This is how homophobia costs Indian economy ₹ 2000 billion every year

A World Bank study estimates homophobia costs Indian economy a loss of ₹ 2000 billion ($30.8 billion ).

Author of the study and leading economist MV Lee Badgett used India as a case study.

Violence, job loss, discrimination, family rejection, harassment in schools, discrimination at workplaces, pressure to marry- all these  forms of homophobia cause less education, lower earnings, more poverty, poor performance, depression, poorer health and shorter lives. This ultimately results in loss of economy.

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Health disparities ( depression, suicide) cost 1500 billion and Labour related disparities (less education, poor performance, lower earnings) cost 500 billion.

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LGBT individuals receive lower wages due to workplace and education discrimination, which reduces the governments tax income. A higher poverty rate due to low income leads to more government spending on social programs. High rates of depression, suicide results in higher government health care costs.

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This is just the minimum cost as most of gay people in India are in closet and number of LGBT people is not exactly known.

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