Experts feel that in the hard times of economic meltdown,the government should come forward to provide social security to the laid-off staff.
Speaking on the sidelines of an interactive session organised by the Bharat Chamber of Commerce (BCC) on Wednesday,SL Rao,Chairperson of the Institute for Social and Economic Change said: The government should adopt measures to provide either a grant or loan to the laid off employees and ensure a temporary social security system.
He claimed the foundation of the Indian economy is not very strong and the recession should not be considered only as an imported phenomenon. With entire economy,including the small and medium enterprises,real estate and the retail sector,hit by the slowdown,there would be no significant growth in the economy for the next two years.
State Chief Secretary Asok Mohan Chakrabarti asked the chamber to review the stimulus packages by the governments.