I was recently speaking to a friend in London and he told me that the UK government is paying a good amount to all citizens during LockDown. Wondering how it will motivate people in the long run doing no work and still getting paid?
For businesses asking their employees to work is backfiring because many employees are not giving so much importance to assigned work since the Government was already paying for doing no work.
The money doled out is huge. Just imagine, all employees of airline companies are being paid GBP 2500 per month till September. India is truly a poor country! We are unable to even take care of the lower strata of the society, forget the middle class.
Loans to Small Businesses in the UK are almost like grants with an interest rate about 1% & a moratorium of 12 months. No wonder all Small Businesses are opting for it. In India it’s so different! Here the banks say, “Pay up your EMIs as per schedule otherwise we won’t give you loans in the future.”
Is the UK model of paying and keeping everyone locked in, a better option or India is doing this better by telling her citizens that be “Atmanirbhar” (self sufficient) and adjust the lifestyle to “Live with Corona”?
What do you think?