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What are the policy implications of widespread poverty and inequality in indian economy?
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Answer:
a) Structure of GDP Growth
b) Employment
c) Education
d) Health
e) Shelter
f) General
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India embarked on big-bang economic reforms 25 years back in 1991. It is well-known that GDP growth has been much higher in the post-reform period. However, GDP is only one metric. Ultimately, the success of reforms depends on whether the well-being of people, particularly that of poor, increased over time. In this context, let’s examine the impact of economic reforms on poverty and inequality.
There are two conclusions on trends in poverty. The first one, shown in a World Bank study by Gaurav Datt and others, is that poverty declined by 1.36 percentage points per annum after 1991, compared to that of 0.44 percentage points per annum prior to 1991. Their study shows that among other things, urban growth is the most important contributor to the rapid reduction in poverty even though rural areas showed growth in the post-reform period.
There are two conclusions on trends in poverty. The first one, shown in a World Bank study by Gaurav Datt and others, is that poverty declined by 1.36 percentage points per annum after 1991, compared to that of 0.44 percentage points per annum prior to 1991. Their study shows that among other things, urban growth is the most important contributor to the rapid reduction in poverty even though rural areas showed growth in the post-reform period.
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