Economic expansion reduces poverty by creating employment opportunities and making anti-poverty programs fiscally feasible
THERE can be little hope of making a major dent in poverty in low-income countries—many of them in South Asia and Africa—without sustained rapid growth. Rapid growth provides gainful employment to many while generating swiftly rising tax revenues to finance anti-poverty programs. Critics assert that growth barely trickles down to the poor, ignoring the reality that without it, low-income countries would lack fiscal resources for redistribution on a sustained basis.
Poverty alleviation has been a top priority for Indian leaders since the launch of the country’s development program in 1950. Yet, for decades, India’s anti-poverty programs were grossly underfunded because the country was poor and grew very slowly.
See full Press Release.
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