There is a disaster, but to convert this disaster into an opportunity – a lesson was given in the coronary period. The extent to which disaster could be turned into an opportunity should now be asked. The reason for asking is not only that the beginning of Coronabandi has now been completed throughout the year but also because amidst the new wave of Corona, there is a fear among people that the lockdown will not have to be faced again.
Asking the extent to which Corona’s emergency clock could be turned into an opportunity would reveal what lessons this country had learned for itself in the grip of the epidemic, how much it was dealing with the loss of Covid-19 in the economy, and Also how fast our economy can come on the path of recovery.
Sadly, the facts giving evidence to turn disaster into opportunity are few, almost non-existent. And, alas, regret that the evidence that has come out to be believed, presents a very opposite picture of the resolve to turn disaster into opportunity! For example, the Pew Research Center of America came out with a report a week ago!
Coronation: Middle class and growing poor in India
Pew Research Center describes itself as an unbiased fact tank. And, our work tells you to warn the people of the issues, trends and trends between which the world becomes new every day.
This research center offers a variety of assessments, including opinion polls, demographics-related assessments on a given issue, and fact-based analysis related to sociology.
The Research Center last week presented an assessment of the change in the standard of living among the Covid-19 epidemic in countries of the world. According to the report, due to coronation in India, the number of middle class people has decreased by one third while the number of poor has increased two times.
The report puts those in the middle class with income between Rs 700-1500 a day and it is estimated that 3.2 in India due to the closure of businesses, job losses and declining incomes during coronation. Crores of people did not live within the purview of middle-class living standards.
The loss of such a large number of middle class in terms of income and expenditure means that 60 percent of the people worldwide lost their middle class income due to coronation.
There is an increasing trend in the number of poor people globally due to coronation but on this front too, India’s position will be said to be astonishing. According to the report, the number of poor in Coronabandi in India increased by 7.5 crores. if
If the number of poor (6 crores) present before coronation is added to the number of poor after coronation, then the number increases to 13.4 crores. This is also 60 percent of the total increase in the number of poor globally. Keep in mind, the report considers poor people whose income is less than $ 2 per day.
In which class how many people
According to the report, immediately before the epidemic, 9.90 million people in India were on a level of consumption to keep them at par with the standard of living of the global middle class. But in the post-coronation period, the number of such people has come down to 6.60 crores, which means there has been a decrease of one third of the total.
In contrast, the number of poor has increased. In the pre-Coronabandi period, 5.90 crore people in India were in the poor category, but in the post-coronation period, the number of such people has increased to 13.4 crores. This is an increase of more than double.
India’s poverty rate in the year 2020 was 9.7 percent, which is more than double the estimate (4.3 percent) in January 2020. The report mentions the huge increase in the number of people seeking employment under MGNREGA in 2020 as a symptom of this.
India has the largest number of people from the lower income group (spending $ 2.01 to $ 10 per day). According to the report, in the pre-coronation period, India had 1.20 billion people belonging to the lower income group, which is 30 percent of the global population of this category.
In India, the number of people from lower income groups decreased to 1.16 billion in the post-coronation period. In comparison, the number of upper middle-income and high-income people decreased.
According to the report, after coronation in India, the number of people in the upper middle income group is estimated to decrease from 22 million to 16 million. Similarly, the number of people in the high income group has come down from 30 lakhs to 20 lakhs.
How much income from which class
To make things more clear, we have to keep in mind that in the report, the population of different countries of the world is divided into a total of five categories Poor, Low Income, Middle Income, Upper Middle Income and High Income. They are placed in the category of the poor who live on less than $ 2 a day.
Similarly, those who spend from $ 2.01 to $ 10 a day are those of lower income, those who spend from 10.01 to $ 20 per day are middle class, those who spend 20.01 to $ 50 are those who have higher income and $ 50 for daily income. Those who spend more than Rs are considered to be of high income.
The value of the dollar has been estimated at 2011 prices and in terms of the ability to purchase services and goods, the report is designed to match the exchange rate of each country’s currency.
To decide which group will be placed in which income group, the expenditure or income per day and per capita income from each household has been made the basis.
Spending and income have been equated to facilitate estimation and conclusions have been drawn not on the basis of a survey but on the basis of mutual comparison of data in World Bank’s updated database on income and expenditure.
The data pertaining to each income group in this World Bank database is from 2011 (no new government-based survey reports related to income and consumption have been reported since 2011). Taking cognizance of what the World Bank estimated in January 2020 about the economic growth in a country and what it said about the economic growth in January of 2021 – 2020 The fluctuations in the year have been calculated.
Lessons from the report
One, we had low expectations from our preparations at the time of the relaxation of the rigor of coronation. Remember the time immediately before the presentation of the budget of this time!
In the news that was coming from the economic front at that time, the emphasis was on telling and reading the signs that what were the economic conditions like in the time before lockdown, when will we reach that situation next, when the economy slows down immediately before the coronation There were trends, ie in the post-coronation phase, we were hoping to at least reach the pre-coronation slowness period.
But now such uneasiness has almost ended with the news. A leisurely house has been established that if we have recovered from the era of coronation, the economy will soon come back to normal.
The only indication of this leisureness is that the debate in India about the effect of Coronambadi has now slowed down, otherwise it would have been seen that the huge decrease in the number of middle class and the sharp increase in the number of poor has the effect of lack of demand in the market This is going to be reflected in the form of increase in demand, which is the main challenge in the direction of reviving the economy.
(The author is a socio-cultural scholar)
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