Minimum requirement for human to live

"poverty" A SUBJECT

Minimum requirement for human to live

Minimum requirement of human to live with small family of 4 members based on recent local retail shops price structure of commodities in village and citiy.

URBAN PERSONS MINIMUM REQUIREMENT:

Cereals 2kg Rs.22/-, Vegetable mix ½ kg and lentil- Rs.13/-, spices 50gms oil 50gmsRs.8.00 = Rs. 43/-
Sugar 100gms- Rs.3/-, Tea 40gms- Rs.8/-, Milk ½ kg- Rs.7/- = Rs.16.50
Cooking Fuel = Rs 10/-
Electricity and water = Rs. 8/-
Bath- washing and tooth paste = Rs. 2.50
Transportation expenses = Rs. 10/-
Clothing expenses Averaged on annual expenses = Rs. 6/-
Home and kitchen maintenance averaged on annual expense= Rs 5/-
Children/ school and other related expenses = Rs. 4/-
Medical and other expenses averaged on annual expense= Rs. 3.50

Total is Rs. 108.50 divided by Rs. 45/- = US$ 2.41. Surviving in the income below this is difficult in urban towns. (Earning below this may be in below poverty line)

RURAL PERSONS MINIMUM REQUIREMENT:

Cereals 2 ½ kg Rs.20/- (Rural people eat more than urban as they incur more hardship and digestive capacity), Vegetable mix ½ kg and lentil- Rs.10/-, spices 60gms oil 60gmsRs.10.00 = Rs. 40/-

Sugar 100gms- Rs.2/-, Tea 40gms- Rs.7/-, Milk ½ kg- Rs.6/- = Rs.15.50
Cooking Fuel = Rs 5/-
Bath- washing and tooth paste = Rs. 2.50
Transportation expenses = Rs. 6/-
Clothing expenses Averaged on annual expenses = Rs. 5/-
Home and kitchen maintenance averaged on annual expense= Rs 2/-
Children/ school and other related expenses = Rs. 3/-
Medical and other expenses averaged on annual expense= Rs. 2.00

Total is Rs. 81.00 divided by Rs. 45/- = US$ 1.80. Surviving in the income below this is difficult in rural villages (earning below this may be in below poverty line)

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Economic and financial crisis - Any economic crisis or promotion is determined by the individuals of a country who buy and sell commodities or services. Country’s growth is based on the power of its individuals. Simply scaling down of inflation index or GDP growth on paper does not help real evaluation of actual growth of any economy. Inflation indexed increase or decrease is only to satisfy regulators themselves but for normal citizen it is the price of vegetable, cereal or any essential commodity that matters which practically rose by 200-300% whereas the inflation index indicates opposite to it or minor increase. (WPI) there is also variation of wholesale price and final price what a citizen pays for commodity, to get correct inflation figure retail price of the commodity that matters (CPI). Normal human has nothing to do with any high valued industrial commodities so inflation index need to classify essential and non essential commodity. Similarly, GDP growth indication too fails in countries where 50% of rural citizens are unemployed or semi-employed. Actual GDP grows when major portion of working population is engaged in production present industrial growth is beneficial to only limited nearly 5 to 10% of total population. A present economic indication criterion is totally baseless for a country which has among the largest poorest living population in the world.

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