The number of poor has increased from 6 crores to 13.4 crores, while a lockdown imposed in India :
The middle class reduced from 9.9 to 6.6 crores
India’s economy shakes with Corona
Revealed in a study of financial institutions in the US and Japan
A lockdown imposed in India in 2020 in the wake of the early corona has left millions without a livelihood. Made millions impoverished. Leading financial institutions in the US and Japan have studied the impact of Corona, the latest booming Second Wave impact on the Indian economy, last year.
A study by the U.S. Center for Pew Research has revealed that poverty in the country could double as a result of last year’s virus outbreak. Most of the population’s incomes have dropped dramatically due to the lockdown. Its impact on industries has been severe. A large number of workers in the industries lost their jobs.
The growth rate of gross domestic product (GDP) has also fallen sharply. The PIO research is based on the World Bank’s economic growth forecasts. Corona has increased the number of poor in the country (those earning less than Rs 150 per day) from 6 crores to 13.4 crores. At the same time, the middle-class population, whose daily income was between Rs 750 and Rs 1,500, declined by 3.2 crores.
Before the advent of Corona, the country had a middle-class population of 9.9 crore, but last year their population dropped to 6.6 crore due to the virus. However, economists at the Nomura Research Institute (NRI) in Japan have warned that the impact of the second wave on the Indian economy could be worse than imagined. Experts predict that the impact on business operations will be severe if the virus is not vaccinated and vaccinated by May.