...Poverty in India Absolute poverty or destitution is the term used to describe deprivation of basic human needs i.e. food, water, sanitation, clothing, shelter, health care and education. While relative poverty refers to economic inequality in a particular location or society in which people live (The Economist, 2010). India has 1/3rd of World’s poorest population according to World Bank and it has been facing significantly high levels of poverty with most people living in agrarian and rural communities where 77%of poor Indians live. India is amongst the globally largest countries and thus poverty has a considerable pressure and weight on the country; about three-quarters of India’s population reside in rural areas and suffer higher levels of poverty regardless of efforts and policies being implemented from the past four decades (Prato & Longo, 2012). The rates of poverty in the country are affected by issues such as presence of factors, population density, ecological conditions and irrigation facilities etc. While there are other factors too that influence the level of poverty in rural areas of India i.e. caste, land ownership, literacy and gender (Yusuf, 2014). Impacts of Openness and Literacy rate on poverty in India Degree of openness refers to an economic metric, calculated as the ratio of country's total trade, the sum of exports plus imports, to the country's gross domestic product. The interpretation of the Openness Index is the higher the index the larger...
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...Poverty, Rural Development and Inclusive Growth Group 07 Poverty, Rural Development & Inclusive Growth In this report we would be focusing on Sustainable Inclusive Growth Background Post independence a combination of protectionist, import substitution and Fabian social democratic – inspired policies governed India. Economy was characterized by extensive regulation and public ownership of large monopolies. Owing to economic liberalization in 1991, the country moved to a market based economy and slowly established itself as the world’s fastest growing economies when it reached its highest recorded GDP growth rate of 9%. However there has been significant debate, around liberalization as an inclusive economic growth strategy. Since 1992, income inequality has deepened in India with the wealthiest generating consumption growth and the consumption among the poorest remaining stable. With India’s Gross domestic product (GDP) growth rate touching a decade long low in 2012-13 , growing merely at 5%, more criticism of India's economic reforms surfaced, citing failure to address employment growth, nutritional values in terms of food intake in calories, and also exports growth - and thereby leading to a worsening level of current account deficit compared to the prior to the reform period. Growth that is not inclusive affects the society, the economy and the polity by resulting in real and perceived inequities Thus making growth more inclusive and addressing widespread poverty...
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...Poverty is the biggest menace of the world and has more formidable dimensions in India. And poverty has numerous definitions given by different people/organizations. However, lack of minimum civic basics like food, shelter, clothing, sanitation, safe water and schooling etc. are the common factors. Lack of education deprives people from voicing their feelings, needs and demands to the state authorities and they continue to suffer. They suffer from malnutrition and under nutrition so easily fall prey to serious health issues due to reduced immunity power. Poverty is also defined by another parameter which is per-capita/per-day income, which as per World Bank parameter is an income of less than 1.25$. In India this figure stands at Rs. 28/- and...
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...As the world economy is advancing rapidly, the issue of poverty still prevails and is nowhere close to eradication in the seventh largest economy, India, also one of the world’s poorest countries (“World GDP Ranking,” n.d.). A large sector of the population is deprived of the basic necessities of life. The main cause for poverty in our country is the growing population which has limited resources at its disposal for exhaustion. At present, India has a population of 1.28 billion which will only increase with each day (“India Population,” 2015). In addition to this, unequal distribution of resources, lack of infrastructure and perennial unemployment also contribute greatly. Procreation and demographic variables, mainly population, affect poverty...
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...Impacts: India: Although the Indian economy has grown steadily over the last two decades, its growth has been Uneven when comparing social groups, economic groups, geographic regions, and rural and urban Areas. Between 1999 and 2008, the annualized growth rates for Gujarat, Haryana, or Delhi were much higher than for Bihar, Uttar Pradesh, or Madhya Pradesh. Poverty rates in rural Orissa (43%) And rural Bihar (41%) is among the world's most extreme. Poverty has taken away the basic rights of the poor people. People facing poverty are looked over when making any decisions. The Government does not look at hardships that they may have to suffer. They are treated unequally in the Eye of the law as the corrupt courts and police only favor the ones...
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...Medical Out-of-Pocket Expenses, Poverty, and the Uninsured∗ Kyle J. Caswell† and Brett O’Hara SEHSD Working Paper 2010-17‡ U.S. Census Bureau Washington, D.C. December 29, 2010 Abstract The National Academy of Sciences (NAS) Panel on Poverty and Family Assistance argued that the current official U.S. poverty measure should be updated to capture changes in the population’s healthcare costs and needs; families with sufficiently high medical out-ofpocket (MOOP) expenditures may be ‘poor’ even though they are not counted as such. This research offers three distinct advances toward achieving the NAS recommendations as they concern MOOP spending. Firstly, this paper uses the newly collected MOOP expenditure data from the CPS ASEC, and analyzes its quality vis-` -vis alternative sources. Secondly, a poverty estimates that incorporate the MOOP spending data from the CPS ASEC are produced in such a way as to be consistent with the NAS recommendations. These direct estimates are an improvement over previous estimates, conditional on obtaining high-quality data, because modeling MOOP expenditures from other surveys is not needed. Third, this paper investigates how the distribution of MOOP expenditures, and the poverty estimates, change when it is assumed that the uninsured have the spending patterns of the insured. The main results are: 1) the new MOOP expenditure data is high quality; 2) incorporating observed MOOP expenditures increases the incidence of poverty across the population by approximately...
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...the temporal and cross state behaviour of the growth ,poverty and inequality and also to examine the relations between them and to see whether the temporal behaviour of the incidence of poverty is compatible with the policy evolution followed since independence Further we re-examine whether the conventional hypothesis that growth is a necessary but not sufficient condition for the reduction of poverty across the states hold. Finally, we try to find out the proximate explanatory factors for the crossstate and temporal variations in the incidence of poverty in terms panel regression analysis. We find that our economy has indeed achieved a high growth trajectory such that it has been conspicuous during the post reform period with a remarkable structural transformation on an unconventional path which has been accompanied by a tremendous increase in service sector driven growth path. Almost all the states have experienced increase in the growth rates of their real per capita NSDP in varying degrees over the period and the post reform period marks a phase of achievement of very high growth rates for almost all the states. The nature of the growth experienced by the states is found to be divergent .We do not find any uniform relation between temporal behaviour of the growth rates and the Gini inequality across the states Interestingly almost all the states have experienced declining trend in the incidence of poverty in varying degrees during the pre reform period and also...
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...------------------------------------------------- Poverty in India Poverty is widespread in India, with the nation estimated to have a third of the world's poor. According to a 2005 World Bank estimate, 26.1% of the total Indian population falls below the international poverty line of US$ 1.25 a day (PPP, in nominal terms 21.6 a day in urban areas and 14.3 in rural areas).[1] A recent report by the Oxford Poverty and Human Development Initiative states that 8 Indian states have more poor than 26 poorest African nations combined which totals to more than 410 million poor in the poorest African countries.[2][3] According to a new UN Millennium Development Goals Report, as many as 320 million people in India and China are expected to come out of extreme poverty in the next four years, while India's poverty rate is projected to drop to 22% in 2015.[4] The report also indicates that in Southern Asia, however, only India, where the poverty rate is projected to fall from 51% in 1990 to about 22% in 2015, is on track to cut poverty in half by the 2015 target date.[4] The 2011 Global Hunger Index (GHI) Report ranked India 45th, amongst leading countries with hunger situation. It also places India amongst the three countries where the GHI between 1996 and 2011 went up from 22.9 to 23.7, while 78 out of the 81 developing countries studied, including Pakistan, Nepal, Bangladesh, Vietnam, Kenya, Nigeria, Myanmar, Uganda, Zimbabwe and Malawi, succeeded in improving hunger condition.[5] ...
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...How are different governments trying to solve poverty compared to Hong Kong’s in the past 10 years? What is poverty? Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money. In addition to a lack of money, poverty is about not being able to participate in recreational activities; not being able to send children on a day trip with their schoolmates or to a birthday party; not being able to pay for medications for an illness. These are all costs of being poor. Those people who are barely able to pay for food and shelter simply can’t consider these other expenses. Global perspective Many countries around the world have people living under the poverty line. But many countries in Africa are suffering major cases of poverty. There are other bigger countries that suffer major cases of poverty such as India and China. In this essay I will be focusing on how India, China and the United States of America try to solve poverty in their countries. The United States of America has a population of 317,128,000, which is the third biggest country in the world after China and India. In 2008 35% if the American population lived in poverty and now in 2013 around 15% live in poverty which a huge improvement. Kiryas Joel, New York is a city in the United States, which has the lowest GDP (Gross Domestic Product), with a population over 10,000. The main reasons people...
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...India The Republic of India is a country located in South Asia and the capital is New Delhi. It is the seventh largest country in the world, slightly more than one third the size of the United States. It is also the second most populated country with over 1.22 billion people. India’s economy is continuing to grow and based on the purchasing power parity, it is the third largest in the world at 4.76 trillion dollars. India is also the second largest in the world when it comes to workforce. India’s three major economic sectors are: agriculture, industry, and services. The original official currency of India is the Indian rupee. The Indian rupee has been falling against the US dollar, as shown in the graph below. The exchange rate between the Indian rupee and the US dollar over the past five years are: 43.319 in 2008, 48.405 in 2009, 45.726 in 2010, 46.671 in 2011, and 53.437 in 2012. (CIA) This means that one US dollar is equivalent to 53.437 rupees, in the year of 2012. This also means that the value of rupee is depreciating. A weaker rupee has its pros and cons. A weaker currency will make imports more expensive, the price of oil and other materials to import from foreign countries will go up. Since one of the big imports of India is crude oil, it only makes the economy worse. Higher oil price means higher transportation price, so therefore producing products will be more expensive and that leads to higher inflation. Rupee depreciation has its bright side for companies that...
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...Summary…………………………………………………………………………...3 1. Introduction…………………………………………………………………………... 5 2. Discussion……………………………………………………………………………. 5 2.1 Definition: What is child labour? ..................................................................... 5 2.2 Definition: What is globalisation? ………………………………………….... 6 2.3 Difference between developing and industrialised countries……………........ 6 2.3.1 Facts and background of India and Germany ………………………………... 7 2.3.2 ILO Convention no. 138 …………………………………………………….. 8 2.3.3 Perception of child labour in society ………………………………………… 8 2.3.4 Laws and how they are executed……………………………………………... 9 2.4.1 School attendance rate ……………………………………………………… 10 2.4.1 School drop-out rate ………..………………………………………………. 10 2.5.1 Structural change and the state of economy………………………………… 11 2.5.2 Digression to historical development in Germany………………………….. 11 2.5.3 Deriving historical insight in present India…………………………………… 12 2.6.1 Value of the individuals workforce…………………………………………… 12 2.6.2 Distribution of income………………………………………………………... 12 2.6.3 Poverty and workforce………………………………………………………... 13 2.7 Globalisation and its impact on child labour……………………………………. 13 3. Conclusion…………………………………………………………………………... 14...
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...Economic Growth Of India In 2011 India has one of the fastest growing economies in the world. The Indian economy is characterized by population bursts, poverty, unemployment and child labour. These rising issues have become a major concern for the Indian economy but yet have proven to bring a raise in the Indian economy for the 2011 year. This economic burst will not be sustainable for the Indian economy in the approaching years. Researchers have found that India is becoming a very populous nation. It readily has an increasing birth rate and statistics show that the numbers will keep growing. India's population is expected to reach 1.5 billion in 2030, accounting Indians' to occupy 20% of the human population on earth. If the population bursts continue then the economy of India will go downhill. It will have an effect on many factors that play a role in the economy. This will not only make life harder for people who are already on the verge of poverty but make those who are under the poverty line have a harder time surviving. Poverty is a growing concern in India especially when the nation has been estimated to have a third of the world's poor. Population bursts are causing poverty in the society, making it harder for families to gain access to their daily necessities. The increase in poverty is the leading cause of children being malnourished and underweight. If this continues than there will not be a future generation to run the Indian economy. Due to the baby boomers...
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...Corruption as a phenomenon, is a global problem, and exists in varying degrees in different countries (Agbu, 2001). Corruption is not only found in democratic and dictatorial politic s, but also in feudal, capitalist and socialist economies. Christian, Muslim, Hindu, and Buddhist cultures are equally be deviled by corruption Corruption in India From Wikipedia, the free encyclopedia Political corruption | Concepts | * Bribery * Cronyism * Kleptocracy * Economics of corruption * Electoral fraud * Nepotism * Slush fund * Plutocracy * Political scandal | Corruption by country | | Europe | * Albania * Armenia * Belgium * Bosnia * Denmark * Finland * France * Germany * Croatia * Cyprus * Czech Republic * Georgia * Greece * Iceland * Ireland * Italy * Kosovo * Latvia * Lithuania * Luxembourg * Macedonia * Moldova * Montenegro * Netherlands * Poland * Portugal * Romania * Serbia * Slovakia * Slovenia * Spain * Sweden * Switzerland * Ukraine | Asia | * Afghanistan * Bahrain * Bangladesh * Cambodia * China * India * Indonesia * Iran * Iraq * Jordan * Kuwait * Kyrgyzstan * Malaysia * North Korea * Pakistan * Philippines * South Korea * Sri Lanka * Thailand * Uzbekistan * Vietnam | Africa | * Angola * Botswana * Cameroon * Congo * Egypt * Ghana * Kenya * Liberia * Mauritius * Morocco * Nigeria * Senegal...
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...Poverty Amidst Plenty “India happens to be a rich country inhabited by very poor people”- Manmohan Singh, Prime Minister For the past few decades, India has been categorized as a developing country. In spite of significant landmarks and rapid advancements in various sectors, India has failed to become a developed country. While the nation has been making headlines for economic boom, multitudes of billionaires, construction of skyscrapers, million dollar investments and achievements in technology; the death rates, malnutrition, illiteracy and poverty is multiplying manifold. India is a country which has prosperity on one side of the coin and poverty on the other. It is the stark impact of poverty that hinders the growth of the country. Gone are the days when India used to be a famine land and had to rely on the Americas for the supply of PL wheat. With the advent of the Green revolution, India, not only eliminated famine but also increased its food production and became self-sufficient in food grains. Operation Flood, initiated by National Dairy Development Board in 1970 introduced a National Milk Grid that was effective in reducing the poverty and famine levels. It has also made India the largest producer of milk and dairy products in the world. Agriculture has been the base of India’s economic development with its existence dating back to the Indus Valley Civilization. Today, India is one of the major agricultural economies in the world, in terms of area of cultivation...
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... 5 2. Introduction 6 3. Urban Poverty 7 4. Urban Microfinance 9 5. Financial Inclusion in India 11 6. Microfinance as an Anti-Poverty Vaccine 15 7. Transformation of Microfinance in India 19 8. Scaling up Microfinance 22 9. Microfinance in India - A Tool For Poverty Reduction 26 10. SWOT Analysis of Microfinance 29 11. Delivery Models of Microfinance 32 12. Interest Rates in MFIs and prevailing trends 36 13. Scope of further study 42 14. Conclusion 44 15. Bibliography 46 OBJECTIVE OF THIS PROJECT WORK This project work tries to outline the prevailing condition of the Microfinance in India in the light of its emergence till now. Microfinance refers to small savings, credit and insurance services extended to socially and economically disadvantaged segments of society. It is emerging as a powerful tool for poverty alleviation in India. The prospect of Micro-Finance is dominated by SHGs (Self Help Groups) - Banks linkage Program. Its main aim is to provide a cost effective mechanism for providing financial services to the poor. To understand the transformation experiences better, the issues that trigger transformation were identified viz.: size, diversity of services, financial sustainability and focus. It is argued that the transformation experiences in India are not large in number. However, I found that there are...
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