Bengaluru: Coronavirus continues to penetrate - Causes huge job, tax losses


Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Jun 30: As per an estimate, the loss inflicted on the state by coronavirus has been in the order of Rs 40,000 crore for all sectors. At the same time, the pandemic has delivered a further blow in the form of 30 percent job loss and 70 percent tax loss. The disease, which has come as a bolt from the blue, has drained away all the hard and good work done to improve the economic situation of the state.

Sectors like tourism, readymade, manufacturing, hotels, real estate, transport, and information technology have, as per an estimate, lost not less than Rs 40,000 crore in such a short period of time. As a result, the government has been getting about 30 percent of monthly average tax collection of 7,000 crore.

Manufacturing sectors like steel, cement, electronics and automobiles contribute 18 percent of the state's GDP. Out of about a crore people employed in small, medium and big industries, 30 to 35 percent have lost their jobs. As many as 45 big information technology companies employing over 5,000 people each and thousands of other smaller IT companies with an annual export turnover of Rs 6,000 billion dollars, are heavily dependent on USA and other countries. Loss in this sector is huge, and the job loss is also difficult to assess.

As many as 60,000 hotels and 5,000 lodges employing over five lac workers are now slowly picking up after a long lull of three months. But they are not getting even 30 percent of their previous business. Catering industry is down in the dumps and hospitality industry is estimated to have lost Rs 2,500 crore.

In addition, real estate, automobile, small industries etc have also lost hugely.

 

 

 

  

Comment on this article

  • Jairam Mulky, Moodabidri

    Tue, Jun 30 2020

    Govt should provide things at discounted price for next 2-3 months. Also bigger companies can cater food to boost the catering industry

    DisAgree Agree [1] Reply Report Abuse

  • Evans C. Sumitra, Udupi/ New York, USA.

    Tue, Jun 30 2020

    Nivrutti, Karkala, Your comments make no sense at all.

    DisAgree [1] Agree [9] Reply Report Abuse

  • Ponkra, Shirva

    Tue, Jun 30 2020

    Coronavirus is not continues to penetrate but BJP virus continues to penetrate to the people of India.

    DisAgree [5] Agree [25] Reply Report Abuse

  • R.Bhandarkar, Mangaluru...

    Tue, Jun 30 2020

    That is why all should come together in times of crisis like these....
    Not keep pedalling cycles to protest like expetienced peddlers coming to venues in flashy cars....
    Hope realisation dawns soon on everybody...

    DisAgree [23] Agree [6] Reply Report Abuse

  • Prakash, Mangalore

    Tue, Jun 30 2020

    I Agree with with you. There's no point every time blaming, we need to find solutions.

    DisAgree [2] Agree [6] Reply Report Abuse

  • Prakash, Mangalore

    Tue, Jun 30 2020

    USA,China, Russia, Germany and most of the advance countries can sustain due to they have sufficient Risk Management Fund.
    Whereas India due to no proper planning we cannot.

    DisAgree Agree [15] Reply Report Abuse

  • Lawrence, Mangalore

    Tue, Jun 30 2020

    India has trillions dollars of gold in private hands and in religious trusts. May be people should get rid of a part of their possessions during these rainy days and replenish it when economy takes off.

    DisAgree Agree Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jun 30 2020

    This is the time for Government has to reduce prices of Diesel to bring down Inflation ...

    DisAgree [4] Agree [36] Reply Report Abuse

  • Kiran Dsouza, Mangalore

    Tue, Jun 30 2020

    China is responsible for this disaster worldwide because they did not contain the virus at source even after knowing it. China has to bear these losses & also it has to pay huge compensation to our soldiers who are killed mercilessly by them for border land claim during this Pandemic.

    DisAgree [6] Agree [27] Reply Report Abuse

  • sri_elder, Karkala

    Tue, Jun 30 2020

    Opposition parties have many issues to raise like closing down of borders for passenger traffic etc. But unfortunately opposition parties do not like to bring up such issues and control pandemic.
    If you control pandemic, then automatically economics will improve.

    DisAgree [28] Agree [5] Reply Report Abuse

  • Sp, Mangalore

    Tue, Jun 30 2020

    You should have attended yesterday's protest

    DisAgree Agree [6] Reply Report Abuse

  • Anwar, Mangaluru

    Tue, Jun 30 2020

    Hoe funny, you are even blaming this on opposition. Blame gaming cannot get any worse.

    DisAgree [2] Agree [10] Reply Report Abuse

  • sri_elder, Karkala

    Tue, Jun 30 2020

    Anwar- central government policies have failed in some areas. For example, they should have given pocket money (cash in hand) to people in distress during first phase of lockdown, and requested everyone to stay where they were.
    No state border should have been opened until corona goes down completely, except goods. For international passengers too, government should have given money in distress through embassies and only urgent very few people should have been travelled to India. By this time India's situation would have been better.
    Do you expect opposition to understand this

    DisAgree [4] Agree [2] Reply Report Abuse

  • Bhavya Baliga, Udupi

    Tue, Jun 30 2020

    Why keep drumming up the same bare facts day in and day out? Things are bad, will continue to be worse for some more time.
    No solution unless we conduct ourselves responsibly.

    DisAgree [7] Agree [11] Reply Report Abuse

  • Cynthia, Kirem

    Tue, Jun 30 2020

    Very true.... good message.... every one should be aware their responsibility.... Some people came from outside and were under quarantine, didnt follow the guidelines properly and hence started roaming outside..As a result it got spreaded widely...

    DisAgree Agree [10] Reply Report Abuse

  • sri_elder, Karkala

    Tue, Jun 30 2020

    India need to follow Chinese model to control pandemic...
    Passenger traffic between states should be stopped completely. Goods movement should be allowed.
    Situation to go out of control soon since there is inflow of people from other states and other countries.. quarantining those people difficult task and locals got disease from them...
    So when will government learn lesson?

    DisAgree [6] Agree [13] Reply Report Abuse

  • Rolf, Dubai

    Tue, Jun 30 2020

    Why following China .

    DisAgree [4] Agree [24] Reply Report Abuse

  • sri_elder, Karkala

    Tue, Jun 30 2020

    Best practices should be copied from anyone, even if they are our big enemies

    DisAgree [9] Agree [8] Reply Report Abuse

  • Ponkra, Shirva

    Tue, Jun 30 2020

    If you copy enemies tactics, what is the difference between you and enemy. Your mind full of evil because you copied enemies ideas in your life.

    DisAgree [1] Agree [9] Report Abuse

  • John, Mangalore

    Tue, Jun 30 2020

    They are evil smart. They kept international connection open to spread virus and wreck others' economy. Their one city (made ) got affected rest of world many cities got affected. How, definitely they must have the cure and the godless communist do not reveal it to the rest of the world to weaken and to control it. (Here and there some cases reported for namesake for time to time. God only know if they planning anorher one for their greed of controlling the world)

    DisAgree Agree [13] Report Abuse

  • Nivrutti, Karkala

    Tue, Jun 30 2020

    Not affected only in India but worldwide. Yet we are in better stage as compare to european and middle eastern countries where all structures are collapsed of living.

    DisAgree [45] Agree [14] Reply Report Abuse

  • Wilson, Udupi

    Tue, Jun 30 2020

    Joke of the month,why you compare with other countries?when we have a clueless FM what you can expect from her?those countries government will look after them, where here is we have to look after the government,This is called our great india with 56" PM.

    DisAgree [1] Agree [19] Reply Report Abuse

  • Rathan, Mangalore

    Tue, Jun 30 2020

    Wilson
    You just Compare the death rate per thousand of population. India is far better of than any country. Compare our total population and density per sqkm. Even we r density populated country our Govt has managed the crisis very well. Ur GDP /Tax /Job only if you r alive
    So stay home stay safe

    DisAgree [5] Agree [1] Reply Report Abuse

  • Chandu, Karla

    Tue, Jun 30 2020

    Looks like you just returned from ME and have even a clue about what's going on in the country. Which structures in the middle east and Europe collapsed, is it Dubai world trade center, burj khalifa, burj Al Arab, Atlantis, hamdan tower, Saudi Bahrain bridge, eifel tower, leaning tower of Pisa and so on. ME countries with their enormous government reserves can stand any weather to care for their citizens without paying taxes, where as here in India it's not the same. Don't comment looking at Chathurmukha Basadi and Gomatabetta structures which can stand all weather and economic conditions .

    DisAgree [1] Agree [6] Reply Report Abuse


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Title : Bengaluru: Coronavirus continues to penetrate - Causes huge job, tax losses


 
 
 
 

 
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