The crisis arising from the corona virus is certainly huge. The biggest threat in India is to self-employed contract workers and daily wage laborers.
The corona virus is not only affecting the health of humans, but it is also going to prove dangerous for employment worldwide. According to a United Nations agency, around 2.5 lakh jobs worldwide could be lost due to the corona virus. According to experts, the global economy may be hit by the Great Depression, not the recession, due to the corona virus. This could shock the global economy by $ 3.6 trillion. In such a situation, we need to provide social security to the workers, help the economy, help in maintaining employment and income (ie short-term work, paid leave, Other subsidies) will have to be put in place on a large scale. Also, facilities like financial and tax relief will have to be provided for small and medium industries. It is also reported by the International Labor Organization. It has said in a study that if there is a co-ordinated policy at the global level, then the loss can be reduced to a great extent.
India is also not untouched by the Corona crisis. The number of people infected with this disease in India is increasing every day, while its third phase is yet to begin. Corona is beginning to have a wide and serious impact on the Indian economy as well. Although the government is busy fixing spikes, the effect of the corona virus is so widespread that its effects have already started showing. Opposition has already been an attacker on the government regarding employment and the decaying economy in India. India’s Chief Economic Advisor K.K. According to Subramaniam, the coming days are very important on the employment front. Only after April has passed can we assess Corona crisis accurately. If there is a decrease in employment around the world, then it is bound to fall on India too soon. We have to understand that due to the economic side effects of Corona, 5 million people lost jobs in China in January-February alone.
The biggest threat in India is to the self-employed, contract workers and daily laborers. If there is a crisis in jobs in India, then the most impact is on restaurants, real estate, aviation, cinema and entertainment, tourism, driving etc. According to an estimate, the next two quarters are going to be the heaviest on the 41 lakh temporary workers employed in the country. Assocham and Global Hunt India believe that the most negative impact of Corona is on the service sector and especially the daily wage laborers. If the situation does not improve soon, the organized sector hiring may fall by 15 to 20 percent.
The crisis arising from the corona virus is certainly huge. Due to this virus people are losing their lives and at the same time the global economy is also facing a serious crisis. The full picture of what effect the corona virus had on the global economy will be clear in the coming time. At the moment, it is certain that if the suggestions of the World Labor Organization are implemented, then this crisis can be reduced to some extent. The report also said that if the economic crisis was seen in the year 2008, the impact on global unemployment could be significantly reduced if we seriously implement internationally coordinated policy action.