Skip to main content

Pandemic Pushed Over 56 Million Indians Into Poverty In 2020: World Bank

Over 56 Million Indians Pushed Into Poverty Due To COVID-19 In 2020: World Bank Report

India accounts for 79% of total increase in global poverty in 2020: World Bank

As the COVID-19 pandemic hit the world, it upended numerous lives, brought industries to a near-standstill, and disrupted global economic activities.

The latest report by the World Bank has suggested that 71 million people across the globe may have been pushed into extreme poverty due to the pandemic in 2020. And, out of these, nearly 79% of people were from India.

The report titled "Poverty and Shared Prosperity 2022" stated that the pandemic proved to be a major setback to global poverty. It led to a rise in the global extreme poverty rate, which increased from 8.4 per cent in 2019 to 9.3 per cent in 2020.

By the end of 2020, 71 million people plunged into extreme poverty, resulting in a global total of over 700 million impoverished people.

According to World Bank, the most populous countries were the biggest contributor to the increase in global poverty. It stated that India accounted for 56 million of the estimated 71 million increase in the number of poverty-stricken people.

However, it highlighted that China, despite being the most populated country, did not contribute much to the global poverty increase in 2020. The country experienced a "moderate economic shock in 2020".

On the other hand, the report said India witnessed a "pronounced economic contraction" in 2020.

The report used data from the Consumer Pyramids Household Survey (CPHS), conducted by a private data company, the Centre for Monitoring Indian Economy.

The CPHS data was used to measure poverty, as the Indian government has not released official data on poverty since 2011. "Given the country's size and importance for global and regional poverty estimates, the CPHS data help fill an important gap," the report stated.

The report has projected that poverty reduction will be further hindered in 2022 as the war in Ukraine, the growth slowdown in China, and inflating food and energy prices have taken a toll on global growth.

Adblock test (Why?)



from NDTV News- Special https://ift.tt/ObW1CKF https://ift.tt/Po15e0V
via IFTTT

Comments

Popular posts from this blog

North Korea Says It Tested New Strategic Cruise Missile

North Korea test-fired a new generation of strategic cruise missile on Wednesday. (Representational) Seoul: North Korea fired several cruise missiles towards the Yellow Sea on Wednesday, Seoul's military said, the latest in a series of tension-raising moves by the nuclear-armed state. Hours later, North Korea appeared to confirm the firing, saying it had carried out its first test of a new generation of strategic cruise missiles it is developing, the Pulhwasal-3-31. Pyongyang has accelerated weapons testing in the new year, including tests of what it called an "underwater nuclear weapon system" and a solid-fuelled hypersonic ballistic missile. "Our military detected several cruise missiles launched by North Korea towards the Yellow Sea at around 7:00 am today," the South Korean Joint Chiefs of Staff said in a statement. Unlike their ballistic counterparts, the testing of cruise missiles is not banned under current UN sanctions against Pyongyang. Cruise...

18-Year-Old Killed By Friends Over Mobile Game Password In Bengal: Cops

According to cops, accused "friends" attempted to burn the victim after killing him. (Representational) Kolkata: An argument over sharing the password of an online mobile game allegedly led to the murder of a teenage boy by four of his friends in West Bengal's Murshidabad district, a senior police officer said. The body of 18-year-old Papai Das, who had been missing since January 8, was discovered near Nishindra Ghat of the feeder canal in Farakka on Monday, police said. Papai, a class 10 student, was reportedly killed by his four "close" friends after a disagreement over sharing the password for a mobile online game. The accused individuals have been arrested, police added. "These five individuals used to play online games at one of the quarters of the Farakka Barrage. The victim went out on the evening of January 8 and never returned. On January 9, the family lodged a police complaint. "Based on preliminary investigations, we discovered that...

"Jaiswal Has Run Ahead Of Gill": Ex-India Star's Massive T20 WC Verdict

Former India opener Aakash Chopra has suggested that Yashasvi Jaiswal is slightly ahead of Shubman Gill in the pecking order as captain Rohit Sharma's partner at the top in T20Is. Since making his debut last year, Jaiswal has been in stunning form in the shortest format of the game. Gill's form, on the other hand, has dipped since the ODI World Cup last year in India. With the T20 World Cup scheduled to be held later this year, Chopra feels Jaiswal will open the innings with Rohit during the tournament. "It's clear that Yashasvi Jaiswal has run ahead of Shubman Gill. Yashasvi is ahead in the two-horse race, Gill is lagging slightly behind. Gill was played in the first match, dropped in the second, and wasn't played in the third as well," Chopra said on his YouTube channel. Jaiswal helped India beat Afghanistan in the second T20I earlier this week, scoring a quickfire fifty. Considering his recent form across formats, Chopra emphasised that Jaiswal has ...