India’s 200 million strong Muslim community has lagged behind while the nation has marched ahead. At a time when Covid-19 pandemic has slowed down the Indian economy drastically, making it the worst performing large economy in the world, there are reasons to believe that Muslims must be among the worst sufferers during the ongoing pandemic.
A survey by India’s official NSSO labor force survey while talking about the the economic condition of Muslims says the impoverished community does not show any signs of improvement in India.
What does the NSSO survey says?
The NSSO’s 68th round (2011-12) provides estimates of education levels and job market indicators across major religious communities in India.
The educational attainment of Muslims is the least among all these communities.
In urban areas, the number of male Muslim postgraduates is as low as 15 per 1,000.
This number is about four times lower than that of other communities, including Hindus, Christians and Sikhs.
The number of male graduates among Muslims is 71 per 1,000, less than even half the number of graduates (per 1,000) in other communities.
Similarly, the number of Muslims educated up to the secondary and higher secondary levels is 162 and 90 per 1,000 persons, respectively, again the least among all the communities.
The average per capita consumption expenditure (used as an indicator of income) among Muslims is just Rs. 32.66 per day, which is the least among all religious groups.
What are the concerns spotlighted by the report?
An analysis of the data on economic and educational indicators for various religious groups reveals that Muslims are facing a vicious circle of poverty.
Poor achievement at higher levels of education is partly a reflection of similarly low levels of school education or of illiteracy.
Around half the Muslim population over 15 years is either illiterate or has only primary or middle school education.
Muslims have the lowest attendance rates and educational attainment especially in higher education, this can be explained by their income level and higher costs for post-secondary education.
The signs of Indian Muslims being caught in a vicious circle of poverty are visible in terms of their low consumption expenditure and poor job market indicators, including LFPR, employment status, and worker population ratio. Perhaps some of these people should try and get out of this poverty circle. Whilst it’s not easy, there are always different ways that people can increase their income, regardless of education or jobs. People can consider investing any amount of money into stocks of companies. By looking at a Broker Vergleich (Broker comparison), these people could find the best one and start investing in stocks to try and make more money for themselves over time. This might help them to get out of the poverty circle.
What measures needs to be taken?
The Central and State governments could take concerted steps to help Indian Muslims escape this vicious circle of poverty. It could perhaps be urged that they are also in need of better financial planning and education for their older years, even if it was to be self-taught via the use of applications you can see in the likes of these credit sesame reviews, or similar instances, for example.
Additionally, with cryptocurrencies like Bitcoin also soaring in popularity in other countries, aspiring Indian investors could consider trading cryptocurrencies to boost their income. In case you were not already aware, a cryptocurrency is a new form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows cryptocurrencies like Bitcoin to exist outside the control of governments and central authorities. Consequently, with automated cryptocurrency trading robots like Bitcoin Era hitting the headlines, it is strongly recommended that any aspiring cryptocurrency traders do as much research as possible to find the best trading platform for their needs.
Moreover, more needs to be done to encourage people to invest in insurance. During times of financial hardship, insurance payments can provide a lifeline and can prevent people from slipping into poverty. For example, if someone is unable to work due to a short-term or long-term disability, unless they have financial reserves, there is a high probability that they will struggle to make ends meet. However, disability insurance can provide a potential solution to this dilemma. If more people were made aware of the advantages of investing in long term disability insurance, then more disabled people who are currently unable to work would be able to support their families more easily.
One other way to improve their situation is to provide a special incentive and subsidy system for higher education.
That will ensure that school going students continue to higher levels of schooling and higher education.
Similarly, students who don’t wish to continue in general academic education must have access to vocational education from Class 9 onwards.