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Ramana Gove

Another fund of stimulus is the need of the hour ! It may be too early to speak of recovery ! It is a known fact that there was a drastic slump in demand even prior to the pandemic..As per a report,teachers in thousands of private schools across the country are not paid salaries after March.Even government employees are not paid full salaries in some states.Air India is likely to ask several employees to go on unpaid leave for five years with cuts in salary for many.Several organisations have massively laid off staff or imposed hefty pay cuts.Many workers in establishments have not been paid salaries during lockdown and so is the case with migrant workers.Receipts back home to families from expats in Kuwait are severely affected with a new policy to prune down their number there in view of a dwindling oil economy.About 8 lakh Indians are expected to come back if the Kuwaiti Parliament approves the proposal.These are only a few examples in a few sectors without stats.There can only be erosion in consumption but not elation in such scenario ! With ease of lockdown, may be, there is some increase in spending due to whatever is available in savings which can not be taken as a major sign of recovery. We may have to watch the ensuing demand profile for a minimum of 2 to 3 months that too in the post total unlock scenario to arrive at some solid conclusions !