Paying for the business losses
Manufactures will increase their prices, especially the FMCG and other products which they know that consumers commonly buy. And retail prices will also increase. So, the customer will have no choice but to pay the increased amount or else do without the product.
Same for Services, like maintenance, health, hotels, education travel etc.
We have already started seeing this. In Bangalore, long distance private bus operators have jacked up their prices by 3 to 4 times the normal. The state road transport corporation has given their buses to private bus operators on hire, instead of running it themselves at normal fares. So, both the state corporation and the private bus operators are winners. Those who want to travel, especially the migrant laborers either have decided not to go or have taken loans to pay the bus charges.
Then, our pest control person, who used to charge Rs. 1000 for a visit, is now charging Rs. 4000.
Government services will follow suit.
So, consumers beware. more
During festival season everyone is charged by twice or thrice more than normal days for going one place to other.
Airlines charges are not hidden to anyone. Which authority is caring till date; hence no one is going to do so even now.
In present situation MSME - a low profit earning, self employed or most job creating sector - has to pay full salary, interest and power bills when they were have no earning, now why not they try to compensate their earnings? more