india has a higher poverty ratio than neighbouring countries what are the reason for this?
Answers
Answer:
As India is one of the fastest-growing economies in the world, poverty is on the decline in the country, with close to 44 Indians escaping extreme poverty every minute, as per the World Poverty Clock. India had 73 million people living in extreme poverty which makes up 5.5% of its total population, according to the Brookings report. In May 2012, the World Bank reviewed and proposed revisions to their poverty calculation methodology and purchasing power parity basis for measuring poverty worldwide. It was a minimal 3.6% in terms of percentage.Inside India, both income-based poverty definition and consumption-based poverty statistics are in use.According to the World Bank, India accounted for the world's largest number of poor people in 2012 using revised methodology to measure poverty, reflecting its massive population.
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Answer:
The World Bank has been revising its definition and benchmarks to measure poverty since 1990, with a $2 per day income on purchasing power parity basis as the definition in use from 2005 to 2013.[3] Some semi-economic and non-economic indices have also been proposed to measure poverty in India. For example, in order to determine if a person is poor or not, the Multi-dimensional Poverty Index places a 33% weight on the number of years that person spent in school or engaged in education and a 6.25% weight on the financial condition of that person.[4]
The different definitions and underlying small sample surveys used to determine poverty in India have resulted in widely varying estimates of poverty from the 1950s to 2010s. In 2019, the Indian government stated that 6.7% of its population is below its official poverty limit.[5] Based on 2019's PPPs International Comparison Program,[6][7] According to the United Nations Millennium Development Goals (MDG) programme,88 million people out of 1.2 billion Indians, roughly equal to 6.7% of India's population, lived below the poverty line of $1.25 in 2018–19.[8]
From the late 19th century through the early 20th century, under British colonial rule, poverty in India intensified, peaking in the 1920s.[9][10] Famines and diseases killed millions each time.[11][12] After India gained its independence in 1947, mass deaths from famines were prevented.[citation needed] Since 1991, rapid economic growth has led to a sharp reduction in extreme poverty in India.[13][14] However, those above the poverty line live a fragile economic life.[15]