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POVERTY & INCOME DISTRIBUTION, zakat help in reducing poverty by…
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zakat help in reducing poverty by transferring the wealth from the rich to the poor. (refer to At-Taubah:11)
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- Absolute poverty measures the number of households unable to get sufficient resources, to satisfy basic needs.
- Earn income below a specified minimum level of real income (poverty line) which is sufficient to fulfill basic needs.
- Every country must determine their own poverty line: Threshold Poverty Line Income(TPLI)
- Absolute poverty refers to a situation of having income below the absolute poverty line.
- Relative poverty measures the extent to which a household's financial resources falls below an average income threshold for the economy
- It measures the income earned by a group of households compared to other households.
- To measure relative poverty, we need to rank the level of income from the highest to the lowest. Then, certain percentage of households who fall in the group of lowest income in the country or internationally, is considered under relative poverty.
- this law ensures that there is a wider circulation of wealth among family members and prevent the concentration of wealth on the hands of certain individuals only.
- It is the responsibility of every individual who is abled-bodied.
- The failure to provide subsistence to the dependents lead to the deprivation of needs which in turn will cause poverty.
- state play an active role in the economic process to ensure the realization of the social objectives of fulfillment of basic need of all human beings, balance and equity in distribution of income and wealth and etc
- Education- improve the skill among the population so that they can work and earn their living and at the same time participate in the economics activities.
- Identify the available economic resources and ensure a proper management in utilizing the resources.
- resources given by God- man to utilize.
- man has right to seek his livelihood on God’s earth to his capacity, ability and natural endowments.
- provide training, aids and loans without collateral for micro enterprise.
- Microcredit- loans for a group of individuals.
- basic necessities in rural areas, i.e. hospitals, clean water supply, free food for school children and etc.
- ensure price level for basic goods is maintained at low level by giving subsidies.
- instead of using machines, use more labor.
- redistribute assets, power, educational facilities and job opportunities to the poor or people in rural areas.
- the higher income people pay more tax.
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