Indian Prime Minister Narendra Modi also sees an opportunity for India in the Corona crisis: exports are to continue to rise, and the country is to become more independent from abroad. But the unemployment rate continues to rise.
TDespite India’s growing problems in the Corona crisis, the Prime Minister also sees the opportunity to strengthen his country’s influence. As the number of unemployed skyrockets, Narendra Modi hopes to permanently increase Indian manufacturing and exports. On the other hand, Asia’s third largest economy should become less dependent on foreign countries: “The crisis is also an opportunity to promote ‘make-in-India’ and to reduce dependence on other countries,” said Modi. His campaign, which he launched during the 2015 Hanover Fair, was designed to create more work for Indians – even in normal times, the Indian government has to create around 12 million new jobs every year.
Modi announced at the same time that the salaries of all its members and parliamentarians would be cut by 30 percent for one year. The money saved goes to an aid fund. The decision does not affect the ministers’ pensions and allowances. On Monday evening, the country with its almost 1.4 billion people officially counted almost 4,300 corona cases.
A country in a coma
India’s workers are suffering severely from the coma Modi put the country into overnight 14 days ago. The unemployment rate, which the analysts from CMIE determined, has risen to almost 31 percent in the cities in the past few days. The quota on the subcontinent has already shot up to a good 23 percent. In mid-March it was 8.4 percent. In the two weeks since the government imposed an extensive ban on going out in their country, an additional 50 million people have lost their jobs. For comparison: in New York alone around ten million people have registered as unemployed in the past two weeks. Almost 90 percent of Indians work in the informal economy, without contracts or insurance. There are more and more reports from the remote villages that the people’s food supply was insufficient.
Modi has already instructed his cabinet to work out an economic plan for the end of the crisis. He emphasized that India will now find better export conditions due to Corona: The ministers should find new sectors and additional countries for export and prepare them for the post-crisis period. The country must strategically prepare for the consequences of the crisis, just like in war, warned the Prime Minister of the second largest country in the world. “Our country needs to reduce its dependence on other nations,” said Modi. “The crisis offers the opportunity to become independent in the medical sector.” Modi has just given US President Donald Trump an assurance that he will support his country with drug deliveries.
At the same time, Modi is preparing an end to the 21-day blackout with its drastic consequences: “Now a step-by-step plan for the slow opening of parts of the country without trouble spots should begin,” demanded the Prime Minister. Here, however, he encounters headwinds: The Prime Minister of the young country Telangana called for the drastic curfew to be extended by one or two weeks beyond April 21: “We can then build up the economy. In the current situation and due to India’s weak health care infrastructure on the one hand and the army of workers on the other, we have no other weapon, ”said K. Chandrasekhar Rao.