Mumbai News

Mumbai reports 2 confirmed cases of coronavirus, share market continues to plunge – India Today

With two confirmed coronavirus patients in Maharashtra’s Mumbai, the deadly virus is fast creating discussions among the Mumbaikars.

Maharashtra government is taking all necessary precautions to avoid the spread of the coronavirus.

From stock market plunging down to all-time low to deserted look of Mumbai International airport and the business industries suffering heavy losses, the coronavirus has badly affected the financial capital of India.

SHARE MARKET

Scenes at the Bombay Stock Exchange (BSE) looks very tensed.

People are upset with the downfall of the share market. Some investors are also feeling that lower circuit might happen which means market gets shutdown for sometime before reopening.

Share market expert Siddharth Kuvawala said, “The only reason is the coronavirus. There are no buyers in the market. If the situation is not put under control then the share market will lose a lot of money. Again crude oil prices are crashed and dollar has became strong.”

Another share market expert Sunil Shah said, “High uncertainty period is lingering right now. Hopefully, situation does not get worse due to the coronavirus else the share market will fail miserably.”

MUMBAI INTERNATIONAL AIRPORT

Situation at the Mumbai international airport is not any better. The Mumbai international airport looks deserted. On normal days one can a lot of people in transition with long queues everywhere, but the situation today is nothing like what it was in the recent past. With less number of commuters, even the check-in counters are seen sans travellers.

Teams of doctors and paramedics have been increased in numbers at the airport. Over 100 teams are now working in different shifts. The Central Industrial Security Force (CISF) personnel wearing masks are keeping a check over the security at the airport.

Equipment used for medical check-ups are also being santised regularly. Three ambulances have bee deployed on a standby.

Suspected persons are directly taken to Kasturbha Hospital.

Earlier, medical checks happened at one place for passengers coming from all the countries. Now, for 15 counties like Iran, Italy, China, France, Korea, special medical check-up counters have been put up. The passengers are now also required to fill two declaration forms.

TRAVEL INDUSTRY AFFECTED BADLY DUE TO CORONAVIRUS

The Travel Agents Association of India (TAAI) called the coronavirus a worst catastrophe the tourism industry has ever faced.

The business has come to a standstill with almost 100 per cent cancellations. The TAAI has pegged a loss to aviation industry at USD $113 billion.

Ticketing loss to India is placed at around Rs 15,000 crore.

TAAI vice-president Jay Mehta said, “It’s the worst crisis globally. All the travel bookings will be cancelled eventually. March and April are peak season months for business. Businesses related to tourism will also suffer now. This sector gives the highest foreign exchange. The government should give a direction to airlines that customers who are rescheduling the trip or cancelling should be refunded on compensation basis.”

RAJESH RATERIA, CIRRUS TRAVEL PRIVATE LIMITED

“I was to travel to the US in April. I have cancelled the trip. Same is for all other corporate vacations. There will be more side effects of the coronavirus than its effects. It will be difficult to keep the business afloat,” Rajesh Rateria said.

The other thing tourism industry is worried about is 5 per cent tax collection at source (TCS) scheduled to be rolled out on April 1.

“This will have a negative impact on travel business. It will make foreign travel websites more lucrative and Indian travel industry will be impacted,” Rajesh Rateria said.

PREPARATIONS FOR CORONAVIRUS IN MAHARASHTRA

There are currently 12 confirmed cases of the coronavirus in Maharashtra.

Total testing labs in Maharashtra: 3

1. Kasturba Hospital, Mumbai

2. National Institute Virology, Pune

3. Indira Gandhi Medical College, Nagpur

ISOLATION WARDS:

Every district civil hospital:

– Kasturba Gandhi Hospital in Mumbai

– Naidu Hospital in Pune

– Additional provisions asked to be done at municipal corp hospitals

– Jaslok Hospital Mumbai, four beds added

– Seven Hills in Mumbai soon to have an isolation ward

Source: https://www.indiatoday.in/business/story/mumbai-cases-coronavirus-share-market-continues-plunge-tourism-1654974-2020-03-13