Financial distress triggered by COVID-19 pandemic pushed 32 million Indians out of the middle class to poverty |

[bhaigan]

2020 reduced the number of those in the middle class to 66 million, down a third from 99 million

A report published on Thursday revealed that financial distress coupled with the coronavirus crisis has pushed around 32 million Indians out of the middle class. This has taken years of economic gains.

The report stated that the number of Indians belonging to the middle-class strata, those who earn between $10 and $20 a day, shrunk by around 32 million, according to a study carried out by the US-based Pew Research Centre.

The report said that the pandemic year 2020 reduced the number of those in the middle class to 66 million, down a third from a pre-pandemic estimate of 99 million.

“India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the Covid-19 downturn,” the Pew Research Centre said, citing the World Bank's forecasts of economic growth.

The report further added that almost 57 million people had joined the middle-income group between 2011 and 2019.

The study is followed by the forecast by the World Bank that had revised India’s GDP and noted a contraction of 9.6 per cent, owing to the pandemic.

The researchers of the new study estimated that the number of poor people, with incomes of $2 or less each day, has surged by 75 million due to the recession triggered by the virus.

 

[bhaigan]

Ache din aye ga

[bhaigan]

Capitalism will definitely save India !

[jawaani_jaaneman]

7 minutes ago, bhaigan said:

Capitalism will definitely save India !

Intha mandi ni poshinchali ante capitalism ae dikku..

sarkari jeethalu ae kavali...steel plant lo ne udyogam cheyali anukunte, ie 32 million middle class to poverty nundi below poverty ki potaru..

[JackSeal]

13 minutes ago, bhaigan said:

2020 reduced the number of those in the middle class to 66 million, down a third from 99 million

A report published on Thursday revealed that financial distress coupled with the coronavirus crisis has pushed around 32 million Indians out of the middle class. This has taken years of economic gains.

 

 

The report stated that the number of Indians belonging to the middle-class strata, those who earn between $10 and $20 a day, shrunk by around 32 million, according to a study carried out by the US-based Pew Research Centre.

 

 

The report said that the pandemic year 2020 reduced the number of those in the middle class to 66 million, down a third from a pre-pandemic estimate of 99 million.

“India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the Covid-19 downturn,” the Pew Research Centre said, citing the World Bank's forecasts of economic growth.

The report further added that almost 57 million people had joined the middle-income group between 2011 and 2019.

The study is followed by the forecast by the World Bank that had revised India’s GDP and noted a contraction of 9.6 per cent, owing to the pandemic.

The researchers of the new study estimated that the number of poor people, with incomes of $2 or less each day, has surged by 75 million due to the recession triggered by the virus.

 

This is some paid article by some commies, have you seen adani and ambani growth ? both of them reflect whole Indians growth

[futureofandhra]

1 hour ago, bhaigan said:

2020 reduced the number of those in the middle class to 66 million, down a third from 99 million

A report published on Thursday revealed that financial distress coupled with the coronavirus crisis has pushed around 32 million Indians out of the middle class. This has taken years of economic gains.

 

 

 

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The report stated that the number of Indians belonging to the middle-class strata, those who earn between $10 and $20 a day, shrunk by around 32 million, according to a study carried out by the US-based Pew Research Centre.

 

 

The report said that the pandemic year 2020 reduced the number of those in the middle class to 66 million, down a third from a pre-pandemic estimate of 99 million.

“India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the Covid-19 downturn,” the Pew Research Centre said, citing the World Bank's forecasts of economic growth.

The report further added that almost 57 million people had joined the middle-income group between 2011 and 2019.

The study is followed by the forecast by the World Bank that had revised India’s GDP and noted a contraction of 9.6 per cent, owing to the pandemic.

The researchers of the new study estimated that the number of poor people, with incomes of $2 or less each day, has surged by 75 million due to the recession triggered by the virus.

 

public need welfare now covid hitted many families badly