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What is Poverty? | Definition, Reasons, Solution, and Mind-Blowing Facts.

“Poverty is just like a punishment for a crime you did not commit”.

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  • What is poverty?
  • Poverty in the world and Types (Absolute and relative.) Effects of poverty. Facts and Causes of poverty. Solutions & How to help poor people?

What is Poverty?

Poverty is the stage in which a family lacks the minimum necessary level of life. The meaning of poverty is that the income from all the sources is so low that even the main necessities of the house cannot afford it. Poor families might survive without proper housing, healthy food, clean water, and medical attention. Every country set their poverty line and this determines how many of its people are living below the poverty line.

Poverty in the world.

We know that all of the richest countries in the world are very small. That’s why we will see big countries to know poverty in the world. Such as the USA, Russia, India, China, Brazil, etc.

Poverty in the USA refers to the people who do not have sufficient income or material possessions for their daily needs which are set by the HHS department. Although the US is a relatively wealthy country in comparison to other nations the penury has consistently been present throughout the US.

According to the assessment of 2020 by the Census Bureau of the United States, the percentage of Americans living in pe for 2019 had fallen to the lowest levels ever recorded is 11.1%. However, during the period of pandemic around 80 lakhs people dragged into impoverishment.

Indian economy.

As we know that India is one of the fastest-growing economies in the world. Poverty is decreasing very rapidly in the country. Around 44 people escaping extreme poverty every minute according to World Poverty Clock.

According to the UNDP (United Nations Development Programme) Administrator Achim Steiner, India saved 271 million people from poverty in the time period 2005/06 to 2015/16. Indian government states that 6.7% of the total population is below the poverty line in 2019.

All countries are constantly trying to eradicate poverty, but so far no country has been successful. lowest levels ever recorded due to the economic growth period and it is stood at 11.1%. lowest levels ever recorded due to the economic growth period and it is stood at 11.1%.

Types of poverty.

Absolute poverty is the condition in which a household does not have sufficient income for a basic standard of living. According to the world bank the population whose living is less than $1.90 per day is comes under extreme impoverishment. It may vary from country to country.

Relative poverty is defined in comparison to another person’s standing in the economy. If a person cannot afford a minimum standard of living as compared to others at the same place and at the same time then this condition is considered as relative poverty.

Effects of poverty.

  1. Health- The biggest effect of impoverishment is bad health. People who are living in extreme scarcity do not have access to healthy food, seasonal clothes, medicines, and a clean environment. Due to scarcity, they suffer malnutrition. Due to the lack of some very important resources, people become ill and lose their precious lives due to a lack of money for treatment.
  2. Education- Due to penury, children of poor people are not able to get primary education. In the future, due to illiteracy, unemployment, and increasing penury, all the paths of their progress will be closed.
  3. Stress- Poor peoples are suffering from a lot of stress. Because they cannot fulfil their basic needs.
  4. Child labor-Scarcity forces people to send their children to work in place of school.
  5. Terrorism-poor youngsters are targeted for terrorism and involved in terrorist activities.

Mind-blowing facts

  • More than 3 billion people around half the world’s population survive on less than $2.5 in a day.
  • According to UNICEF, around 22k children die due to a scarcity of food every day.
  • More than a billion people of the 21st century are unable to read and sign their names.
  • More than 689 million people surviving in extreme impoverishment.
  • Around 644 million children are experiencing it penury.

Causes of poverty

  1. Lack of financial education is the biggest reason for penury. People are educated but they don’t know to manage money. Because When a person knows to use 100 rupees properly. Then he can earn a thousand rupees and when he uses the thousand rupees properly, he can earn a lakh of rupees.
  2. Social customs such as the caste system, gender inequality, and marginalization of society is one of the biggest cause of penury.
  3. Overpopulation is also one of the biggest causes of penury. Because the population is continuously increasing but resources are fixed.
  4. Corruption- This is also a big reason for scarcity because poor people are unable to take advantage of all the opportunities created by the government due to corruption.
  5. Individual- In a country like India, earning money is not as difficult as it is being told. There are hundreds of ways to earn money in the world, but many people only want to do jobs, due to which they become the Seekers of scarcity. Job vs business read this article to know the reality.

How to help poor people?

If you also think that earning money is not easy then read this blog Earn Money With Business.

You can help poor people by sharing money-making ideas or by sharing the link to this blog.

We are working on a very serious business mission the Atmanirbhar Bharat mission. If you want to earn money with us then send a message on Whatsapp nu. +91 7649866386. Our team replies to you as soon as possible.

Hope this blog is helpful for you.

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