POVERTY BEGETS POVERTY

The World knows, “Poverty begets poverty”. Within a little span of one year, with the beginning of Corona pandemic, according to the report of “Credit Swiss” it has been proved, not only in India, but also many other countries of The Globe. Report says earnings of India and its citizens have gone down. In the case of each adult Indian, the income ratio per head has been reduced a lot. Each Indian is with a loss of more than 10 lakhs 54 thousand 648 rupees in Indian currency. Credit Swiss reports, as a whole adult  Indians  are with a loss around Rupees- 43,95,600 crore in Indian currency. 70 years back, in 1950-51, this situation occurred in America which has been repeated after 7 decades in India. The report  forecasted that  after 5 years  again those Indians who are in loss would be able to increase their income per head up to Rupees 14,80,000. In India, according to the above report, 6.1% adult Indian became poor due to devaluation of rupees. If money devaluation had not been there, then the poor ratio would have been reduced to only 2.1%. Anyhow, Govt. of  India should have a look  to the report and also will have to analyze the devaluation causes in order to open ways to avoid the same in future.  

Comments (0)
Add Comment