what is the definition of poor in india
Poverty in India There are several definitions of poverty, and scholars disagree as to which definition is appropriate for India.[27][28] Inside India, both income-based poverty definition and consumption-based poverty statistics are in use.[29] Outside India, the World Bank and institutions of the United Nations use a broader definition to compare poverty among nations, including India, based on purchasing power parity (PPP), as well as nominal relative basis.[30][31] Each state in India has its own poverty threshold to determine how many people are below its poverty line and to reflect regional economic conditions. These differences in definition yield a complex and conflicting picture about poverty in India, both internally and when compared to other developing countries of the world.[2]
Economy of India In response, the Narasimha Rao government, including Finance Minister Manmohan Singh, initiated economic reforms in 1991. The reforms did away with the Licence Raj, reduced tariffs and interest rates and ended many public monopolies, allowing automatic approval of foreign direct investment in many sectors.[136] Since then, the overall thrust of liberalisation has remained the same, although no government has tried to take on powerful lobbies such as trade unions and farmers, on contentious issues such as reforming labour laws and reducing agricultural subsidies.[137] By the turn of the 21st century, India had progressed towards a free-market economy, with a substantial reduction in state control of the economy and increased financial liberalisation.[138] This has been accompanied by increases in life expectancy, literacy rates and food security, although urban residents have benefited more than rural residents.[139]