Poverty Rate of India in 2021
Rapid Population Growth:
- India's population has been rising over the years.
- In the last 45 years, it has increased at a pace of 2.2% annually, with an ordinary 17 million people increasing the annual population.
- Additionally, this significantly raises the demand for consumer products.
Low Agriculture Productivity:
- The agriculture industry's low productivity is a significant contributor to poverty.
- Low productivity might have many causes.
- It is primarily due to fragmented and subdivided landholdings, a lack of funding, ignorance of modern farming technologies, the employment of conventional farming practices, waste during storage, etc.
- The country has underemployment and covert unemployment, particularly in the farming sector.
- Low agricultural output and a decline in living standards result from this.
- India has had slow economic growth, and there is a discrepancy between the demand for and supply of products and services.
Lack of Capital and Capable Entrepreneurship:
- It is more challenging to enhance output due to a lack of capital and entrepreneurship.
- Social issues hamper the elimination of poverty in India and economic and commercial ones.
- The caste structure, certain traditions, and inheritance rules are some obstacles in this area.
What is the poverty rate of India in 2021?
According to the most recent studies, the poverty rate of India in 2021 is estimated, and 23 crore people in India make less than Rs 375 daily.