50% of the small business I know, are going to start off with a negative net worth.
30% of the small outlets in the hardware and electrical outlets will go out of business.
15% of Kirana and other grocery outlets will shut down permanently.
Almost an entire year of Small Business Profits are going to get wiped out, just to pay the amount due to the banks.
Their reserves are almost depleted in paying salaries, with zero business.
Unless the FM steps in now, we are looking at a financial catastrophe, which will take 3 years to recover.
If they go down, the companies go down as well.
And most of our manufacturing is dependent on these companies as well. So they get hit too.
The salaries start getting reduced and job losses begin. Tax revenue falls drastically.
The ripple effect will be devastating.
But what do babus care? They get their DA