‘Covid-19 has greatly affected socio-economic sectors of world’

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‘Covid-19 has greatly affected socio-economic sectors of world’

Friday, 07 August 2020 | PNS | Mhow

Delivering the key note speech on the second Technical Session of  the four day Virtual National Conference, Prof Hrishikesh Soman, Principal of Symbiosis Arts and Commerce College, Pune said that Covid-19 has greatly affected the socio-economic sectors of the world very badly.

In particular, new challenges were arose for industrialists and financial institutions. Depression in individuals increased rapidly due to psychological problems due to financial loss. A large financial package have been announced by the government to strengthen the economic system of the country. Industrial institutions should set up contingency funds so that unexpected expenses can be incurred.

Chief Guest Prof Pratap Singh Chouhan, Vice Chancellor of Govind Guru University, Godhra said that the challenges of developing countries are completely different from those of developed countries. There are extensive changes in the economic institutions as well as educational institutions due to the Pandemic globally.  Online education has become an important tool for educational institutions. Many economic problems have arise due to the economy being affected. But many collaborative approaches to these challenges can create a positive environment.

Special Guest Prof Sandip K Bhatt of Sardar Patel University, Anand said that new schemes have started under 'Digital Infrastructure'. The Cashless India Framework has developed a digitally empowered society. 100% digital banking is the future of banking system. We all have to be committed to digitally literate more and more people of the society.

Special guest Prof M Muninarayanappa from Bangalore Central University said  that finance is an important part of the economic development of any country. This challenge can be turned into opportunity with teamwork. By adopting the three qualities of a teacher knowledge, experience and communication, success can be achieved by developing intelligence and abilities.

Distinguished Guest N.S Pandey of Pondicherry Central University said that the economic impact of the corona virus epidemic was largely disruptive. During the lockdown, crores of people lost employment. More than 45 percent of the households across the country have reported a decline in income over the previous year. The Reserve Bank of India announced measures to counter the economic impact of the epidemic.

This conference 'COVID-19: Emerging Challenges and Dimensions of Management' is being organised at B.R.  Ambedkar University of Social Science, Mhow.

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