Reduction in Poverty
Despite all the causes, India currently adds 40 million people to its middle class every year. Analysts such as the founder of Forecasting International, Marvin J. Cetron writes that an estimated 300 million Indians now belong to the middle class; one-third of them have emerged from poverty in the last ten years. However, this has to be seen in perspective as the population of India has increased by 370 million from 1991 and 190 million from 2001 so the absolute number of poor has increased.
Despite government initiatives, corporate social responsibility (CSR) remains low on the agenda of corporate sector. Only 10% of funding comes from individuals and corporates, and "a large part of CSR initiatives are artfully masqueraded and make it back to the balancesheet." The widening income gap between the rich and the poor over the years has raised fears of a social backlash.
Read more about this topic: Poverty In India
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