P Chidambaram Warns Of Job Losses Amid 'Deepening Economic Crisis'

Tens of millions have misplaced their jobs or livelihood within the final 12 months, P Chidambaram mentioned (File)

New Delhi:

Targetting the centre over the “deepening financial disaster”, senior Congress chief P Chidambaram on Thursday asserted that two main industries — telecom and aviation — are on the snapping point.

P Chidambaram, in a sequence of tweets, mentioned that hundreds of thousands of individuals have misplaced their jobs or livelihood within the final 12 months, including that the collapse of the 2 main industries will price many extra thousand direct and oblique jobs.

“When will the BJP authorities acknowledge the gravity of the deepening financial disaster within the nation? When will the Prime Minister acknowledge his failure and the failure of his financial managers?” Mr Chidambaram tweeted.

He mentioned that the aviation business has suffered huge losses and faces an unsure future except the central authorities steps in with a rescue plan.

“Will the federal government notice that one in all our main telecom corporations is on the snapping point and the federal government has no plan to avoid wasting the struggling telecom business? Will the federal government notice that the aviation business has suffered huge losses and each one in all them will go the Air India manner except the federal government steps in with a rescue plan?” Mr Chidambaram tweeted.

“Tens of millions have misplaced their jobs or livelihood within the final 12 months. The collapse of two main industries — telecom and aviation — will price many extra thousand direct and oblique jobs,” he mentioned in one other tweet.

P Chidambaram’s comment comes a day after one of many leadling telecom corporations, Bharti Airtel, posted a consolidated web lack of Rs 15,933 crore within the first quarter of the fiscal, primarily as a result of its one-time expense associated to the adjusted gross income (AGR) dues.

In the meantime, the aviation business can be going by means of a disaster as journey restrictions proceed and worldwide passenger flights stay suspended because of the coronavirus pandemic, which has hampered economies and companies.

(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

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