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Modi Govt is Blind to the Crushing Jobs Crisis -Subodh Varma

-Newsclick.in Additional funds for MSMEs and MGNREGA are going to create enough jobs, but the economy will remain in doldrums. There has been much mutual patting on the back and self-congratulation, after the Narendra Modi government announced two policy measures that could have a direct impact on job creation. These were: a special credit line of Rs.3 lakh crore for MSMEs (medium, small and micro enterprises) and an additional allocation of Rs.40,000...

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Lockdown led to massive Job Losses, show early results of an ongoing telephonic survey

Preliminary results of an ongoing study by Centre for Sustainable Employment of Azim Premji University (APU) indicate that the lockdown has had a devastating impact on the livelihood security of the working people. The survey is currently being conducted across the country by Centre for Sustainable Employment along with civil society organisations. Impact on livelihoods Analysis of preliminary data collected through telephonic interviews between 13th April, 2020 and 9th May, 2020 reveals that...

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Job Losses Soar as Modi Govt Continues to Grope in the Dark -Subodh Varma

-Newsclick.in In April alone, over 12 crore jobs were estimated to have been lost, and unemployment is at over 27% in the beginning of May. After the loss of nearly 80 lakh jobs in March, most of them in the last week after the countrywide lockdown was suddenly announced by Prime Minister Narendra Modi on March 24, latest data collected by CMIE or Centre for Monitoring Indian Economy through their periodic sample...

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Recent reports predict gloomy days ahead for the overall economy

Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of coronavirus pandemic on economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing economic and...

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Banks red-flag looming retail loan default, push for 6-month moratorium -George Mathew & Anil Sasi

-The Indian Express The extended lockdown across the manufacturing and services sectors, the resultant Job Losses along with the wave of salary cuts are projected to start impacting the repayment capacity of retail borrowers. Mumbai/ New Delhi: The possibility of loan defaults spilling over from the corporate sector to the retail segment, a key growth area for lenders in recent years, has been flagged as a growing concern by bankers at a...

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