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Besides its worrying effects on human life, the novel strain of coronavirus has the potential to significantly slow down the global economy. Several industries have been adversely impacted due to the spread of COVID-19. It is evident that the global economy is grinding to a halt. As business close to help prevent transmission of COVID-19, financial concerns and job losses are one of the first human impacts of the virus. We have seen the significant economic impact of the coronavirus on financial markets and vulnerable industries such as manufacturing, tourism, hospitality and travel. Travel and tourism account for 10 % of the global GDP and 50 million jobs are at risk worldwide. Global tourism, travel and hospitality companies closing down affects SMEs globally. Responding to the crisis requires global cooperation among governments, international organisations and the business community, which is at the centre of the World Economic Forum's mission as the International Organization for Public-Private Cooperation. The pandemic is also expected to have a huge impact on global education. According to UNESCO monitoring, over 100 countries have implemented nationwide closures, impacting nearly 90 % of the world's student population. School closures impact not only students, teachers and families, but have far reaching economic and societal consequences. School closures in response to COVID-19 have shed light on various social and economic issues, including student debt, digital learning, food insecurity, and homelessness, as well as access to child care, health care, housing, internet and disability services. Efforts to stem the spread of COVID-19 through non-pharmaceutical interventions and preventive measures such as social-distancing and self-isolation have prompted the widespread closure of schooling in over 100 countries.

The nature of political culture depends on beliefs and orientations of the mass towards the political system and the response of the authority and the process to the orientations. Sometimes the process is participatory when the members of the society take active part in the political process and seeks benefits from the process. In the same time, it may be subject political culture when the common people know very little about the process and do not expect any share in the decision making process. Every political system has its own destined culture. The culture of an authoritarian government is quite different from the culture of a democratic country. Again there are differences in the culture of new democracy and modern democracies. Political culture is not static or fixed. It is a dynamic and an ever changing process. Political culture goes on changing and changing. It changes as a result of new ideas, structural changes in the system, new innovations, demographic change and changes in the international political environment and of many other factors. Incorporating these changes it continues from one generation to another generation. The socialization process transmitted the culture generation by generations and provides stability to the system. Political consensus on values is a must for political system to survive and confront pressures, conflict and crisis emerging from time to time. It relates to political culture which is a sub-structure of each political system. Political culture at all levels support the system. It provides the necessary legitimacy to the system and makes the system sustainable for a time being. It encompasses both the political ideals and the operating norms of a political system.

At the height of the COVID-19 pandemic's first wave in the mid-2020, we were living the first phase of the COVID-19 virus. It was a relatively new virus and a public health crisis which left governments scrambling to lockdown and the public sector in different countries of the world largely failed. At present, the vaccines for the COVID-19 are out and we are in the second phase of the pandemic. Vaccines for the coronavirus, some using innovative mRNA techniques and developed by international teams have begun rolling out which we had never seen before. The death rates has decreased to a certain extent and new and cheaper tests are being developed each month. As we have entered the second phase of the crisis, which will be led by the dynamism, innovation and competence of the private sector. There are still challenges of distribution of the vaccine due to the huge overcrowded population in our country. But on the horizon, a true post-pandemic world is now in sight. The private sector has delivered the vaccines, but we should not forget the indispensable role that the state played in funding vaccine research and development at a fast speed. Only in East Asia and a few other countries of the world, we have seen an effective public and private sector response. With the exception of a stressed financial sector, India went into the coronavirus crisis with sound economic fundamentals. The lockdown in response to the threat of the virus created unprecedented friction in transactions between buyers and sellers of goods and services as well as of inputs. The lockdown has created a lot of difficulties specially for the backward classes people.