The Corona Pandemic has not only paralysized the countries across the world but has also stopped the rotation of their Economic wheels.
Good thing is that all the state and Central Government of India have taken up the responsibility of the well being of all the people lying below the poverty line till the Corona Outbreak ceases. That’s surely the need of an hour. It’s their moral duty. Many social organizations, associations, companies and celebrities are coming up to join the squad for the fight against COVID-19.
But what about the segment that lies between the poor and rich – yes the middle class!
*The middle class that is worried about the future of their families.
*The middle class that might have or might not have money for survival for next 15 days.
*The middle class that are anxious about the unseen threats that might arise as this pandemic ends.
*The middle class that is afraid of recession, loss and unemployment that may follow.
*These middle class people do not long for financial help but desperately need an immediate financial support and facility system.
Since the lockdown was declared employers and businessmen are being constantly requested to show sympathy towards their needy employees and pay them.
This looks very attractive and noble from this side.
What about the other side of the coin where employers are suffering?
Their businesses are on absolute standstill!
They have running meters of salaries, depreciation, rents, electricity, taxations, GST, PF and various other overheads. Above that their own family to look after during this lockdown.
The pandemic has a calamity effect on businessmen, employers, entrepreneurs and a high number of middle class people.
Although the concerned associations and authorities are pondering upon necessary measures. We would like to suggest a few points for release of pressure on all the businesses. The Government can organise and extend the direct support to the indigents.
*Relief on Electricity by decreasing cost per unit for next 3 months.
*Waiver of interest payments till next 6 months.
*Companies should be allowed to retain 40-50% GST for a year.
*A share of Provident Fund and ESIC for employees to be beared by the government on the behalf of employers for some time.
*Property tax for all commercial properties to be reduced for Financial year 2020 – 21.
*For middle class people, a life saving bank loan facility upto 1 lac (on the modal on education loans) on low interest rate. Such loan facilities can be exercised to ensure the survival and protection of middle class families and for fulfilling their daily needs. The same can be repaid in installments once the corona pandemic subsides.
Waiver of commercial and residential rent for next 3 months.
*Monitor the hike in inflation of prices of necessary items.
If such plans are executed and monitored by the government, it can protect the interest of the businesses and middle class.
