1 min read.Updated: 23 Jun 2020, 10:54 PM ISTLivemint
The study expects India’s per capita income to fall by 5.4% to about ₹143,000 in 2020-21 from ₹152,000 last year
A decline in income inequality is usually greeted with cheers. But not this time. According to a State Bank of India study, the gap between India’s rich and poor states will narrow in the wake of the coronavirus crisis. Though such a convergence is desirable, one would have hoped to see rising incomes of the poor achieve this, not a decline in earnings of the well-to-do, as is the case now. What this reflects is the economic blow that covid-19 has dealt.