India Should Have Done More To Protect Jobs: McKinsey official

MUMBAI: India should have done more to protect jobs during the pandemic, a senior official from a global consultancy firm said on Tuesday.

Alok Kshirsagar, a senior partner with McKinsey & Company, said the United Kingdom ran a very effective programme to protect employment through the payroll protection initiative, while the US was also not so effective because they were not well-targeted.

“I think in India, frankly, we should have done more to protect employment in some way, shape or form,” Kshirsagar said while speaking at an event organised by industry lobby grouping CII.

It can be noted that unemployment had touched record highs during the pandemic across the organised and unorganised sectors.

 Analysts are expecting a surge in bad loans from the otherwise resilient retail segment for the banking sectors because of such reverses.

Source: The New Indian Express

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