A recent study has revealed that over 84% of Indian households saw their incomes fall last month due to the lockdown rules. And sadly, stats state that most won’t survive very long without a sustainable income.
The study also added that the rural households have been hit the hardest. 88 percent of rural households report a fall in income under the lockdown, compared to 75 percent of urban households.
The Chicago Booth’s Rustandy Center for Social Sector Innovation analysed data from the Center for Monitoring Indian Economy Pvt. from surveys collected across 5,800 homes from 27 Indian states. This data was collected in April, during the initial stages of the lockdown.
Rather, income per-capita before the lockdown, lockdown severity, and the effectiveness of the delivery of aid are likely contributors.
CMIE and others studies have also shown that more than 100 million Indians have lost their jobs since March 25, when the production and supply of anything apart from essential goods was curbed in India.