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Poverty is inability to satisfy basic needs of food, clothing, shelter, education due to lack of money

It is a condition where person lacks the financial resources required for a minimum standard of living

Definition of Poverty -Ability to Satisfy Basic Needs - Teachoo.JPG

According to Scholars, Shahin Rafi Khan and Daniel Kullen:
Poverty is hunger
Poverty is being sick and not being able to see a doctor
Poverty is not being able to go to school and not knowing how to read.
Poverty is not having a job
Poverty is fear for the future, having food once in a day
Poverty is losing a child to illness, brought about by unclear water
Poverty is powerlessness, lack of representation and freedom.

What were the main objectives of India's Development Strategies?

Main Objectives were:

  1. Reducing Poverty
  2. Providing Minimum Standard of living for all
    so that Basic Needs of People are met

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What are Basic Needs of Life Food Clothing Shelter Education Health Difference Rich vs Poor Rich People They have money to afford all these easily Poor People They are not able to satisfy there basic needs due to lack of money What is Poverty? Poverty is a condition where person lacks Financial resources required to maintain a minimum standard of loving What were the Main Objectives of India’s Development Strategies Situation at the time of Independence A Large amt of population suffered from Poverty They were not able to meet their basic needs Main Objectives of India’s Development Strategy were Reducing Poverty through Economic Growth (More GDP, More Growth, More jobs) vProviding Minimum Standard of living so that Basic Needs of People are met (Provide Free Food, House,Health and Education)

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Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years and a teacher from the past 17 years. He teaches Science, Economics, Accounting and English at Teachoo