IEcoS (Economic Services) Indian Economics Poverty, Unemployment and Human Development-Estimates of Inequality and Poverty Measures for India Terms and Persons (Page 2 of 3)
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Poverty Line
Poverty line is the level of income needed to meet the minimum living conditions.
Poverty line is the amount of money needed for a person to meet his basic needs. It is defined as the money value of the goods and services needed to provide basic welfare to an individual.
In India, poverty line is defined as the income needed to obtain the set minimum standard of living. Poverty here is absolute poverty.
Poverty
According to the World Bank (2000) , “poverty is pronounced deprivation in wellbeing.” In simple terms, poverty means the inability to meet basic needs, including food, shelter, clothing, water and sanitation, education, and healthcare. According to UNDP, Poverty is the denial of opportunities.
Relative Poverty
Relative poverty is the condition in which people lack the minimum amount of income needed in order to maintain the average standard of living in the society in which they live. Relative poverty line is defined relative to some measure of welfare for the entire population. In other words, what determines relative poverty is the overall income level or standard of living in a society. A relative poverty line is set in relation to the overall distribution of income or consumption in a country/region of reference.