COVID is straining Modi-led India on all fronts. On onehand, the expenses of keeping one’s family safe and healthy and on the otherhand drying livelihoods, both are hammering an average middle and lower classIndian’s already shrivelled up finances.
To make the world a living hell for these people, the secondwave of the pandemic caused another 70 lakh Indians to lose their jobs. Andthis is on top of the over-burdened healthcare system and the countless Indianfamilies who have lost their loved ones.
Talking about specific numbers, unemployment in India roseto 7.97% - the highest in the last four months. This is a 22% rise from 6.5% inMarch.
This data is as per Centrefor Monitoring Indian Economy (CMIE), a private research firm.
The same is corroborated by Monster Employment IndexIndia, which in Marchwitnessed a 15% year-on-year decline.
The devil in the details is lockdown. Lockdown in which allnon-essential businesses and employment is shut-down brings the economy and thelivelihoods of most people to a halt.
Further, the prices of all goods and services tend toincrease in such a fear-based environment, making day-to-day living even moredifficult for the average Indian.
On top of all these agonies, government’s preferential treatmentto certain sections or categories of people with financial aid ends upincreasing prices for all of us.
All in all, the hell of 2020 seems poised to be repeatedwith the indications going towards a complete lockdown.