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What is Purchase Price? What is Switch? What is STP? What is SWP? Can non-resident Indians NRIs invest in mutual funds? Show Me More. Email Address. Mobile Number. What City are you located in? Get in Touch with me. How Can we help? How do I invest? How do I create a folio? What are the documents required for creating an online folio? Can non-individual investors create a login? Can HUFs create a login? Can I create a joint account online? Can I create a minor account online? Can I create an NRI account online? How can I access my folio online? How can I check the market value of my investments? How can I download an account statement? How do I redeem? How do I switch? What are the Investment Modes Available? How do I change the Bank details in the Folio?
How do I add an additional bank account to my folio? How do I update my address? What are the transactions that I can do online? How can I be sure my transaction is successful? I just made an online purchase, when will units get allotted? Why are all units not available for transaction? The basic needs approach is one of the major approaches to the measurement of absolute poverty in developing countries. It attempts to define the absolute minimum resources necessary for long-term physical well-being , usually in terms of consumption goods.
The poverty line is then defined as the amount of income required to satisfy those needs. The 'basic needs' approach was introduced by the International Labour Organization's World Employment Conference in The basic needs approach to development was endorsed by governments and workers' and employers' organizations from all over the world. It influenced the programmes and policies of major multilateral and bilateral development agencies, and was the precursor to the human development approach.
A traditional list of immediate "basic needs" is food including water , shelter, and clothing. Different agencies use different lists. According to a UN declaration that resulted from the World Summit on Social Development in Copenhagen in , absolute poverty is "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education, and information. It depends not only on income, but also on access to services. David Gordon's paper, "Indicators of Poverty and Hunger", for the United Nations, further defines absolute poverty as the absence of any two of the following eight basic needs: .
In , Ghai investigated the literature that criticized the basic needs approach. Critics argued that the basic needs approach lacked scientific rigour; it was consumption-oriented and antigrowth. Some considered it to be "a recipe for perpetuating economic backwardness" and for giving the impression "that poverty elimination is all too easy". In the development discourse, the basic needs model focuses on the measurement of what is believed to be an eradicable level of poverty. Relative poverty measurements unlike absolute poverty measurements take the social economic environment of the people observed into consideration.
Thus, it can vary greatly from country to country even after adjusting for purchasing power standards PPS. For practical purposes, the problem of poverty in the industrialized nations today is a problem of relative poverty page 9. However, some [ who? For example, if everyone in a country's income doubled, it would not reduce the amount of 'relative poverty' at all.
In , Adam Smith argued that poverty is the inability to afford "not only the commodities which are indispensably necessary for the support of life, but whatever the custom of the country renders it indecent for creditable people, even of the lowest order, to be without. In , John Kenneth Galbraith argued, "People are poverty stricken when their income, even if adequate for survival, falls markedly behind that of their community. In , in a joint committee economic President's report in the United States, Republicans endorsed the concept of relative poverty: "No objective definition of poverty exists.
The definition varies from place to place and time to time. In America as our standard of living rises, so does our idea of what is substandard. In , Rose Friedman argued for the use of relative poverty claiming that the definition of poverty changes with general living standards. Those labelled as poor in , would have had "a higher standard of living than many labelled not poor" in In , American economist Victor Fuchs proposed that "we define as poor any family whose income is less than one-half the median family income. In , British sociologist, Peter Townsend published his famous definition: "individuals Brian Nolan and Christopher T.
Whelan of the Economic and Social Research Institute ESRI in Ireland explained that "poverty has to be seen in terms of the standard of living of the society in question. A measure of relative poverty defines "poverty" as being below some relative poverty threshold. The term relative poverty can also be used in a different sense to mean "moderate poverty" — for example, a standard of living or level of income that is high enough to satisfy basic needs like water , food , clothing , housing, and basic health care , but still significantly lower than that of the majority of the population under consideration. An example of this could be a person living in poor conditions or squalid housing in a high crime area of a developed country and struggling to pay their bills every month due to low wages, debt or unemployment.
While this person still benefits from the infrastructure of the developed country, they still endure a less than ideal lifestyle compared to their more affluent countrymen or even the more affluent individuals in less developed countries who have lower living costs. Living Income refers to the income needed to afford a decent standard of living in the place one lives. The distinguishing feature between a living income and the poverty line is the concept of decency, wherein people thrive, not only survive.
Based on years of stakeholder dialogue and expert consultations, the Living Income Community of Practice, an open learning community, established the formal definition of living income drawing on the work of Richard and Martha Anker, who co-authored "Living Wages Around the World: Manual for Measurement". They define a living income as: . The net annual income required for a household in a particular place to afford a decent standard of living for all members of that household. Elements of a decent standard of living include food, water, housing, education, healthcare, transport, clothing, and other essential needs including provision for unexpected events. Like the poverty line calculation, using a single global monetary calculation for Living Income is problematic when applied worldwide.
The World Bank notes that poverty and standard of living can be measured by social perception as well, and found that in , roughly one-third of the world's population was considered poor in relation to their particular society. An outdated or flawed poverty measure is an obstacle for policymakers, researchers and academics trying to find solutions to the problem of poverty. This has implications for people. The federal poverty line is used by dozens of federal, state, and local agencies, as well as several private organizations and charities, to decide who needs assistance. The assistance can take many forms, but it is often difficult to put in place any type of aid without measurements which provide data.
In a rapidly evolving economic climate, poverty assessment often aids developed countries in determining the efficacy of their programs and guiding their development strategy. In addition, by measuring poverty one receives knowledge of which poverty reduction strategies work and which do not,  helping to evaluate different projects, policies and institutions. To a large extent, measuring the poor and having strategies to do so keep the poor on the agenda, making the problem of political and moral concern. It is hard to have exact number for poverty, as much data is collected through interviews, meaning income that is reported to the interviewer must be taken at face value.
In addition, if the data were correct and accurate, it would still not mean serving as an adequate measure of the living standards, the well-being or economic position of a given family or household. Research done by Haughton and Khandker  finds that there is no ideal measure of well-being, arguing that all measures of poverty are imperfect. That is not to say that measuring poverty should be avoided; rather, all indicators of poverty should be approached with caution, and questions about how they are formulated should be raised.
As a result, depending on the indicator of economic status used, an estimate of who is disadvantaged, which groups have the highest poverty rates, and the nation's progress against poverty varies significantly. Hence, this can mean that defining poverty is not just a matter of measuring things accurately, but it also necessitates fundamental social judgments, many of which have moral implications. National estimates are based on population-weighted subgroup estimates from household surveys. Definitions of the poverty line do vary considerably among nations.
For example, rich nations generally employ more generous standards of poverty than poor nations. Even among rich nations, the standards differ greatly. Thus, the numbers are not comparable among countries. Even when nations do use the same method, some issues may remain. India's official poverty level as of [update] is split according to rural versus urban thresholds. For urban dwellers, the poverty line is defined as living on less than As India is one of the fastest-growing economies in , poverty is on the decline in the country, with close to 44 Indians escaping extreme poverty every minute, as per the World Poverty Clock. Singapore has experienced strong economic growth over the last ten years and has consistently ranked among the world's top countries in terms of GDP per capita.
Inequality has however increased dramatically over the same time span, yet there is no official poverty line in the country. Given Singapore's high level of growth and prosperity, many believe that poverty does not exist in the country, or that domestic poverty is not comparable to global absolute poverty. Such a view persists for a selection of reasons, and since there is no official poverty line, there is no strong acknowledgement that it exists. Yet, Singapore is not considering establishing an official poverty line, with Minister for Social and Family Development Chan Chun Sing claiming it would fail to represent the magnitude and scope of problems faced by the poor.
As a result, social benefits and aids aimed at the poor would be a missed opportunity for those living right above such a line. In the United States, the poverty thresholds are updated every year by Census Bureau. The threshold in the United States are updated and used for statistical purposes. Women and children find themselves impacted by poverty more often when a part of single mother families. A minority group is defined as "a category of people who experience relative disadvantage as compared to members of a dominant social group. Living below the poverty threshold can have a major impact on a child's education.
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