Nirali Bhagat
ABSTRACT
This essay analyses the data for poverty between 2010 and 2019. Its purpose is to answer the question, “The development of poverty in India in the 21st century in comparison to the BRICS countries. What are the driving factors and policy implications?” The findings of the study indicate that India has faced a significant poverty crisis and still faces it to an extent in comparison with the other BRICS countries. Hence, this analysis explores the reasons behind as to why India, despite being an economically growing country, still faces issues of poverty and isn't able to eradicate it as efficiently as the mentioned countries. This study is significant in terms of how its findings are crucial for guiding policymakers in crafting effective strategies for sustainable poverty reduction and equitable development. Initially, it talks about the research conducted by other professionals in this field and then goes on to compare the statistics of the BRICS countries. The comparison was based on four indicators: Human Development Index (HDI), Gross Domestic Product (GDP), Consumer Price Index (CPI), and Labour Productivity. The paper explains the graphs developed from the data and reasons as to why such relationships were established. To sum it all up, a few suggestions were proposed towards the end as to how India can improve its poverty levels, answering the research question. For example, one of them was to implement inclusive economic policies with proper government regulation so that the issue of corruption doesn’t arise. While, another one was to promote education and skill development so that the labour force expands their skills and competencies, increasing their chances for employment.
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