India will risk an economic “hara-kiri”, a ritualistic suicide, if it extends the nationwide lockdown for much longer, veteran businessman Anand Mahindra said, at a time the central and state governments are struggling to strike a balance between lives and livelihood.
“A functioning and growing economy is like an immune system for livelihoods. A lockdown weakens that immune system and most hurts the impoverished in our society,” the Mahindra Group chairman said in a tweet.
India went into a lockdown on March 25, with Prime Minister Narendra Modi extending the stringent stay-at-home restrictions twice — first until May 3 and then again until May 17. In a meeting with state chief ministers on Monday, Modi asked them to submit plans to reopen states by May 15. The lockdown impacted migrant workers the most as jobs and income dried up overnight, leaving them stranded in the cities where they worked while many started walking back to their native places. India allowed select activities starting April 20 but workers mostly stayed away. The nation now has more than 70,000 confirmed coronavirus cases.
“This doesn't mean the lockdown hasn't helped,” Mahindra said. While the lockdown has certainly helped save many lives and bought time to advance India's medical infrastructure, he said the economy needs to be reopened. However, India shouldn't expect a quick flattening in its infection curve, he added.
The number of new cases has risen, despite flattening the previous few days. With higher testing, a continuing rise is inevitable given the low absolute number of cases relative to our population & the rest of the world. We shouldn't expect a swift flattening of the curve.(1/5) pic.twitter.com/tg4i2N4IeZ
According to Mahindra, India's goal should be to continue preventing avoidable deaths, for which, he proposed a four-pronged approach:
- Rapidly build field hospitals equipped with oxygen lines (ventilators aren't critical now).
- Deploy widespread testing and tracing.
- Focus on containment not through zones but at sub pin code levels.
- Protect the elderly and the medically vulnerable.
To quote a colleague: ‘We have to live with the virus. It's not here on a tourist visa with an expiry date.Anand Mahindra, Chairman, Mahindra GroupEssential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
