Stock market affected due to fear amid Coronavirus, says Prinicpal Economic Advisor

As Coronavirus continues to be a threat to country, Principal Ecomic visor Sanjeev Sanyal on Friday apprised about  fall in stock market. He said it to be a direct result of prevailing environment of fear caused due to ongoing crisis over virus across globe. This comes after two deaths and 82 confirmed cases of Coronavirus have been reported in India.

Speaking to news ncy, Sanyal said that outbreak has affected ecomy and ded that measures have been taken to contain spre. He said that central government is taking proactive actions to contain spre of virus, its impact on businesses, market and ecomy.

" fall is due to prevailing environment of fear amid Coronavirus. re are some effects on ecomy, but we have been taking measures since beginning to contain its spre and minimise impact," Sanyal said.

"We are taking responsible actions to contain spre of Coronavirus. We were one of first countries that brought students and tourists back from or countries," Sanyal ded. He furr stressed that dely virus has affected business and tre and assured investors t to fall prey to environment of fear created by pandemic.

"It has impacted business. We have a lot of imports and export with China and or countries. This has been affected. However, we are keeping a close eye on matter. Finance Minister Nirmala Sitharaman h taken cognisance of matter a few weeks ago and held several meetings with business persons and industrialists," Sanyal ded.

Meanwhile, equity benchmark indices std biggest ever intra-day recovery on Friday after hitting a 10 per cent lower circuit for first time since 2008 global financial crisis.

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2 deaths reported in India 

Laboratory reports on Thursday confirmed that 76-year-old man from Kalaburagi who passed away on Tuesday night h contracted  vel Coronavirus. This marked India’s first COVID-19 death since outbreak of virus. Karnataka Health Department h revealed that man returned from Saudi Arabia to Hyderab on February 29.

Initially, he was mitted to outpatient department of a private hospital in Kalaburagi on March 5. After 4 days, he was shifted to a private hospital in Hyderab. However, hospital informed patient’s family to shift him back to Kalaburagi and he, unfortunately, passed away in ambulance on way to Gulbarga Institute of Medical Sciences on Tuesday. 

Furrmore, on Friday, India's second death due to virus was reported. victim was a 68-year-old woman from West Delhi, who passed away at Ram Mahar Lohia Hospital. While she was suffering from diabetes and hypertension, she contracted COVID-19 reportedly due to being in contact with her son, who travelled to Switzerland and Italy between February 5 to 22. He too has been tested positive for dely virus.

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