A new (International monetary fund) IMF paper released on Tuesday, titled ‘Pandemic, Poverty, and Inequality: Evidence from India’ says that ‘extreme poverty was maintained below 1% in 2020 due to Pradhan Mantri Garib Kalyan Ann Yojana (PMGKY).[New Paper] — Surjit Bhalla (@surjitbhalla) April 6, 2022"Pandemic, Poverty, and Inequality: Evidence from India" with @dravirmani and @karanbhasin95We look at poverty & inequality estimates for India and here are a few big takeaways -1/nhttps://t.co/LCC9skn3Cf#EconTwitterWhat did the 2017-18 consumer survey reveal?By using temporary fiscal policy interventions i.e expanding food distribution, a large part of the shock was absorbed.- Consumption growth was found to be higher in 2014-19 as compared to 2004-11- Extreme poverty has been eradicated in IndiaIndia’s food distribution during COVID pandemicUnder the PMGKY, free ration distribution was initially announced from April to June 2020 and was later extended till November 2021.The announcement, made by PM Narendra Modi during the initial full lockdown, offered 5 kg free food grains to all beneficiaries over and above the normal quota under National Food Security Act."