A Study on Social Protection Programmes towards Poverty Reduction in India

Abstract

India's economic output in the South Asian region has fallen below its pre-pandemic levels by a significant margin, comprising three-quarters of the region's total output. This decline can be attributed to factors like increased prices and elevated borrowing costs, which have put pressure on private consumption. According to a report from the World Bank, despite this setback, India is projected to maintain its status as the fastest-growing economy among the largest Emerging Market and Developing Economies (EMDEs). This growth is expected to apply to both overall GDP and GDP per capita. The report attributes this resilience to India's private consumption and investment sectors, as well as the strong performance of the services sector, which has led to a positive revision in growth forecasts for 2023. While investment growth remained strong as the government increased capital spending, manufacturing recovered into 2023 after shrinking in the second half of 2022. Another factor that drove private investments increased corporate earnings. The research paper concentrates on a thorough analysis of various welfare programmes in India and the effects on social protection. It provides an overview of India's performance on the economic and social indicators and emphasizes the trends for the developing country, India. The report highlights the need for major improvements in India's major social programmes' efficacy and efficiency. The engagement of women in social assistance programmes and their accessibility must get special consideration.