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LATEST NEWS UPDATES | Driving the poor man's ascension into a progressive state from a poverty-stricken one -Sandeep Vempati

Driving the poor man's ascension into a progressive state from a poverty-stricken one -Sandeep Vempati

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published Published on Apr 16, 2019   modified Modified on Apr 16, 2019
-Financial Express

If ever there was a beautiful word in Indian polity, it shall be none other than ‘poverty’. Existence of poverty, the necessary evil, ensured the Congress and various regional parties win elections after elections through rhetoric, albeit repeatedly but in different forms, and finding a page on their election manifestos. Did any of the ideologically opposite previous dispensations ever knocked the door of the poor man for eliminating the poverty surrounding him and subsequent economic engagement.

Poverty was around 66% when the British left India, and the population during the time was 330 million. By 2011-12, the poverty level has been reduced to 29.5%, or 363 million people in absolute terms. More number of people lived in poverty in 2011-12 than the population of India during Independence.

There are multiple definitions on poverty from academicians, economists, governmental and international agencies. The one from the UN Committee on Economic, Social and Cultural Rights is comprehensive. It defines poverty as a human condition characterised by sustained or chronic deprivation of the resources, capabilities, choices, security and power necessary for the enjoyment of an adequate standard of living and other civil, cultural, economic, political and social rights. Fortunately, all the definitions on poverty converge on upholding human rights.

A compassionate Narendra Modi set forth his journey of comprehensive development of the poor beginning with a call for banking the unbanked on August 15, 2014—popularly known as the Pradhan Mantri Jan Dhan Yojana (PMJDY). So far, 344.3 million PMJDY accounts have been opened along with inbuilt accidental cover of Rs 1 lakh and a life cover of Rs 30,000. Significant reduction in percentage of zero balance and inoperative accounts and increase in average balance is a testimony to its intent—financial inclusion as a precursor to poverty elimination.

The poor have the first charge on the exchequer and right to receive penny for penny transferred. The Modi government accomplished this through direct benefit transfer linking bank accounts with Aadhaar. Thus, fake beneficiaries, middlemen eliminated and Rs 90,000 crore saved. On a parallel track, 1.25 crore houses were built for the poor in comparison to 25 lakh houses in the last four years of the UPA. Moving from shelter to sanitation, 9 crore toilets improved the rural sanitation coverage from a mere 40% in 2014 to 98%.

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Financial Express, 12 April, 2019, https://www.financialexpress.com/opinion/driving-the-poor-mans-ascension-into-a-progressive-state-from-a-poverty-stricken-one/1545610/


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