COVID is straining Modi-led India on all fronts. On one hand, the expenses of keeping one’s family safe and healthy and on the other hand drying livelihoods, both are hammering an average middle and lower class Indian’s already shrivelled up finances.
To make the world a living hell for these people, the second wave of the pandemic caused another 70 lakh Indians to lose their jobs. And this is on top of the over-burdened healthcare system and the countless Indian families who have lost their loved ones.
Talking about specific numbers, unemployment in India rose to 7.97% - the highest in the last four months. This is a 22% rise from 6.5% in March.
This data is as per Centre for Monitoring Indian Economy (CMIE), a private research firm.
The devil in the details is lockdown. Lockdown in which all non-essential businesses and employment is shut-down brings the economy and the livelihoods of most people to a halt.
Further, the prices of all goods and services tend to increase in such a fear-based environment, making day-to-day living even more difficult for the average Indian.
On top of all these agonies, government’s preferential treatment to certain sections or categories of people with financial aid ends up increasing prices for all of us.
All in all, the hell of 2020 seems poised to be repeated with the indications going towards a complete lockdown.