#infation

Inflation

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Zanku-ing, Moonwalking from 2020 into 2021…

The last time I wrote on this blog was May 2020, happy new year people!!! 2020 was a heck of a year. Seems 2021 is picking up where 2020 left but with the added bonus of there being a vaccine or vaccines. Hope you’re doing well and your loved ones are too. Here’s hoping 2021 serves a better main course. 2020 was an eventful year on my end. There were moments of joy, moments of sadness, moments…

India is a developing nation that works hard to improve its economic conditions. Even though poverty remains a significant problem in our country, particularly in rural areas where individuals struggle to access healthcare and fulfill their own ambitions. They lack access to a good standard of living, which causes them to experience troubles.

Although during the planning periods, India's national income and per capita income improved, social welfare increased, literacy levels rose, and people were able to meet more and more of their needs, poverty (and particularly rural poverty) is still there in its terrifying form. According to the latest research, 4.2% of India's population—or 16.4% of the country's total population—lives in extreme poverty, with a deprivation score of more than 50%. In this blog post, we will cover the major challenges that Indian people face due to poverty.

An introduction to poverty

Poverty is a state or circumstance in which an individual or a group of people do not have enough money or the necessities of life. In other words, it refers to the need for more sufficient financial resources, which prevents people, households, and entire communities from having the means to survive or obtain the essentials for a happy life. This entails people being so destitute that finding adequate food, clothing, shelter, and medical care is difficult.

People in India face major poverty challenges.

Poverty implies more than a lack of income and productive resources to provide a sustainable livelihood. Poverty indeed prevents people from having access to enough food, appropriate clothing, medical care, and a clean environment. Here are some examples of its manifestations:

1. Lack of education

The lack of education is one of the main issues associated with poverty. Due to low income or no income, many families struggle to give their children a quality education, which creates difficulties and obstacles in later life.

Although it is a vicious circle, lack of education causes poverty and low-paying occupations, which make it difficult for people to support their children's education. As a result, youngsters are unable to escape the cycle of poverty.

2. Social discrimination

As poor people have less access to good food and sufficient medical treatment, they face societal discrimination.

Even though it is less well known, discrimination based on poverty prevents some people from getting the health care, education, housing, or employment they need.

In actuality, stigmatization, discrimination, and stereotypes frequently spiral out of control as a result of how poorly society and institutions treat those who are poor.

3. Unemployment

One of the most serious repercussions of poverty is unemployment. Those who lack access to healthcare, education, or even food are unable to apply for jobs. They lack the qualifications to obtain any position that offers stability and good pay.

They are trapped in poverty since they are unable to cover their fundamental necessities due to the unpredictability of their income.

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4. Malnutrition

Poverty increases the risks of malnutrition and its consequences. Several types of malnutrition are more likely to harm the poor.

However, a cycle of poverty and ill health may also be perpetuated by malnutrition, which also raises healthcare expenses, lowers productivity, and hinders economic growth.

5. Multidimensionality

A poor person may have numerous drawbacks, such as poor health or hunger, a lack of clean water or power, low employment quality, or inadequate education.

Income alone cannot be used to determine poverty levels. According to the National MPI, there are numerous deprivation-related variables in it.

The MPI is based on three factors: standard of living, health, and education. Each factor weighs in at one-third of the MPI.

6. Vulnerability

The options are accessible to various communities for locating an alternative way of life in terms of assets, education, health, and employment possibilities determine their vulnerability to poverty.

The analysis also takes into account the higher risks that these groups encounter during natural disasters (earthquakes, tsunamis), terrorism, etc. Their capacity to manage these risks on a social and economic level is an additional problem.

7. Inflation

Poverty is made worse by inflation, which also causes a rise in the cost of basic goods. Thus, inflation is seen as the "cruelest tax" on the impoverished.

The ongoing and rapid rise in prices is making the poor poorer. Few people in society have benefited from it, and those in lower-income groups find it challenging to meet their basic needs.

8. Community exclusion

This idea holds that poverty must not be seen as the inability of the poor to enjoy social equality with better-off people in better surroundings, instead must be recognized as a condition in which the impoverished must live exclusively in a poor environment with other poor people.

For instance, the functioning of India's caste system, in which members of particular castes are denied access to opportunities.

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The last line

It is acknowledged that poverty is still a significant problem in India. As education is the most effective tool for ending poverty, we should all start working towards it in order to end this poverty. We can develop more as we gain knowledge. Thus, whatever anyone knows, strive to share it with others so they can learn something new from you.

Six indicators which will determine whether demonetization is a success or not

Image Credit: http://www.pragativadi.com

Demonetization is the hottest topic nowadays. Where ever you go its being discussed. The entire print media, electronic media and social media is thronged with news / reports / articles on the same. There is a daily a new twist in the story.

While surveys point out that people are happy with the decision, in the same breath they admit that it is causing…