Parents should not give up on educational needs of childrenSalaries are being cut, even in existing profit-making companies. There is a big lack of demand and the immediate area where the cost reduction can be done is on supervisory salaries and a total freeze on recruitment at the workmen level.
There is a big impact on farm incomes as well. There is a lack of demand everywhere and only the good monsoon predicted now may bring some cheers to the farmers. The net result is that the parents are now borrowing money from banks in the form of jewel loans, where they can just pay the interest and keep paying the loan whenever they can. More so, in the co-operative banks.
This pressure on parents is understandable. I have counseled at least a few parents who now feel the pinch, where the wife is not employed and the children are in the senior classes. The online classes have imposed a fresh cost -- the cost of internet services on parents. Yet, the only option is to find some avenue where the ladies can make some money. One such option is to go in for food-related items. With summer on and no big signs of the rains coming, many families have started manufacturing papads at home and selling them to the slightly richer families.
Such options of making some extra money to tide over the present crash crunch is an urgent imperative. Parents should not give up any investment in the educational needs of children, pan-India.