Money Shortages in India Affect Millions of Workers
2016-12-28 21:42:27

Workers recently lined up outside a camp in northern India to open bank accounts.(1)

The line formed at a traffic stop in the center of Gurgaon, in Haryana State.(2)

One of the workers was Ishwari Lal, a daily wage laborer. He is like millions of migrant laborers across India.(3)
一个工人是伊什瓦里 Lal,日工资的劳动者。他就像数以百万计的农民工在印度各地。

They work in small factories or businesses, at building projects, or as security guards, drivers and servants.(4)
他们在小工厂或企业,在建设项目,或作为警卫、 司机和公务员工作。

Lal’s wages were always paid in cash and he spent the money carefully.(5)
Lal 的工资总是被以现金支付,他仔细地把钱花掉。

He sent some of it to his family. He used the rest to make rent payments for his one-room home and buy food or supplies.(6)

But Lal has only been paid one-fourth of his wages since severe cash shortages began affecting the country.(7)
但 Lal 只支付他的工资的四分之一现金严重短缺以来影响该国。

Six weeks ago, the Indian government banned high-value bank notes of 500 rupees ($7.50) and 1,000 rupees.(8)
六周前,印度政府禁止高价值纸币 500 卢比 (约合 7.50 美元) 和 1000 卢比。

The move was aimed at finding and seizing large amounts of illegal cash.(9)

Lal’s employer asked him to put his wages in a bank.(10)

He is doing that now, but worries that getting the money back from the bank will be difficult.(11)

Banks see shortage(12)

Since the ban was announced, many Indians have stood in long lines at banks to get money.(13)

And, banks are not giving customers the amount they demand as the banks run out of money faster than it is replaced.(14)

“If I need 10,000 rupees, I get 2,000 rupees. How can I manage in just this much money? I have faced massive problems,” Lal said.(15)
"如果我需要 10000 卢比,我收到 2 000 卢比。我应如何管理在这只是很多钱?拉尔说︰ 我面对大量的问题,"。

He wonders how he can buy food, pay for medicines, or send money home to his children.(16)

Some employers are also facing cash shortages and [are] beginning to give out checks to pay wages.(17)
一些雇主也面临现金短缺,[] 开始给出支票支付工资。

In India, hundreds of informal sector workers are opening bank accounts.(18)

The informal sector is a part of the economy that is not taxed and not regulated by the government.(19)

According to some estimates, nearly 480 million Indian nationals earn cash in the informal sector.(20)
根据一些估计,近 4 亿 8000 万的印度国民赚取现金在非正规经济部门。

That represents 80 percent of the country’s work force.(21)
它表示该国的劳动力的 80%。

As the cash shortages continue, the informal sector is slowing down.(22)

This is affecting economic growth in one of the world’s fastest-growing economies.(23)

Companies have reduced employees as business drops sharply and factories have laid off workers after having to slow down production.(24)

Exodus of migrant workers(25)

Wages are either not being paid on time or are being paid in old bank notes.(26)

This has led some migrant laborers in big cities to return to their villages.(27)

The ones who have stayed in cities are struggling to get paid.(28)

Harsh Singh is a self-employed driver in New Delhi.(29)

Singh says he has not been getting calls from his regular riders since cash shortages began to get worse.(30)

He said his work has decreased by at least 50 percent.(31)
他说他的工作减少了至少 50%。

And his passengers only make part of the payment. “So I have to go back to get my money,” he said.(32)

He is thinking of opening a bank account to accept online payments, even if they sometimes amount to less than $10.(33)
他正在考虑开设一个银行账户,接受网上支付,即使他们有时达不到 10 美元。

Several economists, however, say the currency ban will have good long-term effects.(34)

They say it help improve controls on small businesses and factories.(35)

And it will help bring poor people into the banking industry.(36)

Millions in India have no ties to banks and cannot get financial services, credit or insurance.(37)
数以百万计的印度银行已经没有任何关系,不能获得金融服务、 信贷或保险。

Effect on Economic Growth(38)

While it is too early to know the exact effect of the currency ban on economic growth, economist N.R. Bhanumurthy said informal jobs have suffered.(39)
虽然知道对经济增长的货币禁令的确切影响还为时过早,乃镕详细 Bhanumurthy 的经济学家说遭受了非正式的工作。

He works at the National Institute of Public Finance and Policy.(40)

Bhanumurthy said there is an effect on the employment situation because of the general drop in economic activity.(41)
Bhanumurthy 说︰ 由于普遍下调的经济活动有对就业形势的影响。

People are also spending less, but spending “is the biggest driver of (the) Indian economy,” Bhanumurthy pointed out.(42)
人们还花费较少,但支出"() 印度经济的最大驱动力",Bhanumurthy 指出。

But he expects this to be a short-term drop. He said that when spending returns, India may also see an increase in employment.(43)
但他预计,这短期的下跌。他说︰ 支出的回报,一到印度可能也增加就业。

I’m Alice Bryant.(44)

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