New Delhi: The Corona virus epidemic has severely affected the Indian economy. The latest figures show that the second wave of corona rendered more than one crore people unemployed in India. Meanwhile, nearly 97 percent of households have lost their income since the beginning of the corona epidemic. The figures were released by Mahesh Vyas, chief executive of the Centre for Indian Economy (CMIE), on Monday.
Mahesh Vyas told the media that the unemployment rate could reach 12 percent in May, up from 8 per cent in April. During this period, nearly one crore people were rendered unemployed, mainly because of the second wave of corona. According to Mahesh Vyas, now that economic activities are opening up, only a few problems will be reduced, not fulfilled. Mahesh Vyas said that those who have lost their jobs are getting employment again with great difficulty. Because the informal sector is recovering slowly, but there is still time to return to the formal sector or a good quality job.
In May 2020, the unemployment rate reached 23.5 percent, when there was a nationwide lockdown. But this year, when the second wave of corona came, the states gradually imposed restrictions at their own level and the work that had started was stopped again. According to Mahesh Vyas, if the unemployment rate lasts at 3-4 per cent, it will be considered normal for the Indian economy. The CMIE surveyed about 17.5 lakh households, seeking information about the family’s income. In the Corona period, the income of many families has come down drasticy compared to earlier.
Credit: Source link
