Q.1) As Corporate India faces a grave crisis due to the ongoing COVID-19 pandemic, which has effectively changed the entire landscape and circumstances that existed before its arrival in a sudden and unforeseeable manner, there is need to enact specialised laws and regulations to govern a seamless transfer to a post COVID-19 era. Discuss. (250 words)
Why this question?
- 15.5lakh crore corporate loans come under stress due to Covid-19 impact.
Introduction: Mention the data regarding stressed assets due Covid-19 impact.
Body:
- Recent RBI initiatives: Loan moratorium etc.
- Current regulations for stress resolution: Kamath panel recommendations, IBC, Force Majeure.
- Concerns with current regulations
- Need for specialised laws to deal with Covid-19 effects
Conclusion: Summarize the above points and suggest a way forward.
Q.2) Recently, India crossed four million novel coronavirus cases. The ICMR’s latest advisory provides for testing on demand to “ensure higher levels of testing”. But a more nuanced approach to testing guidelines is necessary. Explain. (250 words)
Why this question?
- The Indian Council of Medical Research (ICMR) has allowed testing on-demand for Covid-19 even as it has allowed states to adapt to the recommendation as per their requirements, Thus the question.
Introduction: Mention the rising coronavirus cases in india and significance of testing.
Body:
Current status/types of testing in India
Issues with testing on demand:
- Less number of tests
- False negative results from rapid antigen test
- Low testing capacity
Conclusion: Summarize and suggest a way forward- balancing between RAT and RT PCR test.
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