Poverty is one of the major factors badly affecting the Indian economy. It is a condition where an individual household is not even able to meet basic living requirements. It can be a result of various reasons like low wages, constant increases in prices, unemployment, lack of awareness, etc.
India has been witnessing a decline in poverty, but this has been at a very slow pace, and still, 20.8% (as of 2020) of the Population account for below-the-poverty-line families.
