The Coronavirus has caught more than 180 countries of the world. The leading industry chamber Assocham has said that the government will need to give a total package of 14 lakh crore rupees to get out of the kind of trouble that the Indian economy is in trouble due to Covid-19. The entire amount of the package will not be required to be given to the entire sector of the economy separately in a phased manner, only then the situation will be normal in the next few months. While the central government is preparing to end the lockdown, Assocham has presented a roadmap of future economic policies to the government and RBI.
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Assocham Secretary General Pawan Sood said that the situation is very unpredictable. Without big help from the government, it will be difficult for the industry to handle the situation. Sood said that a rule has been imposed on the private sector to retain its employees. We are welcoming this but also have to keep in mind the fact that the whole economy is closed, payment is not coming from anywhere, goods are stuck on the way, there is no way forward. Big companies and companies working in organized sector will bear this burden to some extent, but it is impossible for the rest of the companies to pay two to three months without any operation.
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In his statement further, Sood said, "Our demand is that either the government should provide us a loan at a lower rate equal to the cost incurred on it to ease this three-month salary burden, or it will provide 75 percent share pay and let the rest be paid to the private sector. It is very important for employees and workers to get their salaries on time. The government should take a decision about this without delay."
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