Page 26 - August-2020-Issue

ARTICLE

Economy

and Me – Covid-19

(Prof.) Dr. Dewakar Goel * Sneha Viresh Bagdiya
Acclaimed Writer
Social Activist
C huge concerns over economic ill Aviation Industry is the worse
is for corona, C is for com-
merce. We are witnessing health and its recovery are crop-
hit. Especially when India was
how one C has got the ping up. No one knows what more so ambitious going leap and
other in sheer crisis. Covid-19 this pandemic has in store; head bound, about 23% growth soar-
has changed the world of com- to tail efforts are overcome with ing in the sky to reach zenith in
merce. Since the great depression least possible damage. When we domestic and 3rd in international
of the 1930’s, this year has marked talk about the upsetting impact sector after China and US, this
a shattering irrecoverable loss on Public Sector Undertakings sector today is awfully bruised.
of humankind and catastrophic of our nation, especially when Aviation losses are adding to the
collapse of the economy, due our government plays a major tune of Rs. 8,200 crores and grow-
to the drastic failure of human role in the infrastructure, tech- ing. A simple “Passenger Ticket”
smugness over nature. What we nology, aviation, Public Sector is the main source of income be-
have been seeing is just the tip of plays an extremely crucial role. side non aeronautical income
the iceberg, how bad it has al- Of course there is one significant that comes from aviation indus-
ready been, still remains to be difference; today technology has try. Airports across the world
seen. The international Monetary come to the rescue letting many are shut. internationally, it is
Fund says for the first time in people around the world work about 50-60% but India has about
last six decades, Asian econo- from their homes. industries that 30-35% comes from non aeronau-
mies may observe zero growth. are highly technical in nature can tical sources.
Ninety percent of the coun- pull “Work from HOME”, but in This entire revenue is gone.
tries shall experience a negative a country like india, how much Most of the airlines in here have
growth in real gross domestic administration work can be done taken the aircrafts on wet or
product per head this year. The from home? Barely 15-20% share dry lease, how do we stop them
global output could even be about of nationwide. At the grassroots from going into bankruptcy like
8-9 % below the baseline in 2021. level, India survives on people. Kingfisher and Jet? Air – India
One little virus has deposed all Economy cannot sustain without which is a government sec-
our superciliousness. This pan- ME and when people are locked tor already bearing Rs.1000 –
demic hit india when its econo- in, financial system trembles. 2000 crore loss may sustain this
my was flagging due to continual Worse hit sectors are Aviation, shutdown, but what about the
fiscal sector frailty. Economists Hospitality, Tourism, Retail, staff? A huge number of peo-
are already losing hope of a v Shipping to name a few. Be it ple are employed in the avia-
shaped upsurge post lockdown. public or private both are worse tion industry right from pilots
Instead, with countless efforts & hit or a principal employer, there to airhostesses to ground staff
sacrifices, it could sustain an L are so many compliances that to technical teams. if we keep
shaped recovery. need to be done PF, ESI, GST, ev- a few lac pilots aside having
While we are saving the mankind, erything looks frozen. good amount of salary in their

* Former ED, AAI & Director, Indian Aviation Academy
Chairman, Aero Academy of Aviation Science & Management (AAASM).

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26 KaleidOscope May, 2020KaleidOscope May, 2020