COVID 19 SHOCK Risk of 13.5 crore jobs in India Recovery in W shape

The corona(Covid 19) epidemic is shaking the world

COVID 19 SHOCK

One out of every six people in America has lost a job. Applying for unemployment benefit The situation of almost all countries, including the Sovereign, looks dangerous.

International management consulting firm Arthur D Little has estimated that about 13.5 crore employees in India are threatened by the economic crisis caused by the corona-lockdown.

There are concerns that over 12 crore people may fall back into poverty.

Risk factors for India’s GDP

The report says that the aftermath of the corona has reduced people’s per capita income and impacted costs and savings.

Job loss, which means losing jobs, millions going back into poverty, and declining per capita incomes will hurt India, leading to a reduction in Gross Domestic Product (GDP).

GDP growth is down 10.8 per cent

The report says that looking at the growing number of coronary cases in India day by day is likely to take the shape of W.

The country’s GDP is projected to shrink by 10.8 per cent in fiscal year 2020-21, and grow by just 0.8 per cent in fiscal 2021-22.

This has a profound effect on them

The report also highlights aspects of India’s overcoming the economic challenges faced by Corona, including the Points Program, a program to revive and power the economy after Corona.

The projected GDP slowdown is likely to have a devastating impact on jobs, poverty alleviation, per capita income and nominal GDP.

Covid 19 shock The unemployment rate is 35 percent

The country’s unemployment rate could rise from 7.6 percent to 35 percent, the report said. There are about 13.6 crore jobs and 17.4 crore unemployed. It claims that 12 crore people will fall into poverty. Of this, 4 crore people will become poor.

Atmanirbhar Bharat is a good step

The report predicts that India will see an economic recovery in the shape of W. Barnik Chitran Maitra, a spokesman for Arthur d Little (India and South Asia), said India could have a financial loss of $ 1 trillion.

India has set a target of $ 5 trillion economy over the next five years,

which requires immediate stimulus and structural reforms. Prime Minister Narendra Modi has foresaw that the Atmanirbhar Bharat Abhiyan was a good step in this direction.

 

Leave a Reply

Your email address will not be published. Required fields are marked *