Answer: 

Introduction:

Inequality was alarmingly high and destabilizing social and political order in much of the world even before the pandemic struck. According to the Oxfam’s Report “Survival of the Richest: The India story”, the richest 1% in India now own more than 40% of the country’s total wealth, while the bottom half of the population together share just 3% of wealth between 2012 and 2021.

But the Covid-19 pandemic deeply increased the existing inequalities in India and around the world, as per the Inequality Virus Report by Oxfam International.

Body:

Impact of the Pandemic on Class Inequalities & Poverty

• Poverty would increase significantly: As per a UNDP study, severe long-term effects of the COVID-19 pandemic could push an additional 207 million people into extreme poverty, bringing the total to over 1 billion by 2030.
• Poor will become poorer: The World Bank estimates that this pandemic will push an additional 88 – 115 million people into extreme poverty with the total rising to about 150 million by 2021. The new poor would be in countries already having high poverty rates.
• The lower paid workers lost jobs: As per the World Economic Forum, the rich were able to escape the pandemic’s worst impact; the white-collar workers isolated themselves and worked from home. However, the lower paid blue-collar workers like migrant workers, street vendors and daily wage earners were more marginalized as they could not earn anything within the confines of their homes neither did they have any financial safety net.
• Increased dependence on informal sector: According to the ILO, over 400 million people risk sliding into poverty, as they are forced to depend on informal work.
• Food insecurity: The World Bank and the FAO have said that food insecurity has spiked post-Covid in India and almost 50% of the Indian population is vulnerable to extreme poverty.
• Inequality in access to health care: The disadvantaged and marginalized groups, such as those living in rural areas and slums, faced greater barriers in accessing quality care.
• Gender inequality widened: The unemployment rate among women rose post-Covid. The CMIE estimates that the labor participation rate for women shrunk to 11% for women. Beyond income and job losses, poorer women also suffered from poor health because of the disruption in regular health services and Anganwadi centers.
• Digital inequality: As per Annual Status of Education Report (ASER), just one-third of the students could access online education. Even fewer students can take live online classes.

Conclusion:

Thus, it is clear that Covid-19 has increased existing inequalities at multiple fronts. Growing inequality undermines democracy and democratic processes. It is ultimately good neither for the society nor the economy. In order to combat the ill effects of Covid-19, the government has launched PM Garib Kalyan Anna Yojana and AtmaNirbhar Bharat Abhiyan. However, undoing the impacts of Covid-19 will certainly not be a short-term process. There is a need for policies and interventions that address these challenges and promote greater social and economic inclusion and equality.