Skip to main content

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

By
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
Labels:

Comments

Post a Comment

Popular posts from this blog

Salaries Of 12700 Punjab Teachers Tripled After Regularisation

By
Punjab government has tripled the salaries of 12,700 teachers, who were regularised recently. Chandigarh: Punjab Chief Minister Bhagwant Mann on Tuesday said the salaries of 12,700 teachers, who were regularised recently, have been increased by up to three times. In a statement here, Mr Mann said these teachers will be known as associate teachers and special inclusive teachers, adding that they will be governed by a 'Policy for Welfare of Adhoc, Contractual, Temporary Teachers (Nation Builders) and other employees in the School Education Department'. Based on their educational qualifications and primary conditions for entry into services, their emoluments have been fixed up to the completion of 58 years in service. Mr Mann said these teachers will be entitled to an increment of 5 per cent on their salaries every year. The chief minister said BA pass education providers (associate teachers) who were hitherto getting Rs 9,500 per month will now get Rs 20,500 as an emolum...
Post a Comment
Read more

Russian Mercenary Arm Wagner Groups Says Moscow Army Attacked Its Forces

By
Russian mercenary group Wagner said that Moscow attacked on its rear camps. Moscow: The chief of Russian mercenary group Wagner on Friday accused Moscow's military leadership of ordering strikes on their camps and killing a "huge" number of forces. "We were ready to make concessions to the defence ministry, surrender our weapons," Yevgeny Prigozhin said in a furious audio message released by his spokespeople. "Today, seeing that we have not been broken, they conducted missile strikes at our rear camps." (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) Adblock test (Why?) from NDTV News- Special https://ift.tt/J4lDwvL https://ift.tt/w7JfFhE via IFTTT
Post a Comment
Read more

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

By
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 ...
Post a Comment
Read more