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JSW Group Chairman Sajjad Jindal has urged the Centre to chart plans to salvage the economy after containing the pandemic.
The lockdown has had a positive impact on controlling the virus spread, but now it is also imperative to focus on economic well-being, said Jindal in a tweet on Tuesday.
“We need to ensure that the economy does not fall into a slumber. The country has to take a huge effort if that happens,” he said. Though the spread of the virus has been controlled it will remain a threat till a vaccine is developed, he added.
However, the country has to find a way to work within the ‘new normal’ to quickly salvage the economy, said Jindal. “A depression in the economy is also a threat to the nation,” he said.
Interestingly, the Supreme Court has directed the Centre to reply within two weeks on a petition filed by various corporates challenging a government directive to pay full salaries for the lockdown period.
Accepting the petition for hearing, the SC Bench comprising Justices NV Ramana, Sanjay Kishan Kaul and BR Gavai observed that the question is — if business does not start, how long can the entities sustain themselves? The issue needs hearing, it said.
Though steel and other companies including JSW Steel have continued with production and are paying employees in full, the fall in demand has cast a gloom on their prospects.
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