1. Global Poverty Statistics:
    • Many people around the world live on less than $1.90 per day (extreme poverty).
    • By 2030, almost 9 out of 10 extremely poor people will live in Sub-Saharan Africa.
  2. Causes of Poverty in India:
    • Colonial Rule Impact: British policies harmed India’s economy, reduced job opportunities, and slowed industrial growth.
    • Population Growth vs Economic Growth: High population growth and low economic growth in the past led to low per capita income (income per person).
    • Agriculture and Green Revolution: The Green Revolution improved farming in some areas but didn’t reach all regions. Jobs in agriculture increased, but many still couldn’t find stable work.
    • Urban Poverty: As people migrated to cities, they often had low-paying jobs like rickshaw pulling or street vending, leading to slums and poor living conditions.
    • Income Inequality: Unequal land distribution and other resources kept many poor. Land reforms (laws to redistribute land) were not well implemented.
    • Indebtedness: Poor people borrow money to meet basic needs, but they can’t repay and fall deeper into poverty.
  3. Anti-Poverty Measures:
    • Economic Growth: Economic growth helps reduce poverty by creating jobs, increasing resources for education, and improving living standards.
    • Targeted Programmes: The government has introduced schemes to directly help the poor:
      • Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): Provides 100 days of work for rural families, ensuring livelihood security.
      • Prime Minister Rozgar Yojana (PMRY): Creates self-employment for educated youth in rural areas.
      • Rural Employment Generation Programme (REGP): Aims to create jobs in rural areas by supporting small businesses.
      • Swarnajayanti Gram Swarozgar Yojana (SGSY): Helps poor families through bank credit and government support to start small businesses.
      • Pradhan Mantri Gramodaya Yojana (PMGY): Provides funds for basic services like health, education, and rural infrastructure.
    • Challenges in Implementation: Although these schemes aim to help, poor implementation and overlapping schemes have reduced their effectiveness.
  4. Future Challenges:
    • Disparities: Poverty is worse in rural areas and in some states, and certain groups (like women and lower castes) are more vulnerable.
    • Economic Growth and Education: More economic growth, free education for all, and lower population growth can help reduce poverty.
    • Human Poverty vs. Income Poverty: Poverty is not just about income. It’s also about lack of education, healthcare, job security, dignity, and freedom from discrimination.
    • Evolving Poverty: As societies develop, the definition of poverty changes. We need to not only focus on income but also provide access to education, healthcare, jobs, and gender equality.

Key Takeaways:

  • Economic growth is important but may not always benefit the poor unless targeted programmes are in place.
  • Education and women’s empowerment are key to reducing poverty.
  • The goal should be to ensure everyone has access to basic needs and dignity, not just income.

THESE ALL ARE THE NOTES OF CHAPTER 3 ECONOMICS. AND AFTER SOME TIME YOU GET IMPORTANT QUESTIONS HERE. *#THANKS FOR VISITING, VISIT AGAIN#* 😊