• Diptarghya Bhattacharjee

Poverty is the curse of any economy and it can diminish the growth and development of an economy. Due to massive poverty, the poverty trap has been created and if a country stuck in this trap then it is very tough to overcome until the government will take the proper policy. There are several types of poverty trap like health-based poverty trap, technology-based poverty trap and here I have included a new type of poverty trap that is savings poverty trap and here due to the savings the poor have stuck in the trap. So, how this savings poverty trap has been created, it will be demonstrated in this paper and at the last portion the policy to extract the poor people from the trap will be discussed and it will be discussed by a new effect that is named as car-stuck effect by which it will be shown that without taking aid or grant from developed country or World Bank, IMF, the task is very difficult for government and this will be compared with a car which stuck in the massive mud.

Poverty; Savings poverty trap; Car-stuck effect

" Savings poverty trap and introduction of car-stuck effect to reduce poverty", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 5, page no.c877-c885, May-2021, Available :http://www.jetir.org/papers/JETIR2105367.pdf

" Savings poverty trap and introduction of car-stuck effect to reduce poverty", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 5, page no. ppc877-c885, May-2021, Available at : http://www.jetir.org/papers/JETIR2105367.pdf