Although the Corona epidemic affected all facets of society and populations, statistics show that businessmen in the nation were the most severely affected. They were forced to commit suicide as a result of a financial problem brought on by the shutdown of businesses as a result of the lockdown.
Data from the Economic National Crime Records Bureau (NCRB) show that during the Corona period, traders committed more suicides than farmers.
Karnataka tops in this matter
In the cases of suicides of businessmen, the state of Karnataka in the country topped. Karnataka accounted for 14.3% of all cases involving businessmen, followed by Maharashtra with 13.2% and Madhya Pradesh in third place with 11.3%. Following this, Tamil Nadu and Telangana have the highest rate of suicides among the states, with Tamil Nadu accounting for 9.4% of all suicides and Telangana for 75%.
The National Crime Records Bureau (NCRBmost )'s recent economic data show that 12,055 businessmen died by suicide in 2021 for various reasons. The number in 2020 was 11.716. The results of a survey of entrepreneurs, which showed a 7.2% increase, were also included in this study.
Compared to farmers, there were many more deaths in the corporate sector. 10,881 farmer suicide deaths in all were recorded in the nation in 2021, According to it, the number of self-employed business owners who committed suicide rose by 54% in 2021 compared to the data from 2018.
According to NCRB data, insolvency and an increasing debt load are the primary causes of businessmen's deaths, which is also supported by a survey of 1,000 small and microbusiness owners by EY (MSMEs). The survey has brought to light the whole picture of Corona's consequences on the business. About 70% of those who participated in the survey stated that there was significant loss during the Covid 19 pandemic as a result of different problems like low order trading and a lack of raw supplies.