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Eco Notes 1

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36 views3 pages

Eco Notes 1

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Economics Notes: Poverty as a Challenge

Introduction to Poverty
 Definition: Poverty is the inability to fulfill basic needs such as food,
clothing, shelter, education, and healthcare.
 Types of Poverty:
o Absolute Poverty: A fixed standard of measuring poverty
based on basic subsistence levels.
o Relative Poverty: A comparison of wealth across di erent
individuals or groups within a society.

Indicators of Poverty
1. Income Level: Below the poverty line (BPL), defined by earning less
than ₹32/day in rural areas and ₹47/day in urban areas (as per earlier
estimates in India).
2. Consumption Level: Insu icient calorie intake (2400 calories/day in
rural and 2100 calories/day in urban areas).
3. Human Development Indicators: Lack of access to healthcare,
education, and clean drinking water.

Causes of Poverty
1. Economic Factors:
o Unemployment and underemployment.
o Unequal distribution of resources.
o Low agricultural productivity and landlessness.
2. Social Factors:
o Caste and gender discrimination.
o Illiteracy and lack of skills.
3. Political Factors:
o Corruption and ine icient implementation of policies.
4. Historical Factors:
o Colonial exploitation leading to economic drain.

Extent of Poverty in India


 Current Scenario: India has witnessed a decline in poverty from 45%
in 1993-94 to about 22% in recent years (adjust for the latest
statistics if needed).
 Global Comparison: India contributes significantly to the global
poverty numbers due to its large population.

Consequences of Poverty
1. Social Issues:
o Malnutrition, child labor, and illiteracy.
o Social unrest and increased crime rates.
2. Economic Issues:
o Reduced productivity.
o Hindered national growth and development.

Steps Taken to Alleviate Poverty


1. Government Programs:
o Mahatma Gandhi National Rural Employment Guarantee
Act (MGNREGA): Provides 100 days of wage employment.
o Public Distribution System (PDS): Ensures food security for
the poor.
o National Rural Livelihood Mission (NRLM): Promotes self-
employment.
o Pradhan Mantri Awas Yojana: A ordable housing.
o Mid-Day Meal Scheme: Improves nutrition among children.
2. Economic Reforms:
o Promoting small-scale industries.
o Encouraging foreign investment and economic liberalization.

Challenges in Reducing Poverty


 Corruption and leakages in schemes.
 Overpopulation leading to resource strain.
 Regional disparities in development.
 Ine ective targeting of beneficiaries.

Way Forward
1. Improved Governance: Transparency and accountability in the
implementation of welfare schemes.
2. Education and Skill Development: Empowering the workforce for
better employment opportunities.
3. Inclusive Growth: Reducing income inequalities and ensuring
equitable resource distribution.
4. Community Participation: Involving local communities in planning
and execution.

Conclusion
 Poverty remains a significant challenge for India despite progress in
alleviating it.
 A multi-pronged approach combining economic growth, social
equity, and e ective governance is essential to eradicate poverty.

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