This is why I can’t afford my rent
Developers are getting more and more frustrated by the inability of many of the country’s largest companies to meet their financial obligations to their employees.
In fact, a report released by McKinsey Global Institute found that almost one-third of global employers in 2018 are currently running into debt.
In India, one of the most indebted countries in the world, developers are often left in the lurch.
According to a report by McKinley, an Indian business publication, about 90 percent of developers have borrowed between Rs. 1,000 and Rs. 5,000 ($2,800-$5,600) for a project.
“The developers that are running out of money need to get help from their stakeholders and investors, because the funding is not there to help them out,” said Amit Gupta, founder of the non-profit Centre for Business and Industry.
“In the long run, the financial situation will be bad for them.”
In India’s vast rural areas, the cost of building and maintaining infrastructure is high, which can lead to a delay in development and lower productivity.
A McKinsey report, based on a survey of more than 100 rural developers, found that nearly half of them have faced problems in funding a project, due to a lack of funding or other issues.
For some, the problem stems from a lack.
“I have not been able to meet my contractual obligations to the government.
I am still not receiving funds for my projects.
This is not my fault,” said R.K. Jain, an industrial engineer who lives in the state of Andhra Pradesh.
“What we need to do is to build a community in which all the stakeholders, investors, the government and the workers are connected, to solve this problem.
That is our challenge.”
A few years ago, Jain began building a small manufacturing business in his hometown of Kutch.
Today, he earns about Rs. 30,000 per month and his business, Kutch Automation, sells a wide range of products, including automotive components, electrical and electronic components, textiles, and construction equipment.
But his company has faced some financial difficulties.
“There is not enough cash for payments on loans.
If we do not get the necessary funds, we will be unable to build out our business,” said Jain.
“My business is about to lose its direction.”
The government has not been receptive to the problem.
While the government’s investment in rural infrastructure is seen as a way to create jobs and boost economic growth, some experts have said that it has the potential to be an obstacle to the growth of a startup in the country.
The lack of money and a lack-of-confidence among stakeholders have led to a slow pace of development in rural areas.
In many cases, local government agencies are not equipped to deal with the massive projects that need to be funded.
“We have to provide infrastructure for the development of rural areas to be able to handle these projects,” said K.R. Dhananjaya, managing director of the Kutch-based Centre for Development Initiatives.
“This is the reason why the government has been slow in setting up funding mechanisms for the rural development sector.”
While the country has been slowly moving towards a digital economy, there is still a large gap between the average wage paid to a typical worker in the city and the average rural wage in the rural areas where the development work takes place.
According the latest World Bank report, rural India’s average wages fell from nearly $2,300 per month in 2010 to $2.55 per month today.
Even though this gap has been narrowing, many rural developers have found it difficult to secure funding for their projects.
Many developers also say that the lack of funds for their business has led to delays in the development process.
“Development is not the right time to get funding,” said Manish Kumar, who runs an IT company in the village of Bhakki.
“When I was doing my project, I was able to build the infrastructure and get the contract awarded.
But now, there are delays and no money.
This has made me question my business and work.”
Kumar has built several small companies in the past, but these have been mostly for small, medium and large projects.
He has not received any funding from the government to launch a new company since 2012, and now he can only borrow money from his company’s bank account.
“Every time I try to set up a new business, the banks tell me, ‘We are not willing to lend you any more money.
You can only do small projects.’
This has led me to think, Why do I need to work for the government?
This is a serious problem.”