India has been hit particularly hard by the coronavirus, and its number of people living in poverty is estimated to have risen by at 75 million last year, according to new findings. Photo: Reuters
India has been hit particularly hard by the coronavirus, and its number of people living in poverty is estimated to have risen by at 75 million last year, according to new findings. Photo: Reuters

Coronavirus eroded China’s middle class, but India has fared much worse, new findings reveal

  • Pandemic has forced about 32 million people out of India’s middle class, accounting for 60 per cent of everyone who retreated from the middle class globally
  • Most of world’s middle-class drop-off took place in Asia, while middle-class populations in developed economies rose as higher-income groups lost wealth

India has been hit particularly hard by the coronavirus, and its number of people living in poverty is estimated to have risen by at 75 million last year, according to new findings. Photo: Reuters
India has been hit particularly hard by the coronavirus, and its number of people living in poverty is estimated to have risen by at 75 million last year, according to new findings. Photo: Reuters
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