About 84% of Indian households saw their incomes drop last month under the strictest home shelter standards in the world, and many won't survive much longer without help, according to a study. More than 80% of Homes in India lost Income in lockdown, says Study. Data from the Rustandy Center for Social Sector Innovation in Chicago Booth analyzed data from the India Economic Monitoring Center Pvt., Collected through surveys covering around 5,800 households in 27 Indian states in April. The researchers found that rural areas were the most affected and that the spread of the coronavirus had little to do with economic misery.
'Rather, prior to lockdown per capita income, lockdown severity, and the effectiveness of aid delivery are likely contributors,' he wrote. The findings are in line with previous data from CMIE and others, which showed that more than 100 million Indians have lost their jobs since March 25, when Prime Minister Narendra Modi stopped the production and sale of all goods and services. less essential. contain the spread of the virus. On Thursday, his government offered cheap loans and free food to farmers and workers in India.
Both Hindus and Muslims, the two largest religious groups in the nation of 1.3 billion people, were equally affected by the lockdown, and the most affected states were Tripura, Chhattisgarh, Bihar, Jharkhand, and Haryana. The authors of the study are Marianne Bertrand, professor of economics at the Booth School of Business at the University of Chicago, Kaushik Krishnan, chief economist at CMIE, and Heather Schofield, assistant professor at Perelman School of Medicine and Wharton School.
Most worryingly, they found that 34% of all households reported being able to survive for no more than a week without additional assistance. People with higher incomes experienced the smallest declines probably because they have 'stable, salaried jobs, with the ability to work from home and continue to earn a living,' according to the report. Smaller earners may have occupations that continued despite the blockade, such as agriculture or food vendors, the authors said.
The remaining households appear to be exposed to substantial job losses that have not been cushioned by additional transfers' they added.
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