By Admin 
- Middle East tensions could push 2.5 million people into poverty in India.
- The pace of human development will stop and other economic losses will also occur.
- The poverty rate may increase from 23.9% to 24.2%.
- India is heavily dependent on the Middle East for energy and fertilizers.
India Poverty Report: Amidst the ongoing tension in the Middle East, bad news is coming for India. According to a report, due to this global crisis, about 25 lakh people in India may get trapped in poverty. Along with this, one may also have to face obstruction in the pace of human development and other losses.
The United Nations organization United Nations Development Program (UNDP) has revealed these things in its report. Let us know, what impact is this war going to have on India?
Clouds of crisis over 25 lakh people
The latest report of UNDP has indicated that around 88 lakh people around the world may fall into poverty. The report also shows that the impact of increasing military spending and persistent tension in West Asia will not be limited to that region only, but it can also impact the economy of the Pacific region.
According to estimates, there is a possibility of loss of about 299 billion US dollars. Regarding India, the report says that the number of people affected by poverty in the country may increase from about 4 lakh to 25 lakh.
Poverty rate also increased
The report also talks about the country’s poverty rate. India’s poverty rate may increase from 23.9 percent to 24.2 percent. Due to this, about 24,64,698 additional people may come under the ambit of poverty. Also, it is estimated that after this crisis, a total of 35,40,33,698 people in the country may live in poverty. Earlier this figure was said to be 35,15,69,000.
Country’s dependence on the Middle East
The UNDP report also points out the country’s dependence on the Middle East. According to the report, the country imports more than 90 percent of its oil needs from other countries. Of these, 40 percent crude oil and 90 percent LPG comes from the countries of West Asia. Also, more than 45 percent of fertilizer is supplied from the Middle East. These figures clearly show to what extent countries are dependent on Middle East countries to meet their energy needs.
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If you do SIP then keep these things in mind! Otherwise, after seeing the loss, you will hold your head.