On the evening of 8th November 2016, Prime Minister Narendra Modi made an unprec

edented speech on national television which opened the floodgates of Facebook me

mes and WhatsApp jokes before making way for more serious discussions.
All currency notes of denominations Rs. 500 and Rs. 1000 were to lose legal sanc
tion from midnight. While currency notes of Rs. 500 are now to be re-issued, Rs.
1000 currency notes will be completely done away with. Additionally, technologi
cally advanced currency notes of denomination Rs. 500 and Rs. 2000 will be intro
duced in limited numbers from November 10. However, all notes in lower denominat
ion will remain unaffected.
The objective is to curb black money, corruption and terrorism.
In his 40-minute address, Modi said that notes of Rs. 500 and Rs. 1000 would mer
ely be just worthless pieces of paper . Modi talked about how India has become the b
right spot in the global economy and the government s dedication to fight against p
overty and initiatives towards participation of the poor in the benefits of econ
omic progress.
The Reserve Bank of India, later in its press conference, said that India remain
s a cash based economy hence the circulation of Fake Indian Currency Notes conti
nues to be a menace. In order to contain the rising incidence of fake notes and
black money, the scheme to withdraw these currency notes has been introduced.
Several impacts of this decision can be ascertained.
Although people with black money obviously stands the most affected, there are s
everal implications that have to be faced by the average middle class person, fa
rmers, banks and the economy as a whole.
Although there will be an apparent inconvenience to the common man iniEssay on P
overty in India: Causes, Effects and Solutions
On January 29, 2014 By Vikash Pathak
Category: Essays, Paragraphs and Articles
Poverty in India
Introduction: Poverty refers to a situation when people are deprived of basic ne
cessities of life. It is often characterized by inadequacy of food, shelter and
clothes. In other words, poverty refers to a state of privation where there is a
lack of essential needs for subsistence.
India is one of the poorest countries in the world. Many Indian people do not ge
t two meals a day. They do not have good houses to live in. Their children do no
t get proper schooling.

Poor people are the depressed and deprived class. They do not get proper nutriti
on and diet. Their conditions have not sufficiently improved even long after ove
r 65 years of our Independence.
Poverty in urban India: Just like most of the growing and developing countries,
there has been continuous increase in Urban population.
Poor people migrate from rural areas to cities and towns in search of employment
/financial activity.
The income of more than 8 crore urban people is estimated to fall below poverty
line (BPL).
In addition to this, there are around 4.5 crore urban people whose income level

is on borderline of poverty level.

A income of urban poors is highly unstable. A large number of them are either ca
sual workers or self-employed.
Banks and Financial institutions are reluctant to provide them loan because of t
he unstable income.
Five states that constitutes around 40% of all urban poor people of India are Ut
tar Pradesh, Bihar, Rajasthan, Odisha, and Madhya Pradesh.
Around 35% of the total population of the four metro cities (Delhi, Kolkata, Che
nnai and Mumbai) consists of slum population.
A large portion of people living in slums are illiterate.
The initiatives taken to deal with the problem of urban poverty has not yielded
the desired results.