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Poverty — Economics STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEconomicsPoverty4 Marks
Question
Explain the 'trickle down effect'.
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Answer

'Trickle down effect' is an economic theory that says that the growth of gross domestic product and per capita income by allowing the rich to flourish, would eventually benefit lower income groups also through increased economic activity and reduced unemployment.
It was government's approach to poverty reduction.
It was felt that rapid industrial development and transformation of agriculture through green revolution would benefit the underdeveloped regions and the backward sections of the community.

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