Page 26 - Issue 01

themselves as belonging to the struggling category reported the highest increase in prices. Even rich people
reported an increase in the prices. The only income category where the higher percentage reported no
increase in prices was those who were very rich.

Covid-19 also completely altered how the labour market functions – it made some sectors and some
economic activities gain whereas there were many sectors whose existence was completely nullified. No
amount of intervention was good enough to mitigate the mighty impact of the pandemic.

As time will pass, other significant ways in which individuals and the economy has been affected will
become evident. And, there will be many more ways in which the virus will continue to affect our lives

which will get revealed only with time. But yes, we do all concede that it was one demon that had potential
much greater than we could realize

Acknowledgement:

The data used in this publication come from Young Lives, a 15-year study of the changing nature of
childhood poverty in Ethiopia, India (Andhra Pradesh and Telangana), Peru and Vietnam
(www.younglives.org.uk). Young Lives is core-funded by UK aid from the Department for International

Development (DFID). The views expressed here are those of the author(s). They are not necessarily those
of Young Lives, the University of Oxford, DFID or other funders.

Namrata Gulati is a professor at South Asian University. Chandni Nanda has recently received a Master's
degree in Economics from Shiv Nadar University and has helped in compiling the graphs.

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