A new report published by the World Bank says that the coronavirus has led to high levels of extreme poverty worldwide, and that India has borne the brunt of the huge number of people pushed into poverty because of it.
Nearly 71 million people worldwide have been pushed into extreme poverty by the pandemic, according to the latest World Bank report, Poverty and Shared Prosperity 2022: A Course Correction. people (79 percent) fell into extreme poverty in 2020, highlighting the enormous burden of the epidemic in the country.
The report stated that India witnessed a “clear economic downturn” in the same year, explaining that “the Covid-19 epidemic has not only slowed growth, but also reversed the progress made by many countries in recent decades in reducing poverty, because it has become in the lives of many people.” And this has led to an almost complete shutdown of the industry and the disruption of global economic activity.”
“The pandemic has hit low- and middle-income countries and driven the global extreme poverty rate up from 8.4% in 2019 to 9.3% in 2020,” he said.
Source: The Independent