2.6 SOCIO ECONOMIC IMPACT – Socio economic is defined as the impact of a proposed development on the lives and circumstances of people, their communities and their families (Baker, 2014). According to the Stemplowski “The concept of development functions as both, a product of an optimistic vision and an articulation of social interests, and a tool of analysis.
” Generally socio economic development based on two issues: nature of socio economic development and the scope of the concept of this type development and its reference. According to the Fitch group rating agency, ‘housing for all mission’ program will help to increase the growth of Indian economy by 3.5% by 2022, But according to the Indian institute for human settlements (IIHS) says that rather than building new units, Indian government should focus on upgrading existing housing for communities (Sen, 2016).In the metropolitan cities like Mumbai, there are 10-12 million people are living in the area of 437 square kilometers. 6 million of people in those areas are living in slums.
2.6.1 SOCIO ECONOMIC IMPACT OF SLUM REDEVELOPMENT ON RESIDENTS –In India, there are many micro-entrepreneurship and spaces for the community gathering, small shops. Indian government’s aim is to maintain socio and economic sustainability through verticalizing these public spaces and by impressive architecture. The slum is an unhygienic place to live in; socio-economic status shows population or individual’s living standard. Education and occupation play an important role in the study of the socio-economic status of residents. Poverty is the main reason of slums and it can be resolved by the proper education and employment (Pawar and Mane, 2013). Poor sanitation is one of the biggest challenges in slum areas that cause most of the diseases.
In worldwide, poor sanitation is the responsible for several existing diseases. Poor sanitation cause economic loss by the direct cost of treating illnesses, which caused by the poor sanitation and lost income through low productivity in the factories because they couldn’t work unless they recover from illness. The key economic impacts in ascending order of importance were tourism, user preferences (access time cost), water resources and health comes on the first (Van Minh and Hung, 2011). In Cambodia, around US$448 million per year has led to economic loss because of the poor sanitation if we translate this amount into per capita loss of approximately US$32. Indonesia has lost around US$6.3 billion because of the poor sanitation and un-hygiene living conditions that are around 2.
3% of the GDP. In all over the world due to poor sanitation and unhygienic conditions, around 50,000 people died every year and caused at least 120 million disease episodes (Van Minh and Hung, 2011). Poverty affects the education, sex ratio, death ratio, health, nutrition, the socio-economic status and life expectancy. Education and skill level is very low in people those are living in slums due to the lower poverty economic status. Women those are living in slums have started to earn to improve the lower economic conditions and try to support family income.
Population occupation plays an important role in socio-economic status (Pawar and Mane, 2013). In India, slum dwellers give a very bright picture of factors such as health status, type of house, caste, education, living environment of the family, the annual income of the family, religion, and occupation etc. (Sufaira, 2013).In India, the social condition of the slum is not good, because of lack of electricity, drinking water, and basic amenities. In slums, economic condition is very low because of illiteracy, mostly slum dwellers work as rickshaw pullers, auto drivers, roadside small shops, laborer, house cleaners etc. the Low-income group with inadequate education are the characteristics of socio-economic status of slum dwellers. In socio-economic status, education and occupation play an important role. It’s very important to give good life and a better lifestyle to the people of slums for better socio-economic status (Singh, B.
2016). India is a developing country with many projects from bullet trains to the world-class infrastructure, to give all the basic amenities to the people of slums is very important by the government. As per the project of government ‘housing for all mission 2022’ will give good socio-economic status by providing clean water, hygienic environment, electricity, fans, T.V etc.
(Singh, B. 2016). Slum redevelopment program will help to increase economic opportunities. Some people those are working in factories such as cement factories, textile industries etc. they want to work on computers or offices rather than that kind of work.
The Government will support their business ideas and help them by providing a loan to start their business (Burger et al., 2014). Slum redevelopment program will help to reduce the pollution such as noise pollution, air pollution, and lack of crowding as compare to the current situation of slums. By providing the better clean environment will provide them good health conditions so that they can have a good life. This Project is for their better future. As compared to the slums, slum redevelopment program will help to increase the safety of the affordable housing by providing the main entrance.
Children will get indoor play area as well as outdoors to play cricket, which will increase the safety of children. According to the Indian government’s affordable housing for all initiative, improved sanitation will bring multiple economic benefits such as – direct economic benefits of avoiding diseases, indirect economic benefits by reducing in working days lost to illness a longer lifespan and improved sanitation will also save time (Van Minh and Hung, 2011).