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During the state of poverty, the essentials required to maintain the minimum standard of living are not met. People living with such conditions either have very low income or no source of income. They might have no proper housing, required medical facilities, clean water, or nutrition-rich food. The criteria to determine whether a person lives in poverty is distinct for every nation. The basic characteristics of an individual living in poverty are little education, health issues, hygiene, and homelessness. Poverty is difficult to deal with, and the consequences are often dangerous.
About poverty in India
The economy of India is growing at a fast pace. It is a developing country, and still, poverty is a major issue to resolve. The world bank defines extreme poverty as living on 1.9 USD or less than that in purchasing power parity. In India, it was 0.8% in 2019, and the same figure was maintained despite the unusual Covid-19 outburst. India has managed to lift about 271 million people out of extreme poverty levels in a period of 10 years (2005-2006 to 2015-2016). To know the situation about poverty in India, several non-economic and semi-economic indices are used. A varying estimation is made with the help of sample surveys and distinct definitions to calculate poverty in India. In 2019, the government of India reported that about 20.8% of the total population is below the poverty line. Poverty in India peaked in the 1920s during the British raj. After the independence of India in 1947, gradually, it decreased. Since 1991, a noticeable reduction in extreme poverty has taken place due to rapid growth in the country’s economy. The people just above the poverty line have a very fragile economic lifestyle. The World Poverty Clock shows the real-time trends of poverty in India. As per current analysis and estimates, India will meet its sustainable development goals by 2030. The nation is on its path to ending extreme poverty. The nation’s top 1% population holds 73% of the total wealth.
Poverty alleviation policy
Poverty is an important issue in India. The nation’s economy has been getting affected by poverty for a long time. To ensure tIndia’srequired growth and prosperity, the poverty alleviation policy is of great significance. It comprises a set of policies decided on the economic ground and humanitarian grounds for the complete eradication of poverty from the nation. The government launched numerous schemes to remove poverty and provide daily life essentials to the needy. The target of the poverty alleviation policy is to support the individuals/households that are below the poverty line. Although the policies are implemented, eradicating poverty is not easy. Some of them are schemes and programmes like Pradhan Mantri Awas Yojana, Housing for All, Stand Up India, StartUp India, and Pradhan Mantri Suraksha Bima Yojana. Employment generation is also an important step for poverty eradication.
Conclusion
The ratio of the total number of people in a particular age group whose income is below poverty line, considering half the median income of the entire population is the poverty rate. The poverty rate in India in 2022 is approximately 25.01%. The nation has achieved more than 7% of annual growth over the last 15 years and manages to pull out millions of people from below poverty continuously. The poverty rate in India has halved over the last three decades. Due to the poverty alleviation policy, very noticeable and sharp improvements have been seen in overall human development.
