The country’s economy is likely to suffer significant losses if the daily wages of 23 crore people are affected. The growth rate will also be affected if the expenses of the people are affected due to low income.
The worker was not yet overcome by the previous lockdown that he was again trapped in the lockdown. Workers’ mandis have become deserted again. Anyway, the construction work was not accelerated even after the last lockdown opened. Now Azim Premji University has claimed that the daily wage of a quarter to three hundred has become difficult for about 23 crore people.
The country’s economy is likely to suffer significant losses if the daily wages of 23 crore people are affected. The growth rate will also be affected if the expenses of the people are affected due to low income. However, Oxfam has said that perhaps even after this, India should be counted among the fastest growing economies. But this would be the country that would be the most unusual.
However, there are some companies that are optimistic about the future. Blackstone Group Inc. Company Chairman Stephen Schwarzman believes that they are looking forward to a good future. The Blackstone Group has invested billions of dollars in India. This company has several large office towers. Schwarzmann said that in the next ten years we will invest more in India than before.
However, the future of the former RBI Governor D Subbarao is not looking bright. D. Subbarao believes that the misery on the workers of the informal sector, ie the road laborers, can harm India’s long-term progress. Inequalities in the country have become more strident. The formal sector has returned to normalcy, but the informal sector is still in trouble.
The slow growth rate will affect the laborers working in jobs like 20 to 30 thousand in cities like Mumbai, Ahmedabad, Surat, Delhi and Kolkata. In these circumstances, while the second wave has wreaked havoc, and the fear of the third wave is already home, it is very difficult to say how much damage Corona will cause to the country’s economy.
