A report by International Labour Organisation (ILO) predicted that due to the Corona virus, about 40 crore Indians are likely to go into deeper poverty. India has a majority of informal workers and already due to the lockdown, a million people have lost their jobs and the number could go up in the coming days.
The report of ILO has claimed that India is less equipped to handle the Corona virus spread and lockdown. The Corona is also effecting the working hours and earnings globally. In the second half of 2020, nearly 20 crore people are expected to be jobless while food, retail, manufacturing, business and administration sectors are going to be severely hit.
ILO’s report added that the impact of Corona virus is going to be larger than the financial recession of 2008-09. 1.25 billion workers are employed in the above mentioned sectors globally and they are at high risk of companies getting laid off. In these most of them are low-paid and low skilled workers and losing a job could cause a serious damage to their daily income.