Sharp fall in the number of Middle Class in India


A recent report Pew Research Center has revealed that the novel coronavirus pandemic last year pushed approximately 3.2 crore Indians out of the middle class. The report showed that the number of Indians in the middle class – those who earn between Rs 724 to Rs 1,449 per day – shrunk by roughly 3.2 crores. Almost a year into the pandemic, the strength of India’s middle class has shrunk to 6.6 crores, down a third from a pre-pandemic estimate of 9.9 crores, added the report. Citing the World Bank’s forecasts of economic growth, the Pew Research Center said, “India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the Covid-19 downturn.” A dip in the number of Middle class indicates progressive pauperization of the segment and slip into proletariat, semi-proletariat categories. (India Today 19-03-21)

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