Class 9 Economics Chapter 3 | Causes of Poverty - Poverty as a Challenge

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✅ In this video,

✔️ Class: 9th
✔️ Subject: Economics
✔️ Chapter: Poverty as a Challenge
✔️ Topic Name: Causes of Poverty
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Points covered in this video:-
There were a number of causes for the widespread poverty in India
Low level of economic development under the British colonial administration.
Declined in the traditional handicraft and Indian industries were discouraged.
Jobs declined = Unemployment
Fruits of green revolution was limited to some parts of India only.
Migration to cities and low level of living standard.
Industries failed to provide job.
People migrated and started doing organised job.
Huge income inequalities is the another reason of poverty.
Socio-Culture and economic factors are also responsible for poverty.
In order to fulfil social obligations and observe religious ceremonies, people in India, including the very poor, spend a lot of money.
Small farmers need money to buy agricultural inputs like seeds, fertilizer, pesticides etc. Since poor people hardly have any savings, they borrow.
Unable to repay because of poverty, they become victims of indebtedness.
So the high level of indebtedness is both the cause and effect of poverty. .

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