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Economic Growth is the Best Solution to Eradicate Poverty in India

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ISFH Foundation
Economic Growth is the Best Solution to Eradicate Poverty in India

Economic growth is the major solution that helps to reduce poverty and inequality in India. The nation has the scope to benefit the poor through economic growth with welfare and development programs. During 2020-21, spending on the social sector is 8.8% of GDP. Both economic growth and inequality have nearly a relationship when considering the socio-economic factors. But in wealthy nations, these are not in a similar ratio; hence, we need to find different solutions to eradicate poverty or inequality because the increased GDP rate may not impact people's lives.

The relationship between poverty eradication and economic growth is that India has a vast scope for poverty reduction and inequality with several economic development activities. After the situations of Covid-19, these questions are rising continuously. The stages of development greatly impact the eradication of poverty; hence, India must focus on economic improvement to abolish the people from poverty.

The government is increasing its spending on the social sector due to the effect of Covid-19. The government's social expenditure costs for health and education in 2014-15 are 6.2%, increasing to 8.8%. Coming to education, these expenditures are 2.8% during 2014-15 and increased to 3.5% in 2020-21, and 1.2% to 1.5% for healthcare.

Education is the seed for any development, and there is a need to increase the education expenditure by 6% of the GDP to achieve better outcomes for the people and nation. Apart from that health expenditure also should be increased.

Roots of Poverty:

Health, income, and education are the great pillars to build the economy of a nation. Most of the schools were closed during the pandemic due to the induced restrictions. Online teaching became the only source of running the school and teaching the students. To access the online training classes, the students need a laptop, smartphone, or computer. Only 32.5% of children are continuing their education through online classes during October 2020. 11% only listen to live classes, whereas the remaining 21.5% use either recorded or video classes.

ISFH Education Mission has identified the importance of child education to enhance economic growth and develop the nation's people. The underprivileged don't have the resources and facilities to give quality education to their children. These children often don't have the opportunity to get a dignified job, and this repeats continuously to their generations. There is no development or visible growth seen in their lives, and this chronic poverty spreads to huge denominations in India. By considering the nation's development, we need to defeat poverty in India. There are multiple causes for poverty, such as deprivation of food, clothes, shelter, etc.

ISFH Poverty Eradication Mission:

Poverty is the root cause of all problems in our country. ISFH Foundation operates in 29 states of India to remove poverty from its roots by supporting the education, healthcare, hunger, clothes, and shelter needs of the poor and needy.

ISFH Foundation, derived from India Stands For Humanity. The non-profit lends support based on humanitarian causes and fights against the declined human rights for the poor. Right now, India needs strong support like never before due to the pandemic and post-pandemic effects. We must raise together to remove poverty from India by helping fellow-Indians in the hour of need. Let us support ISFH Poverty Mission to help more underprivileged and deprived.

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