INCOME, CONSUMPTION, SAVING, POVERTY ALLEVIATION AND SOCIOECONOMIC DEVELOPMENT
Economic literature shows correlation in poverty alleviation and socioeconomic development. The researchers become increasingly responsive to the poverty alleviation when giving policy suggestions to the stakeholders about socio-economic development. If socio-economic development is the function of poverty alleviation then the crucial role of the determinants of poverty alleviation cannot be challenged. Though poverty alleviation needs a multi-dimensional approach to combat the issue, however modern economic literature uses economic dimension e.g. income of the household as a determinant of poverty alleviation. Present study suggest that it’s not only income that impact the poverty alleviation and socio-economic development but practically the capability of household for consumption and saving actually determines the poverty alleviation. Consequently the effective capability of the household to consume and save is the prerequisite. This study is based on the data obtained from 300 households using the proportional stratified sampling technique in the urban area of Peshawar District to quantify the factors that determine income, consumption and saving function of the urban households that in turn effect the poverty alleviation and socio-economic development. Hence the present study identifies the factors that directly or indirectly ascribed for poverty alleviation and socio-economic development in Pakistan.