Poverty In India : An Ancient Curse

Poverty

What is Poverty?

The state of being extremely poor is known as poverty.

The Issue

Poverty in India is an important issue in India, despite having one of the fastest growing economies in the world, clocked at a growth rate of 7.6% in 2015, and a sizable consumer economy: Deutsche Bank Research estimated that there are nearly 300 million people who are middle class.

 If current trends continue, India's share of world GDP will significantly increase from 7.3% in 2016 to 8.5% by 2020.^[2] In 2015, around 170 million people, or 12.4%, lived in poverty (defined as $1.90 (Rs 123.5)), a reduction from 29.8% in 2009.

The World Bank has revised its definition and benchmarks to measure poverty since 1990, with $2 per day income on purchasing power parity basis as the definition in use from 2005 to 2013.

The Poverty Line

It is the estimated minimum level of income needed to secure the necessities of life.

In 2012, the Indian government stated 22% of its population is below its official poverty limit. The World Bank, in 2011 based on 2005's PPPs International Comparison Program, estimated 23.6% of Indian population, or about 276 million people, lived below $1.25 per day on purchasing power parity.

Causes Of Poverty

The causes of poverty include changing trends in a country's economy, lack of education, high divorce rate which causes feminization of poverty, having a culture of poverty, overpopulation, epidemic diseases such as AIDS and malaria, and environmental problems such as lack of rainfall.

Social Exclusion

It is exclusion from the prevailing social system and its rights and privileges, typically as a result of poverty or the fact of belonging to a minority social group.

Vulnerability

A probability of being poor of P0 (where P0 is the headcount poverty rate). It can be shown that under plausible assumptions the average vulnerability to poverty—that is, the average probability of being poor—is equal to the head- count poverty rate.

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Lets work together to reduce the poverty rate in India.