Covid has pushed 23 crore Indians into poverty

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  Covid has pushed 23 crore Indians into poverty

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  • The story: The one year of Covid-19 pandemic has pushed 230 million Indians into poverty with a 15% increase in poverty rate in rural India and 20% surge in poverty rate in urban India. This was revealed in a report by the Azim Premji University. 
  • What happened: The report mentioned that mobility restrictions have led to income losses due to decreased economic activity. A 10% decline in mobility was associated with a 7.5% decline in income. The report is titled "State of Working India 2021: One Year of Covid-19". It warned that this could get worse if more lockdowns are imposed in future.
    1. Labour market - the report said about 15 million workers continued to be out of job by end of 2020 compared to pre pandemic levels while household incomes remain depressed. Average monthly household income per capita in October 2020 was Rs 4,979 which was below its level in January 2020 at Rs 5,989.
    2. Job losses - These were higher for states with a higher average covid case load. Maharashtra, Kerala, Tamil Nadu, Uttar Pradesh, and Delhi, contributed disproportionately to job losses.
    3. Informaity - The pandemic has further increased informality and led to a severe decline in earnings for the majority of workers. Women and younger workers have been disproportionately affected while households have coped by reducing food intake, borrowing, and selling assets.
    4. Relief measures - The report said the government relief has helped avoid the most severe forms of distress, but the reach of support measures is incomplete, leaving out some of the most vulnerable workers and households.
  • System breaking down: The report said that the pandemic revealed a systemic and moral failure that makes the most vulnerable always pay the greatest price for everything. Additional government support is urgently needed to compensate for the losses sustained during the first year and anticipating the impact of the second wave. This can include continuing free rations beyond June, additional cash transfers, an expanded MGNREGA, and an urban jobs programme.
  • Summary: The report has estimated that such measures, taken together, will amount to approximately Rs 5.5 lakh crores of additional spending and bring the total fiscal outlay on Covid relief to around 4.5% of GDP over two years. The large fiscal stimulus is justified given the magnitude of the crisis.
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PT's IAS Academy: Covid has pushed 23 crore Indians into poverty
Covid has pushed 23 crore Indians into poverty
Excellent study material for all civil services aspirants - begin learning - Kar ke dikhayenge!
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