banks-have-cut-interest-rates-on-loans/articlesh
ow/74883590.cms
• Erken, H. (2020). Global Economic Outlook: COVID-19 has taken a hold of the global economy. Retrieved
from https://economics.rabobank.com/publications/2020/march/global-economic-outlook/
• Kawohl, W., & Nordt, C. (2020). COVID-19, unemployment, and suicide. Retrieved from
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7185950/
• Live Mint. (2020). Personal income tax may be cut after reduction in corporate tax rate. Retrieved from
https://www.livemint.com/budget/news/personal-income-tax-may-be-cut-after-reduction-in-corporate-tax-r
ate-11577869118897.html
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