Tuesday, Aug 04, 2020 | Last Update : 02:34 AM IST

133rd Day Of Lockdown

Maharashtra45019628703015842 Tamil Nadu2632222022834241 Andhra Pradesh166586886781537 Karnataka139571625002594 Delhi1384821242544021 Uttar Pradesh97362553931778 West Bengal78232548181731 Telangana6766048609551 Gujarat64684476632504 Bihar5956738508336 Rajasthan4555532051719 Assam4527633429109 Haryana3717330470440 Odisha3629723074248 Madhya Pradesh3428524099900 Kerala268731527885 Jammu and Kashmir2200614032407 Punjab1852711882442 Jharkhand135004794125 Chhatisgarh9820725661 Uttarakhand7800453890 Goa6816487656 Tripura5389360527 Puducherry3982241156 Manipur292017667 Himachal Pradesh2818165813 Nagaland21296574 Arunachal Pradesh175810633 Chandigarh116070619 Meghalaya9022645 Sikkim6882971 Mizoram4962660
  Business   In Other News  12 Jun 2020  Economic fallout from COVID-19 could push more than billion into ‘extreme poverty’

Economic fallout from COVID-19 could push more than billion into ‘extreme poverty’

REUTERS
Published : Jun 12, 2020, 12:03 pm IST
Updated : Jun 12, 2020, 12:03 pm IST

The outlook for the world’s poorest looks grim unless governments do more and do it quickly, says a UNU report

 An Indian ragpicker collects reusable material from a garbage dump. Coronavirus pandemic could plunge an extra 395 million people into extreme poverty. (AP Photo)
  An Indian ragpicker collects reusable material from a garbage dump. Coronavirus pandemic could plunge an extra 395 million people into extreme poverty. (AP Photo)

London: The economic fallout from the coronavirus pandemic could plunge an extra 395 million people into extreme poverty and swell the total number of those living on less than $1.90 a day worldwide to more than 1 billion, researchers said in a report on Friday.

The report - published by UNU-WIDER, part of the United Nations University - played through a number of scenarios, taking into account the World Bank’s various poverty lines - from extreme poverty, defined as living on $1.90 a day or less, to higher poverty lines of living on less than $5.50 a day.

 

Under the worst scenario - a 20% contraction in per capita income or consumption - the number of those living in extreme poverty could rise to 1.12 billion. The same contraction applied to the $5.50 threshold among upper-middle income countries could see more than 3.7 billion people - or just over half the world’s population - live below this poverty line.

“The outlook for the world’s poorest looks grim unless governments do more and do it quickly and make up the daily loss of income the poor face,” said Andy Sumner, one of the report’s authors.

“The result is progress on poverty reduction could be set back 20-30 years and making the UN goal of ending poverty look like a pipe dream.”

 

The researchers from King’s College London and Australian National University also found that poverty would shift in its geographic distribution.

The region expected to see the biggest number of people at risk of plunging into extreme poverty was South Asia, mainly driven by populous India. This was followed by Sub-Saharan Africa where around a third of the rise would come from.

On Monday, the World Bank said it expected 70-100 million people to be pushed into extreme poverty by the pandemic.

Tags: economic fallout, coronavirus pandemic, poverty, coronavirus impact, world bank
Location: United Kingdom, England, London