Poverty, Deprivation, Socio-Economic Phenomenon and Deprivation of Material Requirements
Raju, Dr. Ericharla
Kumar, Baddela Chaitanya Kiran
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In the present article is the concept of poverty, concerns of poverty at global and national level and nature of poverty. Poverty is one of the important problems confronting the world at large, especially the developing countries such as India. It is a socio-economic phenomenon, where wants of a few being satisfied and basic adequacies of many are being left unmet. Poverty is a feeling of deprivation. Poverty is the depreciation of basic requirements for a decent life in that particular society. Poverty is the man’s powerful and massive affliction. The idea of the social arrangement that promotes human good was fulfill as early as Aristotle 384-322 he argued that “wealth is evidently not the good we are seeking for it is mere useful and for the sake of something else”. Immanuel Kant (1724-1804) felt that human good continued the tradition of treating the human beings as the real end of all activities. Poverty is not only a deprivation but, also a multidimensional concept, which can be economic, cultural, social or psychological. It can be partly subjective and variable over time, comprising capabilities as well as welfare and partly relative to local norms, comparisons and expectations. Measurement of poverty is a subjective phenomenon. It involves two processes namely identification and aggregation. Identification refers to identifying the poor looking at their level of personal expenditure or income that enables the individual to satisfy a certain minimum consumption level. The money value of minimum requirement was set as per capita consumption expenditure of Rs. 20/- per month for rural and Rs. 25/- per month for urban at 1960-61 prices. Poverty is one of the important problems confronting the world at large, especially the developing countries such as India.