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Banking Term: Poverty Line

Find important banking term that is useful in upcoming banking exam.

Apr 23, 2015 13:28 IST
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Banking Term: Poverty Line

  • People living below the barest desirable nutritional standards of a daily calorie intake of 2400 calories per person in rural and 2100 calories per person in urban area said to be living below the poverty line.
  • In 1980, the Planning Commission in its sixth Five year Plan document defined poverty line on the basis of nutritional standards.
  • The daily per capita expenditure is pegged at 32 rupees for the rural poor and at 47 rupees for the urban poor.
  • Poverty line based on the average monthly per capita expenditure is pegged at 972 rupees for rural India and 1407 rupees for urban India.
  • The all-India poverty line in terms of consumption expenditure for a family of five is estimated at 4760 rupees per month in rural areas and 7035 rupees per month in urban areas in 2011-12.

 

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