Capitalism in the news - India

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From The Hindu:

India lifted 271 million people out of poverty in 10 years: UN
India lifted 271 million people out of poverty between 2006 and 2016, recording the fastest reductions in the multidimensional poverty index values during the period with strong improvements in areas such as “assets, cooking fuel, sanitation and nutrition,” a report by the United Nations said.

The 2019 global Multidimensional Poverty Index (MPI) from the UN Development Programme (UNDP), the Oxford Poverty and Human Development Initiative (OPHI) was released on Thursday.

The report said that in the 101 countries studied — 31 low income, 68 middle income and 2 high income - 1.3 billion people are “multidimensionally poor”, which means that poverty is defined not simply by income, but by a number of indicators, including poor health, poor quality of work and the threat of violence.

Some numbers:

In 2005-2006, the population in India living in multidimensional poverty stood at about 640 million people (55.1%) and this reduced to 369 million people (27.9%) living in poverty in 2015-16. India saw significant reductions in number of people who are multidimensionally poor and deprived in each of the 10 indicators over this time period.

India reduced deprivation in nutrition from 44.3% in 2005-06 to 21.2% in 2015-16, child mortality dropped from 4.5% to 2.2%, people deprived of cooking fuel reduced from 52.9% to 26.2%, deprivation in sanitation from 50.4% to 24.6%, those deprived of drinking water reduced from 16.6% to 6.2 %.

Further more people gained access to electricity as deprivation was reduced from 29.1% to 8.6%, housing from 44.9% to 23.6% and assets deprivation from 37.6% to 9.5%.

Cutting the number of poor people in half in just ten years. Socialism would never do that - it requires a large central government. What we are seeing is capitalism spread throughout the entire system. The corner store, the cook with a food cart, the shoemaker getting a new sewing machine. The rising tide floats ALL boats.

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This page contains a single entry by DaveH published on July 15, 2019 2:08 PM.

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