India’s  middle class shrank by 32 mn in 2020, says Pew report -Asit Ranjan Mishra

Share this article Share this article
published Published on Mar 19, 2021   modified Modified on Mar 19, 2021

-Livemint.com

The shrinking of middle class population could have a medium-term impact on India’s growth trajectory

The coronavirus pandemic may have shrunk India’s middle-class population by 32 million and driven 75 million below the poverty line in 2020, a Pew Research Centre report said, as a severe recession walloped Asia’s third-largest economy.

The report, which is based on an analysis of World Bank data, said that in comparison China fared much better, with the number of people in the middle-income tier decreasing by only 10 million, while the poverty level remained virtually unchanged in 2020.

“Given that India and China also account for more than a third of the global population, with about 1.4 billion people each, the course of the pandemic in these two countries and how each recovers will have a substantial effect on changes in the distribution of income at the global level," the report said.

Please click here to read more.

Kindly click here to access the report by Pew Research Centre.


Livemint.com, 19 March, 2021, https://www.livemint.com/news/india/indias-middle-class-may-have-shrunk-by-32-mn-in-2020-due-to-recession-report-11616077697955.html


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close