What is likely to be the employment Situation n India post Covid 19? What are your suggestions on how the Government should handle it?
Sir,
We are discontinued from the scheme and I don’t think that we will be able find the another one.
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Sir ministers are focusing on ₹2 per kg of rice and wheat.
Post Covid-19 will be breathtaking for both the government and citizens, I think government should first give tax holiday for companies to recoup their losses during the time of pandemic and put some measures that can attract investment from both foreign and local investors such as revisiting land decree act, interest rate, availability of loan to investors both in money and capital market.
Dear Emmanuel V Murray it is a good question, everybody wants to know what will be employment status in his country when COVID19 gets over. You are focusing on India, but the world economy has collapsed, and we do not know how much more damage it will cause. We hope for the best. Actually, let me tell you one thing, we all are confused when asking questions about COVID19 not get a satisfactory answer from anywhere any expert.
The potential situation for working in India after COVID 19 is that things go back to their previous era with caution
Although, my answer is more skewed towards addressing the state of the entire economy. It will be important for government to monitor both monetary and fiscal policies to ensure that both align to drive consumer spending. Most governments can offer tax holidays to the manufacturing and agricultural sectors as well as other parts of the real(production) sectors. Consumer spending should be encouraged by reducing bank interest rates and loans should be made readily available to small businesses.
Also, creditors should extend their default windows to allow businesses time to recuperate. Taxes should be levied on multinationals as a measure to curb the repratriation of funds to their mother countries. Tax concessions can be given to companies seeking to invest in capital projects. Similarly, safe havens can be created in various industries to encourage capital importation. Governments can raise money through syndicated loans from private financial institutions.
Finally, government can pass laws recommending a percentage of workers work remotely to prevent private organizations from capitalizing to lay off workers. The general idea is that if money is in circulation and jobs are protected, unemployment will remain low.