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In this archive story we are learning about The economy in India and its differences between rich and poor.
Read the background story of this archive photo by the photographer. |
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Despite the economic progress that India has achieved over the last few years, the disparities between the classes of people are still noticeable. In particular, there is a huge gap between the poor and the rich in India and the most apparent difference between the poor and the rich in India is the economic disparities. |
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The Indian economy
The poverty rate in India stands at almost 22 percent, which means that more than 1/5 of the population lives in absolute poverty. The economic status of the poor is so low that it is difficult for them to lead a decent life according to their standards. On the other hand, the wealthy owners own the major portion of the wealth in the country and they live extremely luxurious lives. Moreover, there is an educational disparity between the poor and the rich in India.
What is the economic condition of India in 2024?
Growth in India is projected to reach 6.2 percent in 2024, slightly lower than the 6.3 percent estimate for 2023, amid robust domestic demand and strong growth in the manufacturing and services sectors.
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Education is the key to a better life
India is one of the most populated countries in the world and the population consists of a wide range of people from different backgrounds. It is especially true in India and the education system here is highly unequal. The majority of the poor people are not able to provide their children with proper education and thus the poor children do not get access to the same level of education as the wealthy children. The poor are also deprived of the basic necessities of life. While the wealthy have access to all the luxuries and comforts, the poor are unable to even fulfill their basic needs.
Thus, there is a stark difference between the kind of amenities and luxuries that the poor and the wealthy enjoy. Last but not least, there is also a difference in the standard of living between the poor and the rich. It is quite evident that the wealthy enjoy a much higher standard of living than the poor. The quality of infrastructure in their homes and surrounding areas are also different. To sum up, there is a significant difference between the poor and the rich in India. The poor are deprived of the basic necessities of life and educational opportunities whereas the wealthy enjoy a luxurious life that only a few are able to lead.
India is one of the most populated countries in the world and the population consists of a wide range of people from different backgrounds. Despite the economic progress that India has achieved over the last few years, the disparities between the classes of people are still noticeable. In particular, there is a huge gap between the poor and the rich in India. The most apparent difference between the poor and the rich in India is the economic disparities.
Educational disparity in India
There is an educational disparity between the poor and the rich in India and education is the key to a better life and it is especially true in India. The education system here is highly unequal. As Kristian Bertel | Photography learned the majority of the poor people are not able to provide their children with proper education and thus the poor children do not get access to the same level of education as the wealthy children. The poor are also deprived of the basic necessities of life.
While the wealthy have access to all the luxuries and comforts, the poor are unable to even fulfill their basic needs. Thus, there is a stark difference between the kind of amenities and luxuries that the poor and the wealthy enjoy. Last but not least, there is also a difference in the standard of living between the poor and the rich. It is quite evident that the wealthy enjoy a much higher standard of living than the poor. The quality of infrastructure in their homes and surrounding areas are also different.
"For decades, India has been one of the most unequal countries in the world where the vast majority of the nation's population lives in poverty. While there is an ever-growing middle class, there exists a large gap between the wealthy and the poor. India's rich are affluent and visible, while the majority of the population struggles for basic necessities of life such as food, water and healthcare"
Differences between rich and poor in India
The primary differences between the rich and the poor in India are economic and educational and the wealthy have access to higher education, better healthcare and have the resources to invest in large projects to increase their wealth. The poor, on the other hand, are mainly limited to low-skilled labour and are vulnerable to exploitation and have no access to education or resources for investment. The rich in India have the means to acquire land and purchase vehicles as well as various other investments and the ability to own large properties also gives them power over the economy through land rights and ownership of businesses.
On the other hand, the poor are often denied access to education, resources and land and do not have the capacity to purchase property and vehicles or gain access to markets for opportunities. They cannot easily access facilities and services such as clean water and sanitation and are highly vulnerable to exploitation. The disparities between the rich and the poor in India have only been exacerbated by the pandemic. The wealthy have been able to weather the economic downturn better than the poor. The poor have suffered job losses, wage cuts and have been denied access to existing financial aid schemes due to red tape and exclusionary practices. The lack of economic opportunities means little to no access to affordable healthcare and a decrease in access to affordable food and clean water. While the disparities between the poor and the rich in India are noticeable, it is possible to bridge the gap with proper structural reforms.
The Government of India can implement policies to ensure equitable and inclusive development that focuses on providing basic services to the poor, creating educational opportunities and ensuring fair access to markets and financial resources. In addition, India must look to increase its social safety nets so that those most in need get the help they require. In the end, it is through strong collective action from the government and civil society that these disparities can be eliminated and a better future for all can be established.
The Indian economy is the 5th-largest in the world, with a 'GDP', which is also called 'Gross Domestic Product' that measures the monetary value of final goods and services that is, those that are bought by the final user, which is produced in a country in a given period of time for instance a quarter or a year. It counts all of the output generated within the borders of a country.
Significant investments in India
India's economy has been able to recover quickly due to its large, resilient consumer base since the pandemic. The key drivers of India's economic growth have traditionally been domestic consumption and investments. Private consumption has been the largest contributor to 'GDP', accounting for more than 60 percent of the total. Investment has also been a key source of economic growth, with both the public and private sector making significant investments in infrastructure, industrialization and social welfare programs.
Foreign investments in India
Apart from domestic consumption and investments, the Indian economy has also benefited greatly from 'Foreign Direct Investment', also knwon as the 'FDI', which has allowed for the flow of capital and technology from overseas to India, boosting the country's industry and economy. India received around $40 billion in 'FDI' during the first 4 months of 2021, demonstrating the continued appeal of investment in India. The Government of India has also implemented several measures to support economic growth and these include reducing taxes, providing incentives for businesses, increasing access to credit and introducing reforms to make the economy more open to global commerce.
The government has also taken steps to ease India's foreign investment barriers, making it easier for foreign investors to set up businesses in the country. Overall, India's economic growth has been impressive and stable in the past few years.
"With a large domestic consumer base, investment from both the public and private sector and continued foreign direct investment, India is well placed to continue its impressive growth in the years to come. For the Indian economy to succeed, it will need to ensure that the effects of the pandemic do not have a lasting impact on the country's economic development. Only then can India maintain its impressive growth trajectory and become one of the world's economic powerhouses"
The Indian economy is showing resilience
The world economic situation for the last few years has not been kind, with many countries succumbing to the pressures of recession and large-scale unemployment. India is no different and the country's economic growth has plummeted to its slowest rate in 6 years. However, in spite of this grim picture, the Indian economy is showing resilience, with several sectors demonstrating promising trends and investors remaining cautiously optimistic about the future. One of the leading beneficiaries of this growth is the humanitarian sector.
See this video about the Indian economy made by The Hindu.
Developments in the country's financial technology also promise to alleviate poverty. India has the world's largest mobile payment ecosystem, with an estimated 300 million users and the country's burgeoning fintech industry is quickly becoming a powerful tool for poverty alleviation. The situation is far from ideal and more needs to be done to tackle India's challenging economic woes. But despite the difficulties, the resilience of the country's economy and the progress being made in the philanthropic and financial technology sectors offers a glimmer of hope for a better tomorrow.
"- In recent years, the contribution of NGOs and other charitable organisations have made a difference in the lives of India's poor and marginalised communities. From access to healthcare, education and housing, to the provision of clean water, sanitation and basic utilities, India's philanthropic community has been steadfast in its commitment to uplifting India's weakest sections. This commitment has not gone unnoticed, where government support for the sector has grown significantly over the last decade", the Photographer says.
Read also: Boy in a village portraiture
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India is a land full of stories. On every street, on every corner and in the many places in India, life is rushing by you as a photographer with millions of stories to be told. In the archive story above, you hopefully had a readable insight in the story that was behind the photo of people in Delhi. On this website of Kristian Bertel | Photography you can find numerous travel pictures from the photographer. Stories and moments that tell the travel stories of how the photographer captured the specific scene that you see in the picture. The photographer's images have a story behind them, images that all are taken from around India throughout his photo journeys. The archive stories delve into Kristian's personal archive to reveal never-before-seen, including portraits and landscapes beautifully produced snapshots from various travel assignments. The archive is so-far organized into photo stories, this one included, each brought to life by narrative text and full-color photos. Together, these fascinating stories tell a story about the life in India. India, the motherland to many people around the world, a land of unforgetable travel moments. The archive takes viewers on a spectacular visual journey through some of the most stunning photographs to be found in the photographer's archive collection. The photographer culled the images to reflect the many variations on the universal theme of beauty and everyday life in India. By adding these back stories the photographer's work might immensely enhanced the understanding of the photographs.
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