There has been a big jump in labour remittances in the month of September, indicating the return of labourers after reverse migration during the months of lockdown. This is an indication that more people are returning to work after the lockdown severely hampered business activity.
A new SBI Ecowrap report indicated that the higher labour remittances were also accompanied by greater creation of first-time payroll jobs in August. The report also noted that the government has to work towards putting more money into the hands of the poorer people directly in order to negate the economic devastation caused by the pandemic.
The data also suggested that the average balance of Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts marginally increased to Rs 3,185 in October – a slight increase from Rs 3,168 in September.
Source: India Today
