Besides, 69.5 per cent of establishments had hired as many hands as on July 1, 2020, as they had on March 25, when the lockdown was first announced, showed the survey released on Monday. And, around four per cent establishments hired more during this period.
The survey revealed that wages were reduced for 16 per cent of workers and around three per cent were denied any wage during the period.
Aditi Nayar, chief economist at ICRA, said: “The combination of loss of employment and reduced or no wages during the lockdown period, exacerbated by the overall uncertainty, underpinned the fall in consumption during the first quarter of fina
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