Washington: The World Bank has issued a warning on Wednesday saying that by the year 2021, about 15 crores will become poor. The cause of this condition has been attributed to Coronavirus. The World Bank says that the country will have to take initiative in the direction of creating a ‘separate economy’ after this situation arises. The organization said that after the Kovid epidemic, the economy will have to take different initiatives for capital, labor, skills, and new business and sector.
If the corona epidemic had not spread in the world…
According to the Washington-based Global Lander, the Covid-19 pandemic will push 88 million to 115 million people into extreme poverty, bringing the figure to a total of 150 million by 2021. It all also depends on the severity of the economic pressures. According to the Biennial Poverty and Shared Prosperity Report, regression showed a rate of 9.2 percent in 2017. If the corona epidemic had not spread in the world, the poverty rate in 2020 was expected to be 7.9 percent.
Post Covid Economy Must Build: David Malpas
World Bank Group President David Malpas said that epidemic and global recession are the reasons why 1.4 percent of the world’s population is very poor. This cycle has to be reversed for economic growth and poverty reduction and for that countries will have to prepare for a post-COVID economy in which capital, labor, skills will be allowed to enter new businesses and sectors. It is now believed that these new poor will be in those countries which already have high poverty rates.
Global poverty rate to be around seven percent by 2030
The World Bank said that the spread of the Covid-19 epidemic, along with the conflict of interests, has pushed climate change away from the goal of eradicating poverty by 2030 without any significant critical and substantial policy action. The World Bank also said that by 2030, the global poverty rate can be around seven percent.
‘Surely nothing can be said about India’
The World Bank in its report said that due to a lack of recent data in India, there are problems in keeping an eye on global poverty. The absence of recent data in India, which is one of the largest economies of the poorest of the poor, may create substantial uncertainty about current estimates of global poverty.
According to the Johns Hopkins Coronavirus Resource Center, the infection has engulfed more than 35 million people and killed more than 1 million worldwide. The US is the country most affected by corona, with more than 7.5 million cases of corona and more than 2,10,000 deaths. Covid-19, which originated in China’s Wuhan city in December last year, has also forced the International Monetary Fund as well as the world economy to say that the global economy is bound to suffer a dangerous economic downturn.
