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India Grapples With First Tremors Of Economic Shake-up
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BY R.K.MISRA India grappling with the Covid-19 pandemic is beginning to feel the first tremors of the economic shake-up caused by the 21-day shutdown as corporates , business, trade and industry, even public sector undertakings are burning midnight oil to wriggle out of prior commitments. The restriction on human movement has had a spiraling effect on every aspect of human life whether it is business or manufacturing, commerce or construction, trade or transport. Once the attention from the control of the virus shifts a swarm of issues is expected to occupy attention for quite some time to come. A major one-amongst the lot of them- will be the delays caused in meeting contractual obligations. These will be spread over a huge canvass from construction contracts to manufacturing and supply agreements, from professional service providers to engineering contractors and their suppliers and even financiers who will be grappling with cost over runs due to time slipp