-Scroll.in Going against conventional wisdom, the Indian Middle Class is not a source of liberalism. A profound contradiction lies at the heart of contemporary India’s political economy. On the one hand, it embraces economic liberalism. In September 2020, it legislated laws aimed at liberalising agriculture from state-guaranteed protections. The recent budget, passed in February, was high on promises of accelerating divestment of public sector undertakings. On the other hand, however, this enthusiasm...

-Livemint.com The shrinking of Middle Class population could have a medium-term impact on India’s growth trajectory The coronavirus pandemic may have shrunk India’s middle-class population by 32 million and driven 75 million below the poverty line in 2020, a Pew Research Centre report said, as a severe recession walloped Asia’s third-largest economy. The report, which is based on an analysis of World Bank data, said that in comparison China fared much better, with...

-The Hindu Pew Research report suggests Middle Class may have shrunk by 30% and number of poor risen by 7.5 crore India’s Middle Class may have shrunk by a third due to 2020’s pandemic-driven recession, while the number of poor people — earning less than ₹150 per day — more than doubled, according to an analysis by the Pew Research Center. In a comparison, Chinese incomes remained relatively unshaken, with just a...

-The Indian Express It is the rural Middle Class — which experienced a roughly four-decade spell of prosperity from the 1970s and now has its back to the wall — that’s at the forefront of the agitation against the farm reform laws. Prime Minister Narendra Modi has defended his government’s agricultural reform laws by invoking Chaudhary Charan Singh and pointing to the “dayaniya sthiti (sorry plight)” of marginal farmers. These below-one-hectare cultivators...

The World Economic Outlook – a bi-annual publication of the International Monetary Fund (IMF) -- released in October 2020 has anticipated that the economic progress made by the countries since the 1990s to reduce poverty would be turned upside down by the COVID-19 pandemic. On top of that, economic disparity would rise too in the post-COVID world because the crisis has disproportionately impacted women, informal sector workers and people with...