Минпромторг опроверг риск дефицита товаров из-за платы за утилизацию 1prime.ru - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1prime.ru Daily Mail and Mail on Sunday newspapers.
The pandemic in data: How Covid-19 has devastated India’s economy
The sharp drop in GDP is the largest in the country’s history – and even that may well underestimate the economic damage experienced by the poorest households. 15 hours ago The children of migrant workers at a bus stop in Ghaziabad on April 20 as the Delhi government ordered a lockdown to prevent the spread of Covid-19. | Adnan Abidi/Reuters
From April to June 2020, India’s GDP dropped by a massive 24.4%. According to the latest national income estimates, in the second quarter of the 2020-’21 financial year (July-September 2020), the economy contracted by a further 7.4%, with the third and fourth quarters (October 2020-March 2021) seeing only a weak recovery, with GDP rising 0.5% and 1.6%, respectively. This means that overall rate of contraction in India was (in real terms, adjusted for inflation) 7.3% for the whole 2020-’21 financial year.
989 Covid effect: The proportion of the poor rose from 22% in 2019 to 39% in 2020. Even the cream of India’s employees does not feel secure in their jobs. PTI
Aunindyo Chakravarty
Senior Economic Analyst
We have enough evidence to show that the Covid pandemic has left most Indians poorer. Even the recovery that we saw in October last year barely managed to put an average Indian family on a par with where it was two years ago. CMIE’s latest data shows that even in January, when many believed India had defeated the coronavirus, the average household income was below the lowest point of 2019. Pew Research estimates that the number of poor people in India more than doubled last year.
Did workfare offset jobs losses in India?
It is probably not an understatement to say that the policy response to COVID-19 in terms of social protection programs has been staggering. Colleagues have impressively been tracking this through the global monitoring platform. New programs are being created and existing programs are being expanded, and we continue to learn about how and for whom these programs can be effective to offset the negative impact of crisis. In their paper studying the world’s largest employment guarantee scheme in India, Afridi, Mahajan, and Sangwan examine the extent to which an existing workfare program cushioned the impact of the crisis. This program, the Mahatma Gandhi National Rural Employment Guarantee Act (MG-NREGA) program, mandates the offer of 100 days of manual work on public rural infrastructure projects (such as irrigation canals and roads). It also mandates a reservation of 1/3rd of jobs in each MG-NREGA project for women. In 2018, 76 million peop