What is poverty?

The correct answer is Inability to fulfill basic needs like food, clothing and shelter.

Key Points

• Poverty is the state in which an individual or community lacks the financial resources to fulfill basic needs like food, clothing, and shelter.
• This condition can lead to malnutrition, poor health, and limited access to education and other essential services.
• Poverty is often measured using the poverty line, which is an income level below which a person is considered poor.
• It affects millions of people globally, with the highest rates in developing countries.

Additional Information

• Absolute Poverty
  • Refers to a condition where household income is below a necessary level to maintain basic living standards (food, shelter, housing).
  • It is typically measured in relation to the amount of income required to meet basic needs over a period of time.
• Relative Poverty
  • This type of poverty is defined in relation to the economic status of other people in society.
  • It means that people are poor if they fall below prevailing standards of living in a given societal context.
• Poverty Alleviation Programs
  • Various government initiatives are aimed at reducing poverty, such as Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), Pradhan Mantri Awas Yojana, and others.
  • These programs focus on providing employment, improving infrastructure, and ensuring basic necessities are met.
• Causes of Poverty
  • Poverty can be caused by several factors including lack of education, unemployment, economic instability, and social inequality.
  • Natural disasters, war, and political instability can also exacerbate poverty levels.