Thoughts & Facts

Ref: Centre for Monitoring Indian Economy Pvt. Ltd. (CMIE)  On the eve of 24th March 2020, Prime Minister Narendra Modi announced a nationwide lockdown for 21 days to tackle the ongoing COVID-19 pandemic. The very next day our country saw a very eerie atmosphere with all the non-essential services stopped the country came to a standstill and in the coming weeks saw a huge rise in people losing jobs. This situation hit hard on the common man but not more than what our migrant laborers faced, with their work stopped most of them lost their jobs and then began their worst nightmare. Before we discuss this any further let us understand more about the current labor workforce in our country. According to the World Bank as of March 2020, the current labor force is at 494 million and most of them don't hold a regular job that comes with a written contract or regular payments into their bank account, or into their pension funds. To make matters worse presently there is no formal sur