Report: 97% of Indian Households Lost Income Due to Coronavirus

Report: 97% of Indian Households Lost Income Due to Coronavirus


The Center for Monitoring Indian Economy (CMIE), a privately owned think tank based in Mumbai, said Monday over 10 million Indians lost their jobs during the “second wave” of coronavirus infections and 97 percent of Indian households reported a decline of income since the beginning of the pandemic.

According to CMIE chief executive Mahesh Vyas, unemployment for May should be roughly 12 percent, which is four percent higher than it was in April but still greatly improved over the pandemic-driven record high of 23.5 percent in May 2020.

A CMIE survey completed in April found that only 3 percent of Indians reported income gains during the pandemic year, while 55 percent said their incomes declined and 42 percent said it remained static.

“If we adjust for inflation, we find that 97 percent of the households in the country have witnessed a decline in incomes during the pandemic,” he

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