Stock market needs to be deemed as an essential service

Recognising the importance of capital markets in ensuring the nation's economic stability, says Vijay Bhushan.

The current Coronavirus (COVID-19) pandemic has shaken up every major economy of the world and wreaked havoc in global financial markets, including India. As the number of infected cases has started rising, the government has announced a 21-day of the country, asking every business, office and industry sector to shut shop temporarily, except the essential services.

Recognising the importance of capital markets in ensuring the nation’s economic stability, the Government of India, however, decided to keep services of stock market entities exempt from the purview of this 21-day lockdown.

This distinction was indeed well placed as smooth functioning of Capital