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Opinion | The big funding challenge that small businesses face
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Their credit lines get cut off, especially in crises, and they need policy support to keep funds flowing The present pandemic-induced lockdown has exposed the vulnerability of a large part of India’s labour force.
These are the daily wage earners and workers in the informal sector. Their livelihoods are precarious, earnings barely enough to make ends meet, and they do not have financial savings to fall back on.
Unlike in developed economies, they do not even have social security to bank on. They may be just above the poverty line, but switch off the economy even for a week, and they fall below it.
What is true for this large class of workers is also true for micro, small and medium enterprises (MSMEs). India has an estimated 63 million of
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Deaths: 459 652
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