Poverty
One-third of India's population (roughly equivalent to the entire population of the United States) lives below the poverty line and India is home to one-third of the world's poor people.
Though the high class has gained from recent positive economic developments, India suffers from substantial poverty. According to the new World Bank's estimates on poverty based on 2005 data, India has 456 million people, 41.6% of its population, living below the new international poverty line of $1.25 (PPP) per day. The world Bank further estimates that 33% of the global poor now reside in India. Moreover, India also has 828 million people, or 75.6% of the population living below $2 a day, compared to 72.2% for Sub-Saharan Africa.
Wealth distribution in India is fairly uneven, with the top 10% of income groups earning 33% of the income. Despite significant economic progress, 1/4 of the nation's population earns less than the government-specified poverty threshold of $0.40/day. Official figures estimate that 27.5% of Indians lived below the national poverty line in 2004–2005. A 2007 report by the state-run National Commission for Enterprises in the Unorganized Sector (NCEUS) found that 25% of Indians, or 236 million people, lived on less than 20 rupees per day with most working in "informal labour sector with no job or social security, living in abject poverty."
Read more about this topic: Socio-economic Issues In India, Economic Issues
Famous quotes containing the word poverty:
“Nothing incites to money-crimes like great poverty or great wealth.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
““It’s a wery remarkable circumstance, sir”, said Sam, “that poverty and oysters seems to go together.””
—Charles Dickens (1812–1870)
“Apart from their other characteristics, the outstanding thing about China’s 600 million people is that they are “poor and blank.” This may seem a bad thing, but in reality it is a good thing. Poverty gives rise to the desire for change, the desire for action and the desire for revolution. On a blank sheet of paper free from any mark, the freshest and most beautiful pictures can be painted.”
—Mao Zedong (1893–1976)