According to a new study published by the World Bank, one in three of the world’s poorest people live in India. Although other data suggests that India is the world’s second-fastest growing economy, and global poverty has seen significant reductions within the last decade, India still harbors 400 million of the world’s poorest.
Experts voiced concerns with this trend, citing that India’s economy has seen a growth rate of nine percent annually over the last few years, with the population expected to continue soaring towards 1.5 billion people by the year 2026 – which would make it the world’s most populous country.
The problem with this rapid population growth, experts say, is that India’s economy cannot seem to keep up. India would need upwards of 20 million new jobs per year just to keep pace with current levels of poverty.
The World Bank says that there are several factors to blame for this issue, including poor education, lack of adequate health care, and lack of job training. Because of a rapidly-growing economy, foreign powers have reduced their aid to India in recent years as well, with the U.S. reducing aid amounts by 16 percent and the U.K. discontinuing their aid program altogether.
– Christina Kindlon
Source: New Indian Express