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While we are finally taking Corona seriously as a medical crisis - there is a deep wound that #COVID19 it is causing to the Middle Class - for the first time since 1990 the middle class has SHRUNK globally and India's poor have doubled! - this as the rich become richer and the poor become poorer.... :(
With the Govt doing little on this front - it will be citizens who will have to buckle up for this bumpy ride....for the poor the recovery will be long and hard.
This episode is based on shocking data analysis by Oxfam and Pew Research.
Read Vivek Kaul's in-depth article on the same -
https://vivekkaul.com/2021/04/15/matthew-effect-of-covid-pandemic-rich-got-richer-and-poor-got-poorer/
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Corona : A financial Crisis
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https://theprint.in/economy/despite-covid-india-adds-38-billionaires-in-2021-ambani-adani-retain-top-2-spots/636531/
https://www.aljazeera.com/economy/2021/1/25/covid-19-worsened-global-inequality-even-as-the-rich-bounced-back
https://www.business-standard.com/article/current-affairs/indian-billionaires-saw-there-wealth-go-up-by-12-97-trillon-during-covid-19-121012500423_1.html
https://www.bbc.com/news/world-asia-56659615?fbclid=IwAR0W-Rt8EHtoJpBKFxILXZAdoMxoDTQevpqk_OghrHi8Eqkdl3qcfAC9j14
https://theprint.in/india/covid-shrunk-indias-middle-class-by-32-million-pushed-75-million-into-poverty-in-2020-pew/624544/
https://www.livemint.com/news/india/indias-middle-class-may-have-shrunk-by-32-mn-in-2020-due-to-recession-report-11616077697955.html
https://www.pewresearch.org/fact-tank/2021/03/18/in-the-pandemic-indias-middle-class-shrinks-and-poverty-spreads-while-china-sees-smaller-changes/
https://www.indiatoday.in/business/story/your-salaries-remain-stagnant-but-companies-are-making-a-fortune-amid-pandemic-1748674-2020-12-11