Hundreds of thousands of cash-starved Indian small businesses have either deferred or cut their workers' wages this month, say industrialists and union leaders, amid a 21-day nationwide lockdown to stem the spread of the coronavirus pandemic.
NEW DELHI - Hundreds of thousands of cash-starved Indian small businesses have either deferred or cut their workers’ wages this month, say industrialists and union leaders, amid a 21-day nationwide lockdown to stem the spread of the coronavirus pandemic.
All India Manufacturers Organisation - an industry body representing some 100,000 small manufacturers - said more than two-thirds of its members faced problems in paying salaries on Tuesday, the usual day for paying monthly wages. “Our first priority is to pay electricity bills, rent, bank loans and social security contributions of employees,” he said, adding that they faced delays in payments from clients, including the government.
India’s nationwide lockdown, set to end April 14, has left millions of migrant workers stranded without any other source of income. And officials have warned that some states may extend the lockdowns as coronavirus cases rise.UNEMPLOYMENT RISING
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