NEW DELHI : Dozens of companies in sectors that have been the worst hit by the extended national lockdown are on the brink of bankruptcy with the government ignoring their pleas to help cushion the blow from the coronavirus pandemic.
Many of these companies, especially those with weak balance sheets in sectors such as aviation and hospitality, are seeing hopes of a revival dwindle amid a lockdown, now in its fourth phase, that has caused revenue streams to dry up overnight.
The government’s measures, which stressed on structural reforms, have mainly addressed supply-side issues through a liquidity boost and have largely overlooked industry-specific demands for a rescue package. This has put the survival of these firms, which are bleeding cash with little or no revenue, and the jobs of thousands of people employed by them at risk.
