Indian industry has welcomed the decision to extend the nationwide lockdown by 3 May. But, to deal with the difficult situation facing the economy due to the corona virus epidemic, the industries have also emphasized the need to provide incentive packages.
It is worth noting that earlier Prime Minister Narendra Modi announced the extension of the lockdown till May 3, 2020 and said that during this time no employer should remove the employee who works here. However, he said that detailed guidelines on implementing further lockdowns would be issued a day later on 15 April.
The Prime Minister said that after April 20, some relaxation can be given in those places where corona virus will not spread. Meanwhile, the devastating effects of the lockdown have started appearing on the economy, raising concerns over the livelihood of millions of migrant laborers. Due to this, Chief Ministers of many states have sought exemption for some areas.
Sangeeta Reddy, President of the Federation of Indian Commerce and Industry (FICCI), said that it is estimated that India is losing about 40 thousand crores daily due to the nationwide lockdown. Along with this, Reddy said that a loss of Rs 7-8 lakh crore is estimated during the last 21 days. Reddy said that between April and September 2020, there will be a crisis on about 40 million jobs, in view of which immediate relief package is also important.
Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said the Prime Minister’s decision to continue the lockdown was necessary to prevent a major humanitarian crisis. Banerjee said that the Prime Minister has also given a guideline to get out of the lockdown after April 20, which will help in making a better plan for the industries.
Apart from this, the National Association of Software and Services Companies (NASSCOM), an organization of the IT industry, said that we are happy with the proposal to give exemption from restrictions in non-transition areas. Nosscock said that we hope that the central government will soon announce an economic stimulus package, so that it can focus on rebuilding the economy. Because, the work of saving both life and livelihood must go hand in hand.