COVID-19 not only in India but across the globe has been seeing major financial crises in terms of country lockdowns, business shutdowns, and paramedical billings.
To understand the proximity and the gravity of the situation better, let us go through a few facts –
- The railways will be losing more than Rs. 450 crores every week due to the cancellations of trains, and has already seen a 45% decline in passengers and an 80% hike in the cancellations over the last 7 days.
- The novel coronavirus has severely hit the aviation industry too, with a major dip already. India has already mulled up Rs. 120 billion for the rescue mission.
- Hospitality industry is to suffer losses around Rs. 620 crores at the least.
- Tourism will also see a sharp downfall in the demand after the outbreak, which can last up to months or even the succeeding year.
- An accounted loss to both big and small manufacturing industries is about to set the financial loss bar really high.
And it does not end here, but only multiples because the aftermath of the virus is not going to vanish in a week or two, but is going to take up to months, even after it is completely gone!
India, as a country with high morals and sentiments, and even higher religious values shelter numerous religious trusts which exceed over a thousand in numbers. If we even consider just the biggest of them, their financial stability through cash holdings and gold is going to be more than enough to support the country at the time of such a major pandemic crises.
With the DMRC closing, railways shutting down, businesses pulling up its shutters, MNC’s going on a standstill, and the entire country moving towards a complete lockdown, the economy is going to face a huge backlash, emotionally and very importantly, financially.
In case of such an emergency, the wage workers are going to be hit the hardest, including the paramedical sector. If in such an outbreak, the religious trusts that have always flourished with limitless offerings in the form of cash and gold by its people, we can also say, by us, come forward to do their bit and support the state governments through such a catastrophe, and help the countrymen to suffer a little less than they already are, only then we can think of bringing about some level of economic stability along.
After all, if our money comes back to our people who need it the most right now, only then we can truly call ourselves as one, as a unity in diversity.
The number of people in India turning positive for the virus are increasing each day and are going to explode in the coming weeks, and for that, the country needs as much of financial support as it ever has in the history of Indian Independence. We, the people of India, who strongly believe in the mantras, the chants, the existence of 33 crore deities in Hinduism, alone, contribute for whom? The limitless money flooding the religious charitable trusts, who is it for, when is it going to come to use; and what even is its use if it cannot provide for its countrymen when the nation needs it the most.
Religious trusts being non-taxed organisations can help the entire nation through this tragedy in ways we cannot even think of.
According to a survey in July 2019, various religious trusts have accumulated more than 4 lakh crore over the years without putting it into any major charitable use. This is the time when donations are the most required and needed, if these trusts do not come forward now, I highly doubt the intentions of these trusts altogether.
After all, the nation is with its people, and if the people of the country start losing their battle against the virus, what good has our code of ethics and empathy brought us?
Data provided as of: 30th April, 2020
