400 million workers in India may sink into poverty

400 million workers in India may sink into poverty

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The International Labour Organization (ILO) in its report titled ‘ILO Monitor 2nd edition: COVID-19 and the world of work’, describes coronavirus pandemic as “the worst global crisis since World War II”.In India, Nigeria and Brazil, the number of workers in the informal economy affected by the lockdown and other containment measures is substantial," ILO said.In India, with a share of almost 90 per cent of people working in the informal economy, about 400 million workers in the informal economy are at risk of falling deeper into poverty during the crisis.

https://www.moneycontrol.com/news/india/about-4...
https://www.livemint.com/news/india/40-crore-in...

Goldman Sachs says India’s FY21 GDP may plummet to a multi-decade low of 1.6%, the bleakest forecast so far

https://www.moneycontrol.com/news/business/econ...

4 Comments  |  
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Biggest financial crisis since what, World War II? Lmao. Well that’s a great joke there. Biggest financial crisis started back when Demonetisation took place, and they didn’t stop there, they needed they cherry on the top, and we have GST.

So ask them to stop cracking jokes. The pandemic might set us back a couple of years, maybe 3. We were already having an economical crisis is the main point. Now they will try to turn the table on this corona situation and come out of it as a winner.

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Is it good time take our money from banks

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aftabz wrote:

Is it good time take our money from banks

Removing is a wonderful idea but now ever one is using credit card which we need to pay and we will need to do online transaction. Whah re digital India

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Indian poor knows how to survive with very little money. they will also get food from govt via ration shops. Its the salaried middle class, addicted to credit cards and EMIs, and debarred from the govt support, who are going to suffer.

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