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Impact of COVID-19 on Income of middle Class Families

	International Journal of Scientific Research and Engineering Development (IJSRED)	Full Text:
	Published Issue : Volume-3 Issue-6
	Year of Publication : 2020
	Unique Identification Number : IJSRED-V3I6P38
	Authors : Dr.Prachi Tyagi
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Abstract :

The ongoing lockdown due to Covid-19 has crippled the economy. Middle class is the stratum that builds our economy and considered backbone as the backbone of any economy.The aim of this study was to access the impact of COVID-19 pandemic on income of middle class families. The online survey was conducted among 167 middle class households. The results of our study revealed that the income of middle class families is greatly impacted due to Covid-19. The survey found that only 38% of the respondents were receiving full Salary regularly from last three months, rest were receiving either partial pay or no pay. The study revealed that 41.7% of the respondents had experienced loss of employment and 56.4% who were employed had a fear that they might experience los of employment in the coming months. It was found that 79% of the respondents were not confident that they would able to afford the basics like rent, food etc for the coming months. About 30% of the respondents didn’t pay the last month rent/ mortgage/ EMI/ bills because they had no money to pay it. More than 80% of the respondents had been bothered by feeling down, depressed due to current situation.The income of almost 75% of households have been impacted by Covid-19 outbreak and the lockdown. Government need to support middle class households who are struggling to fulfill their basic requirements .They are finding it difficult to maintain their life style due to their stagnating income. The government should listen their concern and protect them from this crisis. To help middle class households a comprehensive action plan is much is much needed. Government should ensure better social protection coverage. .