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Economics Poverty and Unemployment by Danish Chandra.pptx

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Economics Poverty and Unemployment by Danish Chandra.pptx

  1. 1. POVERTY AND UNEMPLOYMENT
  2. 2. Poverty • Poverty is a situation where people experience the lack or scarcity of specific things that are necessary for survival such as material things or money. Therefore, poverty is a mixed concept that includes economic and political elements.
  3. 3. Causes of poverty  CLIMATE CHANGE • The World Bank estimates that climate change has the power to push more than 100 million people into poverty over the next ten years. As it is, climate events like drought, flooding, and severe storms disproportionately impact communities already living in poverty. LACK OF EDUCATION • Most adults living in extreme poverty do not receive a quality education. And, if they have children, they’re likely passing that on to them. There are many barriers to education around the world, including a lack of money for uniforms and books or a cultural bias against girls’ education.  HUNGER, MALNUTRITION, AND STUNTING • Adults who were stunted as children earn, on average, 22% less than those who weren’t stunted. In Ethiopia, stunting contributes to GDP losses as high as 16%. LITTLE (OR ZERO) ACCESS TO CLEAN WATER, SANITATION, AND HYGIENE • Currently, more than 2 billion people don’t have access to clean water at home. This means that people collectively spend 200 million hours every day walking long distances to fetch water. Contaminated water can also lead to a host of waterborne diseases, ranging from the chronic to the life-threatening.
  4. 4. Effects of poverty • Poverty is linked with negative conditions such as substandard housing, homelessness, inadequate nutrition and food insecurity, inadequate child care, lack of access to health care, unsafe neighborhoods, and under resourced schools which adversely impact our nation’s children.
  5. 5. Poverty Line • The poverty threshold, poverty limit, poverty line or breadline, is the minimum level of income deemed adequate in a particular country. The poverty line is usually calculated by finding the total cost of all the essential resources that an average human adult consumes in one year.
  6. 6. Global Multidimensional Poverty Index 2021 – Key Findings • 1.3 billion people across 109 countries live in acute multidimensional poverty. • Out of 1.3 billion people, 644 million are children (below the age of 18); whereas 105 million people are old (above the age of 60). • Nearly, 85 percent of multidimensionally poor people live in Saharan Africa or South Asia. • 84 percent of these poor people live in rural areas. • 67 percent and more of the total multidimensionally poor population, live in middle-income countries.
  7. 7. Types of poverty • Relative poverty is when households receive 50% less than average household incomes, so they do have some money but still not enough money to afford anything above the basics. This type of poverty is, on the other hand, changeable depending on the economic growth of the country. • Absolute poverty is when household income is below a certain level, which makes it impossible for the person or family to meet basic needs of life including food, shelter, safe drinking water, education, healthcare, etc.
  8. 8. Impact Of Covid On Poverty
  9. 9. Unemployment • Unemployment is a situation when a person actively searches for a job and is unable to find work. Unemployment indicates the health of the economy. • The unemployment rate is the most frequent measure of unemployment. The unemployment rate is the number of people unemployed divided by the working population or people working under labour force. • Unemployment rate = (Unemployed Workers / Total labour force) × 100
  10. 10. Causes of Unemployment • Large population. • Lack of vocational skills or low educational levels of the working population. • Labour-intensive sectors suffering from the slowdown in private investment particularly after demonetization • The low productivity in the agriculture sector plus the lack of alternative opportunities for agricultural workers that makes transition among the three sectors difficult. • Legal complexities, Inadequate state support, low infrastructural, financial and market linkages to small businesses making such enterprises unviable with cost and compliance overruns. • Inadequate growth of infrastructure and low investments in the manufacturing sector, hence restricting the employment potential of the secondary sector.
  11. 11. Impact Of Unemployment • The government suffers extra borrowing burden because unemployment causes a decrease in the production and less consumption of goods and services by the people. • Unemployment affects the economy of the country as the workforce that could have been gainfully employed to generate resources actually gets dependent on the remaining working population, thus escalating socio- economic costs for the state. For instance, a 1 % increase in unemployment reduces the GDP by 2 %. • It is often seen that unemployed people end up getting addicted to drugs and alcohol or attempts suicide, leading to losses to the human resources of the country. • Unemployed persons can easily be enticed by antisocial elements. This makes them lose faith in the democratic values of the country.
  12. 12. Some Facts on Unemployment • The unemployment rate in India, amidst lockdown and restrictions on mobility, is 12.81% as of June 8th 2021 based on the data provided by the CMIE. Earlier, the unemployment rate in India shot up from 6.5 per cent in March 2021 to 8 per cent in April 2021, to 14.7% by May end, while the employment rate fell from 37.6 per cent in March to 36.8 per cent in April, says the report of CMIE – Centre For Monitoring Indian Economy. • In 2020, the unemployment rate in India fell to 7% in September 2020 from the record high of 29% since the country went into lockdown from March 2020, However, it later increased to 9.1% in December 2020. • The unemployment rate again declined to 6.5 per cent in January 2021 from 9.1 per cent in December 2020, while the employment rate surged to 37.9 per cent as compared to 36.9 per cent. • The lockdown to contain the coronavirus outbreak has forced many industries to shut down thus increasing unemployment across the country. • The unemployment in India stood at 6.1% in the financial year 2018 mentions the NSSO – National Sample Survey Organization Report 2019.
  13. 13. Conclusion Many schemes has been introduced by government of India to alleviate the problem of poverty and unemployment:- • Sapoorna Grameen Rozgar Yojana • Rural Employment Generation Programme (REGP) • Prime Minister’s Rozgar Yojana If we implement these schemes effectively and efficiently in rural areas we can overcome the problem of poverty and unemployment.
  14. 14. DANISH CHANDRA SECTION -‘N’

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