Latest Breaking News On - அஸிம் ப்ரேம்ஜி பல்கலைக்கழகம் - Page 6 : comparemela.com
Jul 29, 2021
MUMBAI/CHENNAI – It’s been over a month since his mother died, but Vishal Meghwal can still hear her struggling to breathe as he desperately messaged friends to lend him money for the drugs she needed.
The coronavirus pandemic had already cost the 24-year-old his savings and his income from painting houses in Ajmer, a city of tombs and shrines in northwest India. Losing his mother was the biggest blow of all.
“I have never been in a situation like this,” Meghwal said by phone from Ajmer. “I have loans to repay now. There is no work. And my mother is no longer by my side.”
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View: Inequality will keep haunting Indian economy long after Covid goes away
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View: Inequality will keep haunting Indian economy long after Covid goes awayBy Duvvuri Subbarao, TOI Contributor
Last Updated: Jul 29, 2021, 10:22 AM IST
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Synopsis
Inequalities are morally wrong and politically corrosive. They are also bad economics. The huge consumption base of the bottom half of our population is our biggest growth driver. If they earn more, they will spend more, which will in turn spur more production, more jobs and higher growth.
A long queue for food. Last year, 75 million Indians retreated into poverty.
When Covid goes away, hopefully soon enough, it will leave behind a more unequal world. This is contrary to historical experience because pandemics, as Thomas Piketty notes in his widely acclaimed book Capital in the Twenty-First Century, have been great levellers.
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