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As a second coronavirus wave grips India, consider these numbers:
75,000,000
That's the number of souls added to India's poor in 2020.
32,000,000
That's the number of folks who fell out of the middle class in 2020.
DISEASE, DEATHS, AND DESTITUTION
The number of poor in India is projected to have reached 134,000,000 on 2020 because of the economic hardship wrought by coronavirus. That is almost the size of the entire population of Russia.
Worryingly, that number is also more than double the 59,000,000 expected prior to the recession.
THE MISSING MIDDLE
Before the pandemic, it was anticipated that 99,000,000 people in India would belong in the global middle class in 2020. A year into the pandemic, this number is estimated to be have been 66,000,000, cut by a third.
LOW PROFILE
Most people in India are in the global low-income tier. Some 1.2 billion were expected to be in this tier in 2020 prior to the pandemic. This number is projected to have dropped to 1.16 billion as the COVID-19 downturn pushed more people into poverty.
GAINED AND LOST
From 2011 to 2019, the number of poor in India is estimated to have decreased from 340,000,000 to 78,000,000. The projected rise in poverty in 2020 when comparing pre-pandemic and revised figures – 75,000,000 – claws back several years of progress on this front for India. The retreat of India’s middle class in 2020 – by 32,000,000 – also looms large in the context of the addition of 57,000,000 to this income tier from 2011 to 2019.
For a detailed analysis:
https://www.pewresearch.org/fact-tank/2021/03/18/in-the-pandemic-indias-middle-class-shrinks-and-poverty-spreads-while-china-sees-smaller-changes/