Centre for Monitoring Indian Economy or CMIE data have claimed has claimed that between March 22 and April 5, the unemployment rate in the urban area has rose up to 22%. They’ve also explained that this lockdown due to coronavirus will wipe out all the gains against poverty.
The data shows that between 2006 to 2016, almost 260 million people came out of the poverty line in India. This lockdown has left the country in shambles since the fate of milions of people is uncertain. Several people have lost their jobs since they were compelled to go back to their village due to this pandemic.
Due to this COVID-19 crisis almost 50 million people have lost their job in just 2-weeks. Also, on Tuesday, the report of International Labor Organization stated that this crisis, in India can push over 40 crore workers into the informal sector.