Lockdown, Day 65: India faces a jobs paradox

A United Nations University study estimates that 104 mn Indians could fall below the World Bank-determined poverty line of $3.2 a day for lower-middle-income countries but the picture of where the Indian economy is headed should be a bit clearer t...

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There is a paradox seemingly rooted in inequality when it comes to the country's job crisis post COVID-19. According to CMIE, some 122 million Indians were forced out of jobs last month. These include hawkers, roadside vendors, and construction workers

While white collar workers have lost jobs too, the fact remains that COVID-19 will push a number of Indians into crippling poverty. It's all a mess but the GDP numbers which come out tomorrow should give us a clearer picture.

Track this space for latest updates...



COUNT SO FAR

  • Mumbai adds 1,044 cases, total cases at 33,835
  • Chandigarh reports 6 new cases, total at 288
  • Odisha reports 67 cases, total number at 1,660
  • Rajasthan reports 131 cases, total at 7947
  • Andhra Pradesh reports 54 cases, total at 2841
  • Karnataka reports 75 cases, total at 2493
  • Himachal Pradesh reports 3 cases, total at 276
  • 131 more from Maharashtra Police test positive
  • Number of infected AIIMS staff reaches 195
  • Uttarakhand reports 24 cases, total at 493
  • Indore reports 78 new cases
  • Manipur reports 7 new cases

World India
Tally Toll Tally Toll
5,690,182 355,575 158,333 4,531


LIFE UNDER LOCKDOWN

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  • Domestic travel resumes in West Bengal
  • 14-day quarantine must for foreign returnees in Haryana
  • NDMC headquarters sealed after employee tests positive
  • SC lays down rules for State and Centre for migrant workers
  • Marquee brands look at moving back to streets from malls
  • Agritech startups help crumbling farming community
  • Rs 2,000 fine for home quarantine violation in MP

BUSINESS AND ECONOMY

  • Google looks at Vodafone Idea stake as part of India plan
  • Govt to release GDP data tomorrow
  • Arr India joint forum seeks a Rs 50,000 cr succour from the govt
  • Government seeks USD 520 million from Cairn Oil & Gas
  • KIA to invest another $54 million in Andhra Pradesh
  • Indian economy to contract 5% in FY21, says S&P
  • Loss of revenue tops hurdle list: Leading corporates
  • Amazon India pushes private labels to increase profits
  • RBI stops 7.75% savings bonds

GLOBAL ECONOMY

  • Boeing cuts 12,000 jobs
  • Nissan plans to close Barcelona factories, to cut 3,000 jobs
  • TikTok’s parent ByteDance generates more than $3 bn of net profit
  • SoftBank’s Vision Fund is planning to cut 10% of staff
  • UK furlough scheme now covers 8.4 million workers
  • 10 years of depression and debt ahead: Economist Nouriel Roubini
  • Global jobs slump is bottoming out: LinkedIn

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AROUND THE WORLD

  • Brazil's death toll crosses 25,000
  • Las Vegas casinos to reopen next week
  • South Korea reports 79 new cases
  • America crosses 1,00,000 deaths
  • China reports 23 new cases
  • Covid may never go away even with a vaccine, shows report
  • Pakistan uses militant-tracking tech to hunt virus
  • Researchers discuss 'immunity passports'
  • Pandemic may push 86 mn more children into poverty by year end: Report
  • Nepal case tally crosses 1,000

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