Due to lockdown, job or income is gone, then these 4 tips will work for you

.Business

Due to Corona, a large number of people are losing their jobs or there are many people whose income has either decreased or is on the verge of ending. There are many people whose salaries have been cut. If you are also facing such situation, then know what you will have to do to manage your finance.

Budget again

If you are also worried about losing your job or salary cut, then first consider your budget and prepare it again. You should know that your old budget can no longer work under these new circumstances. You should change your lifestyle again. The focus has to be on creating cash reserves. Spend very thoughtfully Make a list of all expenses and spend on them according to your income.

Do not close health and life insurance

Under no circumstances should your health be compromised, so do not cut life insurance and health insurance. It is important that in the midst of any epidemic, the value of your health and life is the highest. Keep paying your premium on time. To reduce your cash, you can opt for monthly payment of premium. Always do your own maintenance.

Borrow carefully

You can get into debt trap if you miss a job. If you do not have an emergency fund and have missed your job, you will have to borrow to meet your day-to-day expenses. Avoid borrowing more than you need. You should avoid high interest debt. Instead of taking more than one loan, borrow single loans that borrow.

If you have investments such as traditional insurance policies or PPF holdings, you can take a loan by mortgaging these investments. LAS has lower interest rates than unsecured loans such as personal loans and credit card loans.

Do not invest temporarily

After leaving the job you can temporarily stop investing to avoid cash shortage. This will help you to keep more money on hand to meet the expenses of the day. Once you get a job, you can resume your investment. Avoid using your credit card when you are not sure of a regular income.

It is easy to start this business amid lockdown, you can earn millions sitting at home

To increase the income of farmers, the government is promoting beekeeping and the government has made a provision of 500 crore rupees to further promote beekeeping under the self-sufficient India campaign.

new Delhi.

   

India has joined the five largest honey production countries in the world. Honey production in the country has increased by 242 percent compared to 2005-06. Union Agriculture and Agriculture Welfare, Rural Development and Panchayati Raj Minister Narendra Singh Tomar said, to increase the income of farmers, the government is promoting beekeeping and under the self-reliant India campaign by the government to promote beekeeping of Rs 500 crore. 

Provision is made. Due to the hard work of beekeepers in the country, India has been named among the five largest producers of honey in the world. If you are thinking of starting your business then this can be a better opportunity for you. 

You can have a honey house and a honey processing plant.

The Agriculture Minister said that compared to the year 2005-06, now honey production has increased by 242 percent, while its exports have increased by 265 percent. He said that beekeeping can prove very helpful in doubling the income of farmers. Four modules have been developed for training beekeeping, through which 30 lakh farmers have been trained in the country.

Government helps

If you want to set up a honey processing plant, then Khadi Gramodyog Udyog (KVIC) will help you. You will get 65 percent loan from KVIC and you will also get 25 percent subsidy. That is, you only have to spend 10 percent of the project money.

According to KVIC, if you set up a plant to produce 20 thousand kilograms of honey annually, then it will cost about 24.50 lakh rupees. On this, you will get a loan of about 16 lakh rupees, while you will get 6.15 lakh rupees in the form of margin money and you will have to invest only 2.35 lakh rupees on your behalf.

How much will you earn?

If you produce 20 thousand kg of honey annually, the cost of which is 250 rupees per kg. If 4 percent working loss is included in this, then sales will be Rs 48 lakhs annually. Out of this, all expenses which are reduced to about Rs.34.15 lakhs, then you will earn about Rs.13.85 lakhs in a year. That is, you can earn more than one lakh rupees every month.