In this lockdown period a Bollywood actor Javed Haider was seen selling vegetables on a handcart, West Bengal cricketer Raju Rahman was seen plowing the fields of another. A department store in Dwarka, Delhi, had to be closed because it could not pay rent for 4 months. These are just the glimpse few pictures of the worsening economic conditions after the Corona epidemic, the worst hit in the middle class, where more than 50 million people lost their jobs.
According to reports from institutions such as the Center for Monitoring Indian Economy (CMIE) and the Indian Society of Labor Economics (ISLE), about 130 million people have been unemployed in the lockdown. Of these, 40 per cent, or 5.25 crore were blue collar jobs. Those who worked in the office. Most of the middle class working in the private sector depends on their salaries.
From running a home, the education of children and the EMI of the home goes from their salary. In such a situation, his financial condition has become very bad due to going to the job. Not only this, those who have jobs left are also facing salary cuts of up to 10-50 percent. Far from government relief By the way, the government announced a huge package of Rs 21 lakh crore to provide relief to people and industries in lockdown.
There was no plan to give relief to the middle class in the government list. Only one crore people associated with government jobs were safe from this economic hit. In the period of Unlock-2, migrant labourers returned to the village have started getting work under MNREGA. Some of them are returning to the city, so work is also being found in small and medium industries coming on track here. But the path of new jobs for the middle class is not opening up at the moment.
Relief from corporate to poor
The government has announced to give free ration to 67% of the population with minimum age group i.e. 80 crore people from April to November. LPG also got free for 3 months in Jan Dhan accounts, 500 rupees per month separately. Farmers are also getting 6000 rupees annually. Several other measures were announced, including easy loans for corporate. Despite this, the government has no relief for the nearly 300 million people in its middle class.
Western countries gave the biggest help Dr. Surjit Das, assistant professor of economics at Jawaharlal Nehru University, says that in most countries of Europe, including Britain, the government paid 50 to 80 percent of the salaries of employees to private companies during the lockdown. This saved people’s jobs and they did not even face salary cuts. In India, only the government has paid the provident fund for salaries below Rs 15,000 per month.