Corona impoverishes 23 crore Indians a year, poverty rate rises by 20% in urban areas

Covid 19 has broken the financial backbone of the country. Many people have lost their livelihoods. Many left their jobs and returned from abroad. About 23 crore Indians have become impoverished within a year of the start of the Covid infection. During this time, the urban poverty rate has risen by 20%, while in rural areas it has increased by 15%. This is according to a report prepared by Azim Premji University.

According to the report, Lockdown is being imposed to combat Covid-19. This has led to a decline in people’s incomes as traffic has been affected. Above all, economic activity has been curtailed. Revenues have been reduced by 7.5% due to a 10% reduction in traffic.

According to the Labor Market Report, by the end of 2020, about 1.5 crore workers have lost their livelihoods. Family income has also been largely affected. In October 2020, the average per capita monthly household income fell to Rs 6,6, compared to Rs 5,6 in January of that year.