Talk about India’s poverty measurement system. Analyze the actions made to end India’s extreme poverty. (125 Words) [UPPSC 2019]
Comment: Financial inclusion is vital for achieving social justice by ensuring equitable access to financial services for all segments of society, including the marginalized and economically disadvantaged. It promotes social equity by providing individuals with access to savings accounts, credit, inRead more
Comment:
Financial inclusion is vital for achieving social justice by ensuring equitable access to financial services for all segments of society, including the marginalized and economically disadvantaged. It promotes social equity by providing individuals with access to savings accounts, credit, insurance, and investment opportunities, enabling them to participate in the economic mainstream.
Benefits:
- Empowerment: Access to financial services empowers low-income households to save, invest, and manage risks, fostering economic stability and reducing poverty.
- Economic Growth: Financial inclusion drives entrepreneurship and job creation, contributing to broader economic development and reducing inequality.
- Social Stability: By integrating marginalized groups into the financial system, financial inclusion supports social cohesion and helps bridge the economic divide.
In essence, financial inclusion facilitates social justice by providing financial opportunities and resources to underrepresented communities, promoting a more equitable and inclusive society.
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Measurement of Poverty in India and Steps to Overcome Rural Poverty **1. Measurement of Poverty: Poverty Line: Poverty in India is primarily measured by the poverty line, which is defined based on income and consumption. The Tendulkar Committee (2009) and Rangarajan Committee (2014) have provided upRead more
Measurement of Poverty in India and Steps to Overcome Rural Poverty
**1. Measurement of Poverty:
**2. Steps to Overcome Rural Poverty:
Conclusion: India measures poverty through income-based thresholds and national surveys. Efforts to alleviate rural poverty include employment guarantees, housing schemes, and self-employment programs.
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