India to lose 130 million jobs due to Covid-19 pandemic: Report

India is set to lose around 130 million jobs due to the Covid-19 pandemic, and 40% of those would be blue-collar jobs, says a report by Global Consultants.

India has crossed over 3 lakh confirmed Covid-19 cases and the numbers continue to rise. More than 9000 people have died because of the coronavirus. The states with the highest number of cases are Maharashtra, Tamil Nadu, Delhi, Gujarat and Uttar Pradesh.

In such a trying time, a major problem being faced by various job industries is the lack of working capital. The crunch is being felt despite the EMI, loan and tax benefits and there will be around a 9% interest rate will be around



9%.

As per the report, the following industries would be worst hit due to Covid-19:

.Aviation

.Automobile

.Travel and tourism

.Food

.Entertainment

.Manufacturing

As per Genius Consultants MD RP Yadav, those industries servicing people during Covid-19 have been doing good during this time and would likely see and rise in the number of jobs, such as Healthcare, Pharmaceuticals, e-commerce, IT services, Essential retail.

One of the highlights of the MD’s statements was that he doesn’t foresee India’s GDP growing more than 1.0% to 1.5% this year.