New Delhi: The Confederation of Indian Industry (CII) has said that economic activity has been severely affected by the lockdown implemented due to the corona virus. CII released a survey of CEOs (CEOs) on Sunday. 65 percent of the companies surveyed believe that their income will fall by more than 40 percent in the April-June quarter.
The findings of the survey conclude that the sluggishness in the country’s economy is going to be long. 45 percent of CEOs surveyed said that it would take more than a year to bring the economy back to normal after the nationwide shutdown. More than 300 CEOs were consulted in this survey. Of these, more than 66 percent CEOs are from the micro, small and medium enterprises (MSME) sector.
As far as careers and livelihoods are concerned, more than half of the companies believe that there will be layoffs of employees in their respective sectors after the lockdown is lifted. About 45 percent said that 15 to 30 percent of the employees would lose jobs. 66 percent, ie two-thirds of the people surveyed, said that their company has not yet been cut in wages.
