Learn CBSE Economics Index Terms for Class 11, Chapter 4 Current Challenges Facing the Indian Economy
1. Poverty – Poverty is a situation where people experience the lack or scarcity of specific things that are necessary for survival, such as material things or money. Therefore, poverty is a mixed concept that includes economic and political elements.
In India, the growth of the population is one of the primary reasons for poverty. This situation leads to inadequate health care facilities, lack of access to financial resources, and a high level of illiteracy. According to the International Food Research Institute’s report for 2018, India ranks 103 in the Global Hunger Index.
2. Poverty Line – The poverty line is an estimated, imaginary line developed by economists in order to define a poor person. Using certain standard measures, the poverty line is calculated such that all poor people lie below the poverty line and anyone above the poverty line is not poor. There are several indicators used for the poverty line – expenditure, calories, income, etc., to name a few.
3. Always Poor – Always poor people are those who are always below the poverty line.
4. Usually Poor – Usually poor are those who are mostly below the poverty line but once in a while they cross the poverty line.
5. Chronic Poor – Those who are below the poverty line most of the time and reach above the poverty line once in a while are called the chronic poor. It includes people from always poor and usually poor categories.
In other words, people who are leading constant lives of poverty and who are normally poor but may have a small amount of money with them, for example, casual workers are classified collectively as the chronic poor.
6. Churning Poor – Churning poor are those who regularly move in and out of poverty. These are seasonally employed people. When they have jobs, they are above the poverty line and when they don’t have a job they are below the poverty line.
In other words, The churning poor are the people who go in and out of poverty, for example, small farmers and seasonal workers.
7. Occasionally Poor – Occasionally poor are those who are rich most of the time but sometimes, out of a business fluctuation or other mishappening, become poor.
8. Transient Poor – Those people who keep fluctuating between the category of poor and non-poor are called transient poor. It includes people from churning poor and occasionally poor categories.
In other words, the people who are well off most of the time may be subject to bad luck or difficult times at times. They are known as the transient poor.
9. Non-poor – Non-poor are the people who have never ever crossed below the poverty line.
10. Poor – A poor person is an individual who does not have the provisions or financial capabilities to fulfill the minimum essential necessities of life. Street cobblers, push-cart vendors, rag pickers, flower sellers, beggars, and vendors are some kinds of poor and weak groups in urban neighbourhoods. The poor maintain few assets and stay in kutcha huts with walls built of baked mud and roofs built of grass, bamboo, thatch, and wood. The poorest of them do not even have such homes.
In the rural areas, many of them hardly possess anything. Even if some of them own property, it is either dry or a wasteland. Several people do not get even two meals a day. Starvation and hunger are the principal characteristics of poverty-struck families. The poor tend to not possess the fundamental literacy and jobs and therefore have poor economic possibilities.
11. PMRY – Prime Minister Rozgar Yojana (PMRY) was started in 1993 with the aim of creating self-employment opportunities for educated but unemployed youths in rural areas and small towns. Under this scheme, youths are provided support so that they can set up small businesses and industries.
12. MGNREGA – Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) the Act provides 100 days of assured employment every year to every rural household. One-third of the proposed jobs would be reserved for women. The central government will also establish ‘National Employment Guarantee Funds’.
Similarly, state governments will establish ‘State Employment Guarantee Funds’ for the implementation of the scheme. Under the program, if an applicant is not provided employment within 15 days s/he will be entitled to a daily unemployment allowance.
13. Mid-Day Meal Scheme – Mid Day Meal Scheme was started in India on 15th August 1995 under the name of ‘National Programme of Nutritional Support to Primary Education (NP-NSPE)’. In October 2007, NP-NSPE was renamed as ‘National Programme of Mid-Day Meal in Schools,’ which is popularly known as the Mid-Day Meal Scheme. Recently, the Vice President of India proposed the inclusion of milk in mid-day meals for children.
14. NNM or Poshan Abhiyan – National Nutrition Mission (NNM) or Poshan Abhiyan aims to reduce the level of under-nutrition and also enhance the nutritional status of children in the country. Also, to improve the nutritional outcomes of adolescents, children, pregnant women, and lactating mothers.
15. Pradhan Mantri Gram Sadak Yojana – The central government scheme that connects villages to cities is called Pradhan Mantri Gram Sadak Yojana. It was launched on 25th December 2000, by the then Prime Minister, Atal Bihari Vajpayee. The scheme aims at reducing poverty by enhancing rural connectivity and improving access to public and socio-economic services.
16. IRDP – Integrated Rural Development Programme (IRDP) raises the families of identified target groups living below the poverty line through the development of sustainable opportunities for self-employment in the rural sector.
17. Pradhan Mantri Gramin Awaas Yojana – To create housing units for everyone along with providing 13 lakhs housing units to the rural areas. To provide loans at subsidised rates to the people. To augment wage employment opportunities to the households by providing employment on-demand and through specific guaranteed wage employment every year.
18. JGSY – Jawahar Gram Samridhi Yojana (JGSY) helps in developing the infrastructure of the rural areas which included connecting roads, schools, and hospitals. To provide sustained wage employment to the families belonging to the below poverty line.
19. NFBS – National Family Benefit Scheme (NFBS) provides a sum of Rs.20,000 to the beneficiary who will be the next head of the family after the death of its primary breadwinner.
20. Annapurna – To provide 10 kg of free food grains to eligible senior citizens who are not registered under the National Old Age Pension Scheme.
21. Food for Work Programme – It aims at enhancing food security through wage employment. Food grains are supplied to states free of cost, however, the supply of food grains from the Food Corporation of India (FCI) godowns has been slow.
22. SGRY – Sampoorna Gramin Rozgar Yojana (SGRY) the main objective of the scheme continues to be the generation of wage employment, and the creation of durable economic infrastructure in rural areas, and the provision of food and nutrition security for the poor.
23. National Food Security Mission – To increase production of rice, wheat, pulses, and coarse cereals through area expansion and productivity enhancement in a sustainable manner in the identified districts of the country.
24. National Maternity Benefit Scheme – To provide a sum of Rs.6000 to a pregnant mother who is aged above 19 years. The sum is provided normally 12–8 weeks before the birth in three instalments and can also be availed even after the death of the child.
25. PMGKY – Pradhan Mantri Garib Kalyan Yojana (PMGKY) the scheme provides an opportunity to declare unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income. An additional 25% of the undisclosed income is invested in the scheme which can be refunded after four years, without any interest.
We hope that the offered Economics Index Terms for Class 11 with respect to Chapter 4: Current Challenges Facing the Indian Economy will help you.
Related Links:
- Class 11 Economics Terms – Chapter 1: Development Policies and Experience (1947-90)
- Class 11 Economics Terms – Chapter 2: Indian Economy (1950-90)
- Class 11 Economics Terms – Chapter 3: Economic Reforms Since 1991
- Class 11 Economics Terms – Chapter 5: Human Capital Formation in India
- Class 11 Economics Terms – Chapter 6: Rural Development
- Class 11 Economics Terms – Chapter 9: Environment and Sustainable Development
- Class 11 Economics Terms – Chapter 10: Development Experiences in India: A Comparison with Neighbours.
