16th April, 2020 - When Lockdown is lifted

I asked Aposh what he will do on 16th April, 2020 if the Government decides to lift the lockdown. He said he would go to have an `egg roll' not a `chicken roll' which prefers as his pocket would not permit chicken roll. However, he said that he would have a chicken roll once his pocket allows it. Aposh then added that eating was important but he would have to go to the place where he works to start working. This could be the words of most of the people. But with all shut down except emergency services, 16th April would be a busy day.

With already several PSBs no more from 1st April people would have to look for the lost banks i.e. United Bank, Allahabad Bank, Oriental Bank of Commerce, Syndicate Bank, Andhra Bank, Corporation Bank. They are there but under different names. One who had a savings bank account with United Bank would have his account with PNB. But to the relief of all Yes Bank would be found. The Bank was not made to fail though it had failed. Government acted fast in saving the Bank like AIG in US in 2008 but allowed Lehman Brothers to fail.

Aposh earns his living by doing a job with a small firm. It is not a company so it is not a corporate. His firm does not qualify to participate in CSR activities as it is not a company and is not eligible to undertake CSR activities. CSR is only to companies which fulfil certain criteria. If his firm does any activity which is in the list of activities list in Schedule VII to the Companies Act, 2013( `Act') . The Act is meant for companies. CSR is for certain companies. But CSR is defined as Corporate Social Responsibility and not Company Social Responsibility. Corporate is not defined in the Act. However, the dictionary defines corporate as large company or group of companies. If his firm any of the activities listed in Schedule VII his firm will not be said to have done CSR activity. To-day CSR is a source of public finance for the Government. Several changes are being made to plug loop holes to make the source full proof. Aposh believes in , `health is wealth' and is doing all to safeguard his health. He washes his hands often, goes out wearing mask to see that he does not fall a pray to COVID -19. He will serve his 21 days quarantine at home to save society.

However, Aposh remained idle at home as he did not have the facility of working from home. His firm does not have any scope for work from home. It is a small time firm. A MSME having Government registration. The promoters duo are hard working and are working honestly to keep the firm going. The firm has a loan taken from a nationalised bank now merged with another bank termed anchor bank. Interest is served for the cash credit. However at times there is roll over of term loan instalments. The firm produces spare parts for an machinery exporting company. The firm employs about 14 people altogether. The employees support about 4 persons each in their family. There are about 70 people the firm supports directly for a living There are others also who indirectly depend on the firm also. It is a group of about 120 people including suppliers. Aposh therefore, depends on living out from the unorganised sector.

Aposh is waiting for 16th April to come but is not sure whether he will find a job at the firm when he goes to work to his firm. This is the case for most people who make a living from the unorganised sector. India has about 13 Crore work force. Out of the work force, only 2.4 Crore work in organised sector. 10.6 Crore work in the unorganised sector. The unorganised work force is the back bone for all activities the country boasts of . So on 16th April when the workforce in the unorganised sector try to report for duty it is difficult to say how many will be able to find their jobs. The figure of employment reveal that the country has a work force which will be in the face of uncertainty. While many of the workforce are back to their homes and are waiting to go back to work, it is not certain how many will be able to move out freely. The state borders are locked. Due to the present lockdown small firms are going to feel the heat with bank interest servicing and instalment payment.

Organised sector will not be in a better position. For the sector depends on the unorganised sector. When we travel in a train ( only AC coaches ) are cleaned at intervals, food is served during the journey against payment. We find a number of persons performing such activities. All such people are employed by contractors who are awarded contracts by the railways. So there is unorganised labour all round which is keeping the organised firms moving. It is very hard to say what will happen. The organised sector is dependent on other countries for several items for their activities and are also dependent for their sales to the different countries. It is globalisation. COVID 19 has upset the apple cart. Work force from different countries have returned to their home countries. This has caused the western to have COVID 19 victims. There are 74697 ( as on 7th April,2020) deaths so far. European countries have been hit the most. In India there are 77 deaths so far against 4261 victims. Unless the advanced countries lift lockdown and resume operation, India will not be able to do much. SENSEX and NIFTY will give figures which is going to upset many things.

With the States blocking the borders, there will be restriction on labour movement. With production and sales hit due to the labour movement restrictions, production is set to suffer. Consumerism will be affected. This will affect industry as a whole which is bound to hit capital inflow by private sector and banks.

With a few days remaining, we are waiting in darkness about the post 16th April period. What the economy needs the protection of JOBS the ultimate of everything including education.