Mamata Banerjee announces 'global advisory' for Bengal to boost economy amid lockdown

Tackling the economic impact due to 21-day Coronavirus (COVID-19) lockdown, West Bengal CM Mamata Banerjee on Monday has announced that her government will form a global advisory for COVID response policy, in a Kolkata press briefing. Moreover, she revealed that Nobel Laureate Abhijit Banerjee will be a part of it, highlighting that the state must plan for the future as the lockdown has brought in no revenue. West Bengal has reported 80 cases with 3 deaths as of date. India's lockdown will last till April 14 as cases have soared to 4067 with 109 deaths.

BMC seals area around Maha CM Thackeray's residence 'Matoshree' after suspected COVID case

Mamata Banerjee: 'Global advisory for COVID response policy'

"Due to lockdown there is no revenue and we don't how long we have to stay like this. We have to plan for the future.  Bengal Govt will form a global advisory for COVID response policy in Bengal. Nobel winner Dr. Abhijit Bandopadhyay to be in the committee," she said.

Coronavirus LIVE Updates: India's confirmed cases cross 4000-mark; 109 deaths confirmed

She added, " Have to plan for the future economy. Central govt gets donation of large sums, we don't, not that I'm jealous. Central has asked us to open tea gardens, so we have spoken to all associated and they are afraid due to Kalimpong case. As it borders Nepal and Bhutan we are monitoring. We haven't opened it yet."

Sensex loses 1203 points, Nifty 343 points on 1st day of FY-21, shares hit 52-week low

Corona effect on Global economy

The fear of the virus has disrupted business supply chains, while the number of positive cases has hit 1,287,095 cases with 70,523 deaths. Moody’s have estimated that coronavirus has increased the risk of a global recession as advanced countries United States, Japan, Germany, Italy, France, Britain, and Korea battle the virus, but the UN has claimed that India and China may be spared. Analysts have said that as China is the largest supplier of raw materials and manufacturing hub for different industries - core industries like automobiles, metal and pharmaceuticals' trade have been brought to a standstill due to China closing off its borders. Currently, US which is the epicenter of the pandemic has extended its social distancing restrictions till April 30.

Congress welcomes Centre's '30% salary cut for MPs'; but adds 'scrap Central Vista too'