How do you get rid of poverty in a third-world country?
Poverty is one of the major issues in the third world countries which impacts their growth and development. The following could be some ways to get rid of poverty:
Access to healthcare and insurance: one of the major reasons of poverty in countries is lack of healthcare facilities especially in the rural areas. This forces people to either move to cities for access to healthcare or livelong diseases. In both the cases, the expenses are high, which could be in form of high costs of living in the cities or the high opportunity cost due to not able to work.
So if the healthcare and insurance are provided countrywide then there would be less loss of income or out of pocket expenditure, which would let people live a healthy life, increase productivity and also increase incomes, which would drive people out of poverty.
Also access to education for all would be a vital element in eliminating poverty. This is because when everyone has access to education, then people would have access to skills and better opportunities. This would help not only in securing better jobs and income, but would also help drive them out of the vicious cycle of poverty.
Also it is seen that agricultural community is one of the sectors which is worst affected by poverty. The government could increase their productivity by ways of public private partnership wherein establishing irrigation facities, electricity etc could be helpful in reducing their dependence on monsoons and crop failures.
Also the government can encourage allied agricultural activities like pisciculture, horticulture etc which would help the people with alternative sources of income and work a long way in reducing poverty and increasing output.
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