An Analysis of the Poverty and
Human Development in Sri Lanka
Principles of Economics
This research is based on the data and information of 1st year 1st semester
2. ECONOMIC GROWTH AND DEVELOPMENT.
3. HUMAN DEVELOPMENT AND HUMAN DEVELOPMENT INDEX.
4. SUSTAINABILITY DEVELOPMENT.
6. NATIONAL POVERTY LINE AND MULTIDIMENSIONAL POVERTY INDEX
7. SUSTAINABLE DEVELOPMENT GOALS OF UNITED NATIONS.
8. THE POVERTY AND HUMAN DEVELOPMENT IN SRI LANKA.
This report provides important information on poverty, human development, and other related economic conditions in Sri Lanka. They are described briefly and clearly based on examples and data. The current situation in Sri Lanka regarding economic growth and development is considered, based on post-independence economic data. Non-economic factors that contributed to the situation in economic growth and development are also mentioned in the report. The report also describes non-economic factors that contributed to the unsatisfactory change in economic growth and development.
The progress of human development in Sri Lanka compared to other Asian countries and the Human Development Index are discussed in detail. And it’ll discuss the current situation clearly based on the data of the human resources index. Considers the importance and current status of sustainable development in Sri Lanka. The United Nations’ goals of sustainable development are simply stated.
The report is considered poverty and how it has spread globally as well as in Sri Lanka. It considers the steps we can take to eradicate poverty as well as the decisions taken by Sri Lanka as a government. This report has been considered the factors contributing to poverty, including inequality in income distribution, as well as the other factors.
My advice to all readers
Sri Lanka has been a developing country for a long time. From time to time our country faced various economic situations. It’s not only happened by the economic problems, but also there are political situations, Civil war, Global economic situations, and many more various problems we had to face as a country. When we consider the economy after the independence of 1948, we had a fairly developed economy. But after the independence situation wasn’t a good one for the economy.
As an example, in 1960 Sri Lanka’s per capita GDP was 152 dollars, Taiwan149, but by 1978 Sri Lanka’s per capita GDP was 226, Taiwan 505.
MAIN POINTS OF SRI LANKA ECONOMY FROM 1960 TO 2014
ECONOMY GROWTH AND DEVELOPMENT LAST 10YEARS
HUMAN DEVELOPMENT AND HUMAN DEVELOPMENT INDEX
Human development or the human development approach is about expanding the richness of human life, rather than simply the richness of the economy in which human beings live. In 1990 the first Human Development Report introduced a new approach for advancing human wellbeing. It is an approach that is focused on people and their opportunities and choices.
Human development index
The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions.
HUMAN DEVELOPMENT AND HUMAN DEVELOPMENT INDEX SRI LANKA
Sustainability development is known as not only using natural resources in the present process but also saving them for the future generation to fulfill their needs. Therefore Sustainability Development is not only utilizing existing resources but also developing them and protecting those resources for future generations to fulfill their necessary needs.
Sri Lanka Sustainability Development Index
+ Overall score = 66.9
+ Overall rank = 94
+ Spillover score = 96.5
Scheme of Sustainability Development
Scheme of sustainable development:
at the confluence of three constituent parts. (2006)
Poverty is the state of not having enough material possessions or income for a person’s basic needs. Poverty may include social, economic, and political elements. We can see some different types of poverty here.
The Effects of Poverty
Solutions for Poverty
NATIONAL POVERTY LINE AND MULTI-DIMENSIONAL POVERTY INDEX
The national poverty line is the minimum level of income deemed adequate in a particular country.
the poverty line is usually calculated by the cost of necessary resources used by elder humans within a year. The poverty line could be calculated annually. The poverty line is a higher value in developed countries than in developing countries.
Multi-Dimensional Poverty Index is an international measure of acute poverty covering over 100 developing countries. The Multi-Dimensional Poverty Index assesses poverty at individually.
Multidimensional poverty Index (MPI)= 0.009(2016)
Multidimensional poverty Headcount Index (H)= 2.4 % (2016)
Sri Lanka Poverty Line
SUSTAINABLE DEVELOPMENT GOALS OF UNITED NATIONS
In September 2015, the General Assembly adopted the 2030 Agenda for Sustainable Development that includes 17 Sustainable Development Goals (SDGs). Building on the principle of “leaving no one behind”, the new Agenda emphasizes a holistic approach to achieving sustainable development for all.The newly implemented 2030 Agenda for Sustainable Development holds a deep promise for persons with disabilities everywhere.
Goal 1 – No poverty
Economic growth must be inclusive to provide sustainable jobs and promote equality
Goal 2 – Zero hunger
The food and agriculture sector offers key solutions for development and is central to hunger and poverty eradication.
Goal 3 – Good health and well-being
Ensuring healthy lives and promoting the well-being of all at all ages is essential to sustainable development.
Goal 4 – Quality education
Goal 5 – Gender equality
Gender equality is not only a fundamental human right but a necessary foundation for a peaceful, prosperous and sustainable world.
Goal 6 – Clean water and sanitation
Clean, accessible water for all is an essential part of the world we want to live in.
Goal 7 – Affordable and clean energy
Energy is central to nearly every major challenge and opportunity.
Goal 8: Decent work and economic growth
Sustainable economic growth will require societies to create conditions that allow people to have quality jobs.
Goal 9: Industry, Innovation and Infrastructure
Investments in infrastructure are crucial to achieving sustainable development.
Goal 10: Reduced inequality
To reduce inequalities, policies should be universal in principle, paying attention to the needs of disadvantaged and marginalized populations.
Goal 11: Sustainable cities and communities
There needs to be a future in which cities provide opportunities for all, with access to basic services, energy, housing, transportation and more
Goal 14: Life below water
Careful management of this essential global resource is a key feature of a sustainable future.
Goal 15: Life on land
Sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss
Goal 16: Peace and justice strong institutions
Access to justice for all, and building effective, accountable institutions at all levels.
GOAL 17: Partnerships to achieve the goal
Revitalize the global partnership for sustainable development.
THE POVERTY AND HUMAN DEVELOPMENT IN SRI LANKA
Poverty in Sri Lanka
Sri Lanka is an island country. There is a 21.7 billion population here. However, in the vocational period, this may be increased from foreigners. Sri Lanka people and the economy suffered from the civil war from 1983 to 2009. therefore, poverty is the main turning point in our economy because it’s a main economic problem for us as a country.
In 2002 our poverty rate was 22.7 % then after 10 years, it’s decreased to 6.7 %. In 2016 it was 4.1%. Therefore, we can see the poverty in Sri Lanka is decreasing. But there is income inequality.
A large scale of the population is living in rural areas it’s about 75% in 2013 and also 85% of the poor population are also living in the rural sector. It’s one reason for this unequal spatial distribution of wealth. The large scale of the wealth of Sri Lanka is centralized to the urban sector. Therefore rural citizens have a problem with resources. But after the civil war, the government started to development of these rural areas.
Almost 30% of the workforce and about 50% of poor employees are worked in the agriculture sector. Typically, there are lower wages and lower chances to advance their jobs. So, we have a problem as a country it’s how to increase their income.
Other socioeconomic issues, such as malnutrition and climate change, directly affect Sri Lanka’s poverty rate. According to the World Food Program, 22% of Sri Lankans are undernourished or malnourished which signifies that many citizens lack necessary vitamins and minerals.
To combat these issues, the Sri Lankan government partnered with the World Food Programmed to provide “technical and policy support to build national capacity to ensure access to food, end malnutrition and improve the productivity and incomes of smallholder farmers.” Additionally, the Sri Lankan government has made significant advances in reducing maternal mortality and increasing access to primary education.
The percentage of skilled practitioners attending births in Sri Lanka has increased in recent years. Resultantly, Sri Lanka’s maternal mortality ratio has decreased from 500-600 maternal deaths per 100,000 live births to 60 maternal deaths per 100,000 live births in 2020.
Education is one of the most salient factors in alleviating poverty. Today, 99.08% of children ages 5 to 14 years old attend primary school in Sri Lanka.
Predictions determine that Sri Lanka will experience a 25 percent (or $750 million) decrease in exports due to the COVID pandemic. As a result of that, we had to cut off top export industries like Tea, Apparel, and Rubber.
Therefore, we can decide it has made significant strides to reduce its poverty rate.
Human Development in Sri Lanka
The latest report of the United Nations shows that Sri Lanka has made a significant gain from the human development sector. Sri Lanka gained 0.782 index scoring and take 72nd place from over 189 countries in 2019. The HDI is measured on a 0-1 scale and in 2000 Sri Lanka was measured 0.691. And maintained an annual 0.49 percent growth in HDI from 2010 to 2018
The HDI is a summary of several factors that can be categorized under three broad dimensions:
Life expectancy at birth in Sri Lanka is 76 years. It’s a good point because HDI average life expectancy at birth is 72 years. When we consider other Asian countries, Sri Lanka takes 2nd place in life expectancy at birth.
The knowledge dimension is measured through the expected years of schooling and mean years of schooling. Sri Lanka’s expected years of schooling is 14 years, and its mean years of schooling come in at a little over 11 years.
The decent standard of living is measured through Gross National Income per capita where Sri Lanka measures at $4,020 in 2019.
The government has recently increased direct taxes and reduced indirect taxes to eliminate income inequality. It helps the poverty alleviation program.
All the contents of this report are excerpts from recent reports and the Central Bank report. On closer inspection, the main point we feel is that Sri Lanka is still a developing and low-income economical country.
Furthermore, Sri Lanka’s economic growth and development are still very low. Recent reports suggest that in the early days after independence, we saw a very good situation but new situations are not a good one as a country. This report makes it clear to us that economic growth should not be a mere numerical value, but a practical mirror of the living standards of all citizens in a country.
Considering the Human Development Index, we feel that the progress we have made in human development compared to other countries in Asia is commendable. It is clear that it is a positive measure of the living standards of the entire population of a country.
Sustainable development shows how a country’s resources are utilized efficiently and effectively, saving future generations. It is also clear that the United Nations Sustainable Development Goals are very simple and well described
Poverty is one of the major economic weaknesses within a country. It is clear that this is a problem in all developed and developing countries. Inequality in income distribution is a major cause of this problem. The steps we can take to eradicate poverty as a country are very brief. The report also cites the district-wide spread of poverty in Sri Lanka. The report also commends the positive decisions we have taken as a country to eradicate poverty.
Overall, we as a country are at a very low economic level. It is clear that poverty is a rooted problem in the Sri Lankan economy. While our progress in human development is commendable, we do not see an economic policy that will take advantage of it and lead the country towards real economic development. All economic and political regimes in power are responsible for this situation.
All relevant details according to the topic.
Learn about writing introduction, conclusion, and recommendation.
To get all relevant details about HDI.
Global poverty map and relevant details according to the poverty.
Relevant details about Human Development in Sri Lanka.
Poverty and Human Development in Sri Lanka.
Overview of Sri Lanka Economy.
Sri Lanka GNI per capita.
Facts of poverty in Sri Lanka.
Sustainable Development Goals of United Nations.
Poverty and HDI Sri Lanka.
Sustainable Development Goals of United Nations.
Solutions for poverty.
Solutions for poverty.
Sustainable Development Goals
To get details about Sustainable Development.
Human Development Reports.
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