In order to deal with the growing Corona Crisis and second wave in the country, the economy is getting badly affected by Lockdown and night curfew in many states including Delhi, Maharashtra. The Center for Monitoring Indian Economy, an organization that monitors the Indian economy, estimates that over 72.50 lakh jobs (Unemployment) have been lost due to this. Economic activities are being severely affected due to the lockdown and night curfew imposed to avoid the second wave of Corona and this has again created an employment crisis. Mahesh Vyas, managing director of the Center for Monitoring Indian Economy, an organization tracking the Indian economy, told NewsBust, “The lockdown has led to the loss of nearly 70 lakh jobs in April compared to March.”
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In April 2021, about 28 lakh salary jobs were lost. During this time, employment of 6 lakh daily wage workers was lost. However, CMIE believes that the unemployment crisis is not of the level of lockout of last year. When the unemployment rate reached a record level of 24 percent. CMIE estimates that in April the agriculture sector lost about 60 lakh employment opportunities due to seasonal reasons, whereas in this month, about 20 lakh people created their employment through self-employment.
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Domestic trade suffered a loss of 6.25 lakh crore due to Kovid in April. On the other hand, the Confederation of All India Traders (CAT) has said that domestic trade in the country has suffered a loss of 6.25 lakh crores due to the Kovid epidemic in April.
The central and state governments are also estimated to have a loss of revenue of about Rs 75 thousand crore in total. During this period, the retail business has an estimated loss of 4.25 lakh crores while the wholesale trade is about 2 lakh crores. Obviously, on the employment front, the situation will remain challenging even further.
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