[Premium] Poverty in India – Reasons and Responses

India, being one of the fastest-growing economies, despite the international tensions like Trade war and rising isolationism in the current times, is reducing the poverty ratio of its population at a rapid pace.

However, several of the Indians are still suffering due to extreme poverty. According to the Brooking report, about 3% of the Indian population is suffering due to extreme poverty.

With enormous resources and skills, India has the potential to help its entire population overcome poverty. This is of essence as it indirectly slows down the economic growth of the country and hinders the government’s ambition to become $5 Trillion economy by 2024.

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[Premium] Unemployment Crisis in India – How to Solve it?

According to the Periodic Labour Force Survey (PLFS) by National Sample Survey Office, the overall unemployment rate in the country in FY18 was at 6.1%.

However, the current survey, according to the government, is conducted in different method compared to the previous surveys.

But unemployment remains a problem, and the Government must take initiatives to make full use of the younger population to boost the growth and development of the economy.

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[Premium] Universal Basic Income – Is it a Remedy to the issue of Poverty & Inequality?

Sikkim is set to become the first state in India to launch Universal Basic Income (UBI). The idea of universal basic income has gained popularity in the western nations due to the threat of automation-induced job losses. In India, the idea gained ground due to the chronic poverty & inequality and the government’s failure to provide subsidies effectively to poor people. Moreover, the persistent farm distress and poor wage growth across occupations also highlight the need for an income support scheme in India.

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[Premium] Income Inequality in India – Causes, Impacts & Solutions

According to the Asia-Pacific wealth report, Japan’s richest persons have the largest wealth accumulation in the Asia-Pacific region, however, Chinese millionaires are also catching up to them. Meanwhile, Indian millionaires are adding wealth at the fastest in the region, which India can take pride in it. But the reality is that the bottom 60%, the majority of the population, owns less than 5% of the country’s wealth. This growing inequality threatens to destroy the fabric of Indian democracy.

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