Page 8 - newsletter 14 aug

THE PANDEMIC COVID- 19

AND UNEMPLOYMENT
G e e t i k a , X I I C

Kalam’s vision 2020……all hopes of
2020….economic objectives of 2020……
and human capital formation of 2020
were as high as sky in the beginning of
this unpredictable year but all seem to be

shattered from march end. Whether
countries are developed or developing,
the corona virus has gripped the entire

world’s social and economic health in its
overpowering hands and the most
severe of them is UNEMPLOYMENT.

Under the Pradhan Mantri Garib Kalyan
Yojana in India, 312 billion Indian rupees
were accrued and provided to
around 331 million beneficiaries that
included women, construction workers,
farmers, and senior citizens.

A GVA loss of more than 9% (Gross value
added) was caused. Between February and
March, the Indian households who
experienced a fall in income went up to
46%.

Unemployment in India went up to
27.11% in June 2020 from 7.87% in
June according to the monthly data
available from the Centre for Monitoring
Indian Economy leading to 1/3rd of
workers getting into casualisation. This
was a result of decrease in aggregate
demand and disruption of workforce due
to social distancing.