Economic planners are of the view that poverty could be eradicated through growth oriented approach. Discuss the measures which will help to bring growth in an economy.
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The different measures which will help to bring growth in an economy are:
- Income distribution should be improved: The government should try to improve the mechanism of income distribution and try to reduce income inequalities with the help of fiscal and legislative measures.
- Fiscal measures: These measures relate to the provisions related to taxation and subsidy. The government should adopt progressive system of taxation in which the richer section of the society is charged with higher rate of taxes and tax exemption is given to those with low incomes. Also, money collected as tax from the rich can be used to give subsidies to the poor, thus ensuring equitable distribution of income.
- Legislative measures: These measures are implemented by passing laws and are mandatory for all those who fall under its purview.
- Population control: The government should try to control the population of the country which is rising at a very fast rate. Poverty cannot be eradicated unless and until population of the country is controlled. Inspite of a significant growth in the national income of the country, the per capita income remains low due to excessive rise in population. Population control will reduce the dependent members in a poor household and help them to improve their status.
- Other measures:
- Development of agriculture and other allied activities.
- Maintaining stability in the price level.
- Eradication of unemployment.
- Promoting labour intensive technique of production.
- Developing backward regions.
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