Unemployment and Layoffs; economic crisis like never before but at the end its all about Who else!

By moGossip Team Jun 26, 2020  

By Shivani Srivastava | Twitter handle - @Shivani72

As we reach June 2020 end, news of layoffs and unemployment from across sectors are coming in for India.  The economic crisis that was giving its signals well before the COVID-19 pandemic set in, is now out in the open and if the trends and data are any indicators, it may take the entire second half of 2020, or Q1 of 2021 for some normalcy and relief to return.

India's unemployment peaked at 27.1 percent in the week ended May 3, but as per CMIE in the first three weeks of June the unemployment rate dropped dramatically to first, 17.5 then 11.6 per cent and now 8.5 per cent. It is estimated that the use of the MGNREGA scheme by the GOI, timely rains and enhanced sowing activities seem to have saved rural India and bring the unemployment rate down to an extent.   

However, if the happenings on ground are anything to go by, unemployment seems alarming with each passing day and COVID119 curve too. The mass layoffs by media houses; corporates especially the news of companies like Tata group looking at layoffs to save fixed costs as profits dip or by Deloitte other than companies likes Ola, OYO, MakeMyTrip, Uber, Zomato, Swiggy… Raymond … the list is unending and this is only those who are in news - have honestly shared.  

The scale and magnitude of the ones, that have not disclosed or have faced closure such, as Atlas Cycle –set up in 1951 and many that are unreported especially from MSMEs and Manufacturing sector is alarming.  The crisis in the tourism, hospitality, film and entertainment, aviation or agriculture that has been in bad shape, irrespective of any pandemic or economic crisis, with no Central Government package to citizens at large beyond those falling to BPL reflects the apathy of the system towards common man vis –a-via countries such as Germany, US etc.  

India, stands amongst the top 8 countries of the world, where unemployment is above 20 percent and if we look at the other names, a mind in all sanity will question the reality of ‘Incredible India’, ‘StartUp India StandUp India’, ‘Make In India’ ‘Demonetization’ and now the latest one to add  ….  ‘atmanirbhar bharat’.

The catastrophe India is facing or rather pushed into is like never before and the best part is that, still all is being presented as hunky dory and fairly in control be it economic crisis or the corona virus pandemic.   Ironically, the logic now being given both at Government and #wethepeople  - who voted for the current leadership and regime is now 360 degree U-turn from that being voiced before 2014. 

The looming tensions on border with China other than Pakistan - consistent loss of lives of our soldiers, the curbing of H 1B visa by US or the curb on Air India repatriation flights both –to and fro ….or the snub by Nepal reprimanding India over 'unilateral encroachment' of its territory, the rising cost of living for a middle class, explain well a lot,  provided we move beyond the ranting -the narrative set by Political strategists and advisors for Political parties over the last decade or so and still well managed.

The reports of Government at the Centre spending little over ₹1500 crore on advertisements per year and like wise by other States Governments other than the spend on election campaigns or in dismantling elected Governments in different states is all in public domain but its amazing to see how the very same middle and upper middle class is now completely in silence and if not last 70 years and the Nehrus and Gandhi’s,  its now Corono virus that is the reason.

The recent launch of PM CARES Fund to address the COVID 19 aftermath and the crores and crores of donation that has gone into it has been very interestingly kept off the limits of Right to Information (RTI) Act. hence no enquiry on the corpus can be made and this calls for complete acceptance by #wethepeople and media barring NDTV, handful journalists of the likes of Ravish Kumar, Punya Prasun Bajpai, Abhisar Sharma…Vinod Dua … . 

India is fairly silent and okay with status quo. There is no uproar now of any kind, as it was before 2014.  Opposition barring the Congress is maintaining a stoic silence and we are all comforted with the statement …..globally it's a mess and Who else !

Shivani Srivastava | Twitter handle - @Shivani72

The Author is Consultant - Marketing, PR & Corp Communication with MoMAGIC Technologies, leading Data Science driven AdTech and IOT firm based out of India. She is the Chief Communication Advisor to Vihara Foundation and author of Musings of the Lost Heart that has received heartwarming reviews on Amazon. She has set up the news and gossip platform www.mogossip.com and dabbles in theatre and writing as well.
Shivani is a B.Com Hons. from Banaras Hindu University and PGDBM from IFIM Bangalore, and carries more than two decades of experience and that includes, close to a decade at NASSCOM and brief stints with CareerNet Technologies, Indo-German Trade Development Consultancy, Rangashree Communications, Vishwaniketan, HNF etc.