Poverty Financial News

Canada has reached “a critical turning point” as the high cost of living and housing in this country push more people below the poverty line, says a report out today from Food Banks Canada.

South Africa’s African National Congress rose above politics for years

economy is cognisant of the fact that the Indian economy is on the cusp of a long-awaited takeoff, the Reserve Bank of India on Tuesday said that extreme deprivation is set to become extinct. The central bank in its monthly bulletin noted that external agencies like International Monetary Fund and the World Bank have shown considerable appreciation for the dramatic reduction in poverty seen in recent decades. The World Bank has estimated that only 12.9 per cent of the Indian population lived on $2.15 per day at the height of the Covid-19 pandemic in 2021. $2.15 is the the global benchmark for extreme poverty.

New Delhi | Kolkata: Prime Minister Narendra Modi charged the Naveen Patnaik-led BJD government in Odisha and the Mamta Banerjee-led Trinamool Congress regime in West Bengal with corruption and an extremely slow pace of growth which has kept its farmers, youth and tribals in poverty and deprivation for the last 25 years. In his election campaign in Odisha, Modi sought votes for BJP to establish a double-engine government that would lift the state from its misery.

Uttar Pradesh Chief Minister Yogi Adityanath on Saturday said that the Pakistan-Occupied Jammu and Kashmir will become part of India within six months after Prime Minister Modi is re-elected for his third term. Addressing a rally here today, CM Yogi said that Pakistan is facing difficulties in saving PoJK. «In the last 10 years, we have seen a new India. Borders have been secured, terrorism and Naxalism have been curbed. When the Mumbai blasts took place, the Congress-led UPA government used to say that the terrorists were from across the border. So what was the use of your missile then?» he said.

BJP) president JP Nadda has said that Prime Minister Narendra Modi has been referring to "mangalsutra" in his election speeches to expose «thinking in Congress on wealth redistribution» and that the UPA government had said that Muslims have the first right over the country's wealth. In an interview with ANI, Nadda said the Modi government has lifted 25 crore people out of poverty, has worked for everyone and has taken steps for the empowerment of women, farmers, the poor, Dalits and other weaker sections. He accused Congress of following policies of divide and rule and not working for the integration of society. Nadda referred to remarks of former Congress Overseas Chairperson Sam Pitroda pertaining to «redistribution of wealth» and "inheritance tax" and said he was the guru of Congress leader Rahul Gandhi.

India could become the third largest economy globally by 2027-28 if the country continues the growth momentum witnessed in the last two decades, 16th Finance Commission Chairman Arvind Panagariya said on Friday. He also said that during the last two decades, beginning 2003-4, India has ended extreme poverty. The extreme poverty, currently, is not more than 3 per cent of the total population. «Growth has been across the board because poverty does concentrate in rural areas. With overall poverty falling to low levels, extreme poverty has been conquered largely,» Panagariya said. Speaking at the CII's Annual Business Summit 2024, Panagariya said there is a problem of under-employment in the agriculture sector as a large portion of the workforce is engaged in the segment, and there is a need to move them out of the vertical to industry for faster urbanisation.

column in this paper on 27 March 2024. None of these discussions, however, examined the appropriateness of the existing methodologies for tracking poverty using consumption data. Consumption-based poverty measurement in India traces its roots to a Working Group constituted by the Planning Commission in 1962, which was subsequently re-visited and revised by a task force in 1979.

Child care has long been expensive for families, hard to find and financially precarious for day care owners and workers

The International Monetary Fund, Argentina’s biggest creditor, has agreed to release the next tranche of loans due under a bailout program

bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The IMF deal follows the completion of its review of Argentina's compliance record and confirms the next $792 million payment will become available to the government in June, reassuring markets and boosting confidence among bankers about Argentina’s prospects as it goes through its worst economic crisis in two decades.

Odisha this time as there was a buzz before polls that former allies and top parties of the state — Biju Janata Dal (BJD) and the BJP — may come together but now they are ghting to outscore each other. Elections for 21 Lok Sabha and 147 assembly seats of Odisha will be held simultaneously over four phases starting from May 13. ET takes a look at factors playing out in the state: In 2019, BJP emerged as the main challenger to BJD and won eight Lok Sabha seats. However, in the assembly polls, it was Naveen Patnaik all the way, showing that Odiyas have different preferences for different polls. In between these two players, Congress is trying hard to make space for itself.

₹12 lakh crores by doing all this... INC means 'I Need Corruption', and this is an open game of political extortion. Whatever they say inside or outside Parliament is just for money..." The recent statements by Chowdhury arrived after Prime Minister Narendra Modi recently took Adani and Ambani's names in the election rallies and asked Congress leader Rahul Gandhi why he stopped naming them in the election campaigning.

Rajnath Singh on Wednesday claimed that poverty would be completely eradicated from India in the next 10-15 years and this is 'Modi Ki guarantee'. Singh said this while addressing the BJP's 'Vijay Sankalp' rally here in the district headquarters town of Kalahandi. «Though Congress leaders beginning from Pandit Jawahar Lal Nehru to Indira Gandhi and Manmohan Singh all have promised to end poverty, all of them have failed. However, our Prime Minister Narendra Modi has started the process to end poverty,» he said. Noting that about 25 crore people have been lifted from below the poverty line during the nine years rule of Modi, the Defence minister said that this was not the claim made by the BJP, but the report of Niti Aayog. No previous government had ever done so as Modi did in the last nine years, he claimed.

Hamas chief Ismail Haniyeh discussed the ongoing Gaza ceasefire talks in separate phone calls with Egypt's intelligence chief Abbas Kamel and Qatar's Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani. A statement by the Palestinian Islamist group on Thursday said a delegation is set to visit Egypt soon for further ceasefire talks in the Gaza war. The statement added that Haniyeh had affirmed the group's «positive spirit in studying the ceasefire proposal» in the phone call with Egypt's Kamel.

A Taliban-run tourism and hotel management institute has opened its doors to students

Narendra Modi has become worried after learning that the Congress had been ahead in the first two phases of polls, AICC president Mallikarjuna Kharge said on Monday, while adding that the PM was attacking the Congress by referring to things the party never said in its manifesto. Neither the Indian Constitution nor the Congress election manifesto said all wealth would be distributed to Muslims, but Modi was saying so in sheer frustration after learning about the Congress party’s leads in the first two phases, the AICC president said, addressing rallies at Sedam, Gurmitkal and Kamalapur. The three assembly segments are part of Kalaburagi (Gulbarga) Lok Sabha seat his son-in-law Radhakrishna Doddamani was contesting from. Kalaburagi is one of the 14 constituencies in Karnataka that are going to polls on May 7. The Congress has only said the poor would get their due share and there was no mention of Hindus or Muslims in the manifesto. The Congress party, since the time of Indira Gandhi, had worked for the upliftment of poor people and battled poverty. Land reforms, bank nationalisation and programmes like NREGA, and Food Security Act were an outcome of the Congress initiatives, the 81-year old AICC leader said, wondering if Modi could claim credit for any such programme.

Mississippi Senate leaders are saying for the first time that they are willing to expand Medicaid to the full level allowed under a federal law signed 14 years ago by then-President Barack Obama

climate change is only making it worse. Now, a newly developed quantitative approach may help raise its prominence as an environmental, social and governance issue. The AI-driven tool, known as the Child Labor Index, scores companies in three areas: disclosure levels, public perception and the commodity-level exposure of the supply chain to child labor. Fund managers can use the scores to pinpoint high-risk companies and identify others that need to confront the issue. Among investors, “the level of awareness of child labor is incredibly low,” said Eleanor Harry, chief executive and founder of HACE, the UK-based startup that developed the index. “This will help them monitor risk in their portfolio.”

Economic Club of New York, Dimon highlighted PM Modi's achievements, including the extensive recognition system, widespread banking access, and significant poverty reduction initiatives. Dimon at the event said a lot of US government officials are “fantasizing... how we think they should be running their country".

Congress leader Rahul Gandhi's promise of wealth redistribution has kicked up a huge controversy. While the idea itself has been controversial — right from the bloody revolutions of the past century that promised the poor the wealth amassed by the rich to contemporary debates in economics on how to address inequality and poverty — a comment on Rahul's plan by Prime Minister Narendra Modi has brought the issue to the headlines. PM Modi alleged on Sunday that «Congress wanted to confiscate people's wealth and redistribute it to Muslims». Yesterday, adding that opposition parties had done nothing for Muslims, he reiterated his allegations, saying that the Congress was «looking to survey earnings and wealth of people, including their vehicles, property, and houses to redistribute it in line with a communist ideology that INDIA wanted to implement in the country». What did Rahul Gandhi say