As you would have noticed in our subject line, we are all maintaining “Social Distancing” at Team CAJobPortal.com – your favourite finance recruitment partner
In line with the government’s directives, there is a 21 day shutdown.
At a very broad level, a single day of a complete shutdown which entails zero production of goods and services involves around Rs 50,000 crore of real GDP and hence a 21-day shut down would be Rs 10.50 lakh crore
Most of the organisations, life now runs on Slack and Microsoft Teams.
The white-collared have happily adapted to the same . With war chests in the bank, they can afford to ride out the crisis, are hunkering down in their homes. And for sure, the salary SMS will soon be coming. They are on permanent payrolls. So, life without the rush to travel long distances and put the finger on the biometric on time, is quite ok in the new avatar. The concern remains how would be the salary increments this year – maybe Nil. So they are either working or educating themselves about the virus on Whatsapp University or consuming OTT Content like The Forgotten Army on Amazon Prime, Special Ops on Hotstar Premium, Asura on VOOT and Code-M on Zee 5 and ………on Netflix
imagine the plight of the blue-collared class – the temporary workers – the cobbler just outside your office building, the street vendor who sells ‘masala dosa/vada pav’, the piece rated courier delivery guy,the temp workers in airlines, hotels, theatres etc. who cannot pay staff when there is zero income.
For this class, life has come to a grinding halt. With the shutdown, what started as a trickle became a torrent.
According to a 2005 NCEUS report, ~86% of India’s workforce was in the unorganised sector (395 million) and that these people remained largely uncovered by social security schemes or relief packages.
Finance Minister Nirmala Sitharaman announced a Rs 1.7 trillion relief package to help the migrant workers left in a lurch. But that may just not be enough.
The news channels are flooded with heart rendering scenes of migrant workers in urban India walking hundreds of miles to their native village.
Unless the governments act decisively, they will die of hunger, forget the coronavirus
This is indeed a challenging phase of life. No precedent, and no end in sight
If there is an opportunity in the crisis, it is to examine long-standing industry practices, especially towards those who are the most economically vulnerable. Why should they always be living on the edge. In December 2017 as well, we had written about this https://bit.ly/2JkVw40
And for now, maybe we could do something to help them feed their hungry stomachs
P.S. For the whte collared, you may wish to apply code STAYATHOME and do the following courses on Stock Investing, Financial Modeling and Advanced MS Excel http://blog.cajobportal.