Choose the given statement is true/false:

The poverty line is estimated periodically.

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Detailed Solution

The above statement is true.
The poverty line is estimated periodically after considering inflation and other requirements according to the situation. The current poverty line is Rs. 1,059.42 per month in rural areas and Rs. 1,286 per month in urban areas. The poverty line in urban areas is higher than in rural areas because of the price differences between the regions. There are two methods of calculating the poverty line.
Income Approach: This technique has a minimum income requirement. If a person's income falls below this amount, they are said to be below the poverty line, and it is presumed that they cannot afford to meet their necessities.
Consumption method: A minimum calorie need for food is determined, and the energy this meal provides is assessed in calories. The person is regarded as living below the poverty line if the recommended number of calories is not met.

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