Business Today

STUCK IN REVERSE GEAR

On March 29, four days after the country went into the lockdown, Ram Krishna Pal, a machine operator at a component unit in Dundahera village of Gurgaon was told his services were no longer needed. Going back to his home in Sitamarhi in Bihar was not an option. Now, he is finding it increasingly difficult to make ends meet. “My contractor said the company has reduced the output due to new regulations and, hence, does not require as many people as before. Factories have opened up all around but employment has shrunk,” he says.

Dealerships, the front end of the automobile industry, tell a similar story of despair and loss of optimism. Cut to the last fortnight of March, the first phase of the lockdown, when sales executives were putting in extra hours to liquidate stocks of BS IV vehicles by the end of the month, before BS VI emission norms kicked in from April 1. “There was a lot of pressure on us and we had stiff targets but at least the business was good,” says Ambuj Sahu, who works in a two-wheeler dealership in Gonda in Uttar Pradesh. “The lockdown was a major disruption. The showroom remained shut till May 12 but the momentum had been lost. I am lucky to have the job even though I got half the salary for April. I know so many people who were doing well in

You’re reading a preview, subscribe to read more.

More from Business Today

Business Today3 min read
Road Warrior
IN THE HEART of Khalid Wani, who is the Senior Director of Sales for the India region at the American storage drive maker, Western Digital, beats the rhythm of a fervent traveller. He’s a man who believes passionately that the most precious memories
Business Today2 min read
All That Glitters
THE YEAR 2024 has so far, been a dazzling one for gold, which has recorded a new high of more than ₹73,000 per 10 gm on the MCX in 2024. The prices are up by more than 10% this year, outperforming the Nifty. The current bullish trend in gold prices i
Business Today1 min read
Low Burden
A combined approach of individual and HUF income can help a married couple enjoy more tax benefits Gifts received from spouse are tax-free up to ₹50,000 A taxpayer can reduce tax liability or avoid clubbing income by loaning to their spouse at a cert

Related