30% of India’s urban population could be out of savings by June-end

According to one survey, 84% of households suffered a loss in income since the lockdown was imposed in India in the wake of the novel coronavirus. An analysis based on data from official sources suggests that even in the most optimistic scenario, close to 30% of India’s urban population could be out of savings and unable to cover essential expenditure by June-end. In terms of numbers, this translates into nearly 139 million people.