It’s not only #DailyWageEarners or #MigrantWorkers #FactCheck #Covid19Lockdown
Gupi Gayen ( Shirshendu )
Agnostic Innovestor I Capital Markets Strategist & Mentor I Start-up Enthusiast I Facilitator I Consultant
?? It’s not only #DailyWageEarners or #MigrantWorkers. Many Indians who are somewhere at the middle of the pyramid are facing financial /cash flow related problems.
?? They’re very much there in our Facebook friend/LinkedIn connection list. Don’t worry ---I’m not going to tag any of you but let me confirm I’m not any exception. ????
?? All self –employed folks (ex-Doctors) and people running small business/start-up(s) in unorganised / semi-organised sector(s) are having problems. This can be related with due payments not getting clear. There are definite problems of paying staff salaries for shops/restaurants/outlets which are closed/running without any business for almost a month now.
?? All businesses that has #EPC components are facing similar problems--even in organised sectors/listed entities. Employees –from entry level to senior managers are afraid of pay-cuts/job losses in #BuildingMaterial and Auto related industries, forget IT/ITES/Tourism/Hospitality/Transport. ????
?? People who had incurred sudden (& major) health/hospitalisation expenses for self/dependent family members are worst affected as reimbursement getting delayed by company/insurance. People who settled the same with credit cards are most severely frustrated.????
?? People having multiple #EMI(s) that constitute more than 60% of net salary are somewhat fucked up if their salary get delayed by even a fortnight-forget #PayCut. The same applies to many vendor companies who work for #BSE top 500 cos if their payment get delayed (e.g. #HeroMotoCorp suspended supplier payments as per E.T.--yesterday)
?? Feeling really sorry for those who invest in capital markets through #MutualFund/ #PMS route. Do not tell me I didn’t warn you guys. Many friends who called me up in last 6 months asking long term investment bets –remember what my confidential reply was !!????
***** I continue to support the decision of #LOCKDOWN in spite of all of the above. There are way outs –but, let’s first see whether people-- policy makers at state(s)/center level can find them !! They are getting paid for the same. ??
Agnostic Innovestor I Capital Markets Strategist & Mentor I Start-up Enthusiast I Facilitator I Consultant
4 年If a train stops between two stations ---and remains unattended for 2 days ---all passengers will have problems whether travelling by general or A/C compartment !!
Mentor & Chief Consultant at Resource Consulting I Mumbai I Kolkata
4 年Some privileged armchair liberals think only some migrant workers/ daily wage earners are in problem.