In what ways do industry and business associations contribute to socio-economic development in the country? Explain with suitable examples.

The trusteeship principle of Gandhi inspired the industries and businesses to contribute to the socio-economic development of the country.

Socio-economic development by industry and business:

Challenges:

(i) Allegation of green washing and

(ii) Conditionalities of the fund often limit the impact

This statement refers to the subjective view and inconsistency in the poverty estimation.

Issues with poverty estimation framework work:

Thus, these issues demand a credible and periodically updated poverty estimation framework in the country.

Measures needed:

(1) A new poverty estimation committee → to assess the multi-dimensional criteria framework

(3) Include the changing socio-economic structures, living expenses and supplied in the poverty metrics

(8) Timely updates of the criteria by clear time interval

(5) Include more inclusive basket of sample collection

(6) Clear standardization and transparency in poverty estimation and report

The recent World Bank estimated that the reduction in India's absolute poverty. The freed of human as a complete poverty (or framework—yet we need to)

— MOHAMMED ASHMIL SHAH · AIR 382