Poverty Financial News

Bolivia’s embattled president has announced the discovery of vast natural gas reserves just north of the capital, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production

At the heart of JD Vance’s journey from venture capitalist to vice presidential candidate is a memoir he first thought of in law school, “Hillbilly Elegy.”

India’s economy is now forecast to expand 7%, up from the 6.8% the IMF had projected in April, in part because of stronger consumer spending in rural areas. Overall, the IMF said Tuesday that it still expects the world economy to grow a lackluster 3.2% this year, unchanged from its previous forecast in April and down a tick from 3.3% growth in 2023. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8% a year.

But with her husband gone, eliminating his wages as a server, she was forced to earn money. She took a job at a nearby factory run by a company called All Time Plastics in Silvassa, a city about 100 miles north of Mumbai. A dozen years later, she is still there, plucking newly molded food storage containers and other household implements off a conveyor belt, labeling them and placing them in cartons bound for kitchens as far away as Los Angeles and London. Pawar earns about 12,000 rupees per month (about $150), a meager sum by global standards. Yet those wages have allowed her to keep her daughter in high school while transforming their everyday lives.

I recently spent ten days in the United Kingdom, driving through the English countryside and occasionally giving lectures. My journey included visits to historical landmarks like the majestic Durham Cathedral, completed in 1133 CE, and the little village in Lincolnshire where Isaac Newton was born. But I also saw, in London and across the country, signs of urban decay and neglect, as well as homelessness, poverty and despair.

The open sewer runs straight for 10 kilometres. In a gorge about 8 metres deep and 50 metres wide, with sides sloping such that 20 metres of its width in the middle is flat. The 6-metre-wide sewer is in the middle of this flat stretch.

Blackpink rapper Lisa will join the Global Citizen Festival lineup in New York’s Central Park for her first solo performance at a festival, the anti-poverty nonprofit announced Tuesday

How many people actually know about the NSS?: While everyone knows about the Census, the NSS seems to be largely mentioned only in circles of statisticians and researchers, and we hear of it when reports are released or when the veracity of public data-sets is questioned. More than the data itself, let me draw attention to the NSS region framework that rarely gets discussed.

Mint looks at issues surrounding poverty measurement and the need for having a more modern model. Poverty is measured by first arriving at a poverty line, the minimum level of income required to buy bare minimum necessities and then identifying those who fall below it by looking at household consumption surveys. The poverty threshold varies from country to country according to people’s social and economic conditions.

JP Nadda on Monday wrote to Congress President Mallikarjun Kharge, questioning the «stoic silence» of his party on the recent hooch tragedy which left several people dead in Tamil Nadu. Tamil Nadu hooch tragedy was entirely a «man-made disaster», Nadda said in his letter to Kharge, adding «perhaps if the deep nexus between the ruling DMK-INDI alliance dispensation and illicit liquor mafia did not exist today, 56 lives could have been saved.» Nadda said the ghastly images of burning funeral pyres from Karunapuram village in Kallakurichi in the aftermath of Tamil Nadu's «worst ever' spurious liquor consumption tragedy, that has left 56 dead until now and almost 159 persons hospitalised, has shaken the conscience of the entire nation.»

Punjab farmers have also reiterated their demand for farm debt waiver from the central government. The Telangana government has said that the scheme is set to benefit nearly 40 lakh farmers. However, it has stated that the farm loans provide temporary relief to farmers and is not a long-term solution to agrarian distress. With Telangana government waiving farm loan, Punjab farmers have sought a similar demand.

Labour Force Survey (PLFS) from quarterly urban unemployment data to monthly, and the quarterly release of the rural employment data, which is released annually at present. Revision of the base year of gross domestic product (GDP) and inflation is also being discussed, officials said. The ministry of statistics and programme implementation (MoSPI) is looking at ways to use technology to make the process more efficient and faster as it aims to reduce time lags and improve the frequency of data availability. “We are trying to reduce the time period between surveys…some can be made quarterly and monthly going ahead which are annual right now,” said Saurabh Garg, secretary, MoSPI at the data user workshop on Household Consumption Expenditure Surveys (HCES) for 2022-23 Wednesday. As per the survey, consumption inequality has declined over the last decade with the share of top 10% households in consumption declining.

Post Malone and Doja Cat, two of pop music’s biggest stars, will headline this year’s Global Citizen Festival in New York’s Central Park on Sept. 28, as organizers focus on mobilizing young people to help address the world’s pressing problems

₹20,000 crore to about 100 million farmers. This was probably a way to convey to India’s poor that contrary to what they may have thought, they were his priority. Indian elections are often the revenge of the poor.

The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and back economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country

Today’s lending methods make it challenging for financial institutions to strike a balance between profit and social responsibility. On the one hand, lending for profit is vital for businesses, whereas lending for social good benefits communities.

A widespread power outage has hit Puerto Rico and left more than 340,000 customers without electricity after two of the U.S. territory’s power plants shut down

redistribution, or dial up its focus on boosting infrastructure investment and maintaining tax incentives to encourage private investment.

India’s ministry of statistics and programme implementation (Mospi) recently released a full report on the results of the Household Consumer Expenditure Survey (HCES) along with unit-level data. A factsheet highlighting some key results had been released earlier this year. This survey has made a number of changes in methodology, which has caused some confusion among the commentariat.

Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country's civil war increasingly disrupts trade and livelihoods

Towns in central and southern Puerto Rico are struggling to emerge from a prolonged power outage that has forced authorities in the U.S. territory to activate an emergency response team