Statement by Mr. Amit Narang, Counsellor, on Agenda Item 23: ‘Eradication of Poverty - Implementation of the Second United Nations Decade for the Eradication of Poverty (2008-2017)’ at the Second Committee of the 69th Session of the United Nations General Assembly on October 20, 2014

Mr. Chairperson,

India associates itself with the statement made by the distinguished representative of Bolivia on behalf of G-77.

Mr. Chairperson,

The report of the Secretary General on this agenda item, for which we are thankful to him, points out that we have indeed made impressive gains in reducing the incidence of poverty globally.

The MDG target of reducing global poverty rates was achieved before time.

Countries in Asia, including my own, have contributed in no small measure to this achievement. The report highlights that the incidence of poverty in South Asia dropped by 30 points between 1981 and 2010.

Yet, as the report points out, over 1.2 billion people, - and that is more than double the combined population of Europe - continue to be deprived of a life of dignity.

At current rates, over than 970 million people will still be in poverty in 2015.

Clearly Mr. Chairperson, the battle against poverty has not been won. What’s more, the fact that in this 14th year of the 21st century, one in every 6th human being lives in extreme poverty should be an affront to our collective imagination.

Mr. Chairperson,

As the report of the Secretary General notes, the proclamation of the 2nd UN Decade for the eradication of poverty stemmed out of a concern for the uneven progress in reducing poverty within and across regions and the continual increase in the number of poor people in some countries.

It is indeed paradoxical that more than halfway into the decade, we are still discussing the best strategies for reducing poverty.

What is even more disconcerting is the call in some quarters for the new development agenda to move beyond poverty eradication.

Mr. Chairperson,

Far from moving beyond poverty, what we need to do is to attack poverty more directly, with the ambition of ending poverty in one generation.

This noble task has befallen us and we should step up to the plate.

The needs and concerns of 1.3 billion poor people in this world should be central to the new development agenda.

Mr. Chairperson,

It should be self-evident, and we firmly believe so, that the new development agenda must be about development.

The eradication of poverty and hunger through promotion of rapid and sustained inclusive growth should be its overarching objective.

The indispensability of economic growth to poverty eradication and o the achievement of other sustainable development objectives has been well borne out of the experience so far. As the report of the Secretary General notes, the remarkable progress in Asia, in particular East Asia, in reducing poverty is attributed to rapid, sustained, job-rich growth in highly productive manufacturing and service sectors.

Unfortunately, as the Financial Times of a few days ago warned, a period of low growth in the world’s most dynamic economies may have become the ‘new normal’. Stagnating growth rates and stubbornly high unemployment do not augur well for the global fight against poverty.

In this context, the challenge is to put the current global recovery on a sustainable path and to raise the long-term global growth potential.

Mr. Chairperson,

Faster growth and inclusion are interdependent and mutually reinforcing. Policies for inclusive growth and creation of productive employment need to be coupled with enhanced investments in human capital and skills.

Investments in infrastructure and agriculture to raise productivity and in financial inclusion to promote ownership of assets by the poor are as important for sustainable development as investments in social infrastructure, in education, health and safety nets.

The international community, including the international financial system and institutions must assist developing countries in these policy imperatives.

Mr. Chairperson,

The Government of India has taken focused and proactive policy measures to attain faster and inclusive growth and promote skill development and industrial transformation.

Recognizing the importance of financial inclusion for eradicating poverty, an ambitious National Mission on Financial Inclusion has just been launched with the objective of covering all households in the country with banking facilities and having a bank account for each household.

The salient features of this unique Mission include ensuring universal access to banking facilities, a financial literacy programme and providing basic banking accounts with overdraft facility of Rupees 5000 after six months and a ‘RuPay’ Debit card with inbuilt accident insurance cover of Rupees 100,000. The Mission will be later extended to cover a credit guarantee fund, micro insurance, and unorganized sector pension schemes.

While the target under this scheme is to cover about 75 million unbanked households in the country in the next few months, in a record of sorts, more than 15 million new accounts were opened on a single day when the Mission was launched.

Through this Mission on Financial inclusion, we hope to break the vicious cycle between poverty and debt and unleash the entrepreneurial spirit of the people to be able to chart their own destinies.

Mr. Chairperson,

Gender equality and empowerment of women have a critical role to play in the development process, particularly through a multiplier effect. Participation of women in decision-making and policy formulation, improvement in women’s literacy, enhancing women’s access to productive resources and opportunities, and investing in women’s health and nutrition, significantly enhance sustained economic growth and reduce poverty.

India remains committed to the promotion of gender equality and for utilizing enabling technologies in particular ICT for the empowerment of women.

Mr. Chairperson,

In conclusion, we are confident that the global efforts to shape a new development agenda with poverty eradication as its overarching objective will be able to make a lasting dent on this greatest global challenge and bestow a life of dignity to every human being on the planet.

I thank you.

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