Poverty is really a condition in which people don’t have the means to pay for basic human needs such as nutrition, health care, education, food, clothing and shelter. Poverty is one of the biggest problems in the world is facing nowadays. In spite of each of the progress but the problem of poverty hasn’t been eliminated. Still an excellent segment of this world is living below lower poverty line. The most distressing feature individuals social system is we have at present, great disparities in incomes in addition to lifestyles, on one hand we’ve millionaires and billionaires, however, we have teeming millions who is going to not make both ends meet and also a weak economic condition with the rising prices involving essential commodities, their earnings are further shrinking. Most significant reasons regarding poverty is actually illiteracy. World has moved fast over the last some years but still illiterates are unable to keep pace with the globe as they are not able to find jobs. Even if they will find one, its not enough for them to earn enough for themselves and for their families, they are unable to end the hunger of their children. They have in order to lead a marginal as well as miserable life. They are usually economically weak. Corruption can also be a factor upto some extent for the growing lower income.
Through poverty we generally mean a situation in which a person fails to generate income sufficient to purchase his bare means of subsistence. A poor man is one who doesn’t need command over the basic needs of life like enough food, clothing, waters and shelter on the actual material level. On the non material level a poor man is deprived associated with basic social needs like health and education.
About three broad concepts of poverty may be identified. Poverty can be defined as subsistence, inequality and externality. But poverty is principally viewed in two ways absolute and relative. In absolute sense, poverty pertains to subsistence. This would mean absence of the minimum physical quantities of food necessary for an individual daily. Consumers are considered poor if they forget to attain minimum standard regarding consumption and nutrition necessary for their bare existence.
Absolute poverty might be measured through income levels. Besides, progress in health insurance and nutrition, literacy levels, utilization of essential goods and products and services etc. may indicate the amount of absolute poverty also. Therefore, it relates to the minimum standard of lifestyle. This may be expressed with regard to income or consumption spending.
Comparable poverty means difference inside the relative standard if living from the people. It stands for your large inequalities of income and wealth. In short, it relates to inequality in the degree of living. It is because of mal distribution of countrywide income. Some people are regarding high income group and many are of low income group. That’s why the later are relatively poorer as opposed to former. This relative poverty is found in all the countries, developing and developed about. In developing country like South Asia, we are mostly related to absolute poverty. Absolute poverty has been expressed with regard to minimum calories intake as well as recommended nutritional requirements.