In india, poverty is estimated on the basis of (1) household consumption expenditure (2) per capita income (3)per capita expenditure
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Household consumption expenditure
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The answer is an option (1) ie. 1st household consumption expenditure.
India has a potential problem of poverty, although it being one of the fastest-growing world economies.
In 2015, India had a growth rate of 7.11% and a good consumer economy.
The World Bank suggested revisions on May 2014 to its poverty calculation methodology. and purchasing power based on the measurement of poverty worldwide.
As per the updated methodology,there is around 872.3 million people who are falling below the new poverty scale.
The African countries Nigeria, and Congo are expected to win over India by the end of 2019.
As of 2014, 58% of the total population was earning on less than $3.10 per day.
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