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Pandemic pushes 32 million Indians out of middle class, says Pew Research
“India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the COVID-19 downturn,” the Pew Research Centre said, citing the World Bank’s forecasts of economic growth.
Nearly 57 million people had joined the middle income group between 2011 and 2019, it added.
Nearly 40k coronavirus cases in India: Govt
7.8 mn domestic air passengers in Feb, 36.71% lower than last year: DGCA
The occupancy rate or load factor of the six major Indian airlines was between 67.9 per cent and 78.9 per cent in February, it stated.
“The passenger load factor in the month of Feb 2021 has shown increasing trend compared to previous month primarily due to beginning of tourist season,” the DGCA said.
Magma Fincorp to sell stake in insurance venture Magma HDI in Rs 525-cr deal
Following the latest Rs 525 crore-transaction, the Poonawalla Group will become the main promoter with around 30 per cent direct and indirect stake in Magma HDI while HDI will be the single largest shareholder with 17.1 per cent stake. HDI’s remaining stake will be offloaded through a secondary sale.
ICICI Venture will become the third largest shareholder with 16.7 per cent in Magma HDI.
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