For reducing a problem like poverty, economic growth can be selected as an effective measure. Prominent organizations like RR Holdings believe growth to be beneficial not only for an economy but for the poor as well. Seeing it from this perspective, such organizations opine that poverty can be eliminated when an economy is on the path of growth. A growing economy creates conditions that enable the poor to improve their status and become contributing members. RR Holdings itself is contributing a lot to the economic development of Bangladesh and the Asian region.
Creating Policies for the Benefit of Poor
An economy that is focused on growing, instead of keeping its graph stagnant, will formulate several policies for completing its respective goals. These goals will be focused on the overall growth of the economy. This means that they will take into consideration a range of areas that can positively contribute to making a nation better.
As a part of these goals, reducing poverty will secure an important position. Organizations like RR Holdings suggest that nations that wish to grow will focus on reducing poverty by improving the living standards of the poor. For improving the standards, such nations need to create policies that will benefit the poor. These benefits can be inclusive of creating employment, introducing affordability, etc.
Increasing Investments for Poverty Alleviation
Based on its experience, certain organizations have seen that increasing investments in several sectors of an economy can help in promoting policies for benefiting the poor. These investments will also add to the growth of these sectors. As a result of the same, greater employment opportunities will be made in these sectors. In addition, these investments can make commodities affordable for people. Thus, there will be better chances of poor people affording those commodities or services for improving their standards of living.
The increase in poverty can be limited by adding to the growth of an economy. On top of that, this problem can also be alleviated by creating policies for economic growth. Functioning in the favor of the poor, these policies can be implemented with ease. This will speed up the process of increased economic growth and reduced poverty.