ILO reported 400 million workers in India may face poverty due to COVID-19 crisis

The report highlighted that the economic breakdown will wipe out 195 million full-time jobs or 6.7% of working hours globally in the second quarter of the year 2020.
Akshaya

Updated: Apr 08,2020 08:08:24 pm

ILO reported 400 million workers in India may face poverty due to COVID-19 crisis

08 April 2020 Current Affairs:United Nations' International Labour Organization (ILO) reported that the Indian economy is to face catastrophic consequences in the second quarter of 2020 in the wake of the COVID-19 outbreak. 

ILO's report highlights:
♦ In its report titled 'ILO Monitor 2nd edition: COVID-19 and the world of work', ILO described COVID-19 pandemic as "the worst global crisis since World War II".
♦ It stated that about 400 million people working in the informal economy in India are at risk of falling deeper into poverty due to the coronavirus crisis.
♦ The report highlighted that the economic breakdown will wipe out 195 million full-time jobs or 6.7% of working hours globally in the second quarter of the year 2020.
♦ The COVID-19 pandemic might cause a catastrophic effect on working hours and earnings across the globe.

International Labour Organization (ILO):
ILO was forme in 1919. It became the United Nation's first specialized agency in 1946. Currently, there are 187 members. ILO brings together governments, employers, and workers and set labour standards, devise programs. It also develops policies to promote decent work for all women and men across the world. The main objective of ILO is to promote rights at work, enhance social protection, encourage decent employment opportunities, and strengthen dialogue on work-related issues.
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