Over one-third of Indian households may run out of resources in another week: CMIE Survey

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Over one-third of Indian households may run out of resources in another week: CMIE Survey

 

  • The third phase of lockdown in the country is going to end on May 17, but can start again with a new color from 18
  • If the low income group does not help soon, there will be an increase in other problems caused by malnutrition and poverty.

To prevent coronavirus infection, the lockdown, which was started by the government on March 25, will continue in the fourth phase after three phases. Prime Minister Narendra Modi announced this on Tuesday. Meanwhile, a survey by the Center for Monitoring Indian Economy (CMIE) said that if the lockdown extended a week further, more than one-third of Indian families would have exhausted the resources needed to live. The third phase of the lockdown is set to end on May 17.

Monthly income drop in more than 84% households

The Center for Monitoring Indian Economy has conducted a study based on household income from lockdowns caused by coronaviruses. It said that the monthly income of more than 84 percent of India’s households has been recorded. At present 25% of the working population in the country has become unemployed.

34% of households in the country are in a bad state

In this regard, CMIE Chief Economist Kaushik Krishnan said, “If we talk about the whole country, the condition of 34 per cent of the houses has deteriorated. They have the necessary resources to live life for a week. After a week they will have nothing left. ”He also said that people of low income groups in the society need to be helped immediately. For this, people of such class need to transfer cash quickly. If the government does not help soon, then other problems caused by malnutrition and poverty can also increase rapidly.

2.70 crore youths lost jobs

According to a study by CMIE, unemployment figures in the country have also increased rapidly. The unemployment rate in India was 7.4 percent on 21 March, which has increased to 25.5 percent on 5 May. According to the study, 2 crore 70 lakh youth in the age group of 20 to 30 years have lost their jobs in April.

States like Bihar, Haryana, Jharkhand are concerned

Income of most of the households in the country has come down due to increasing unemployment. If we talk about urban and rural areas of India, 65% of the households in urban areas have the resources to live for more than 1 week, while in rural houses 54% people said that they have more than 1 week to live Resources are left. In states like Delhi, Punjab and Karnataka, the impact of lockdown has come down, while in states like Bihar, Haryana and Jharkhand, loans have significantly affected the income of the people.

The study has been authored by Kaushik Krishnan, chief economist at the Center for Monitoring Indian Economy, Professor Marianne Bertrand of the Booth School of Business at the University of Chicago, and Heather Schofield, assistant professor at the Wharton School at the University of Pennsylvania.

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