ECONOMIC RIGHTS

Right to Food
 The right to food is a human right.
 It protects the right of all human beings to live in dignity, free from
hunger, food insecurity and malnutrition.
 . The right to food is not about charity, but about ensuring that all
people have the capacity to feed themselves in dignity.
 It is generally accepted that the right to food implies three types of
state obligations - the obligation to respect, protect and to fulfil. 
 To sum up, the right to food means that governments must not take
actions that result in increasing levels of hunger, food insecurity
and malnutrition. It also means that governments must protect
people from the actions of powerful others that might violate the
right to food.
Right to Equal Pay for Equal Work

 Equal pay for equal work is the concept that individuals doing
the same work should receive the same remuneration
 It is most commonly used in a context of sexual discrimination,
as equal pay for women
 Equal pay does not simply relate to basic salary but also to the
full range of benefits, non salary payments, bonuses and
allowances that are paid.
 The principle of ‘equal pay for equal work’ has an important
place in India. It is read with Article 39(d) and Article 14 of the
Constitution of India. During the 1970s and the 1980s, the
Supreme Court applied this principle liberally, without
demanding clear proof in the pleadings
Opposition to equal pay for equal work

 Free market supporters believe that government actions to

correct gender pay disparity serve to interfere with the system
of voluntary exchange
 They see the fundamental issue is that the employer is the
owner of the job, not the government or the employee
 A private business would not want to lose its best performers
by compensating them less and can ill afford paying its lower
performers higher because the overall productivity will decline
 There are also specific affirmative defenses to the criticism
above that government is forcing employers to pay less
qualified workers the same as superior workers
Right to Consumer Information
• Government of India has enacted “ The Right to Information Act,
2005 (Act No.22 of 2005) with an objective to establish the
practical regime of Right to Information for citizens to secure
access to information under control of Public authorities in
order to promote transparency and accountability in the
working of every Public authority etc.
• The Act provides for the information to be disseminated to
citizens through notice boards, newspapers, public
announcements, media broadcasts, Internet or any other means
including inspection of Offices of any Public Authority.
• It is the right of every consumer to get information.An initiative
in this regard is “Jago Grahak Jago”.
WHAT IS CREDIT RATING?
 A credit rating estimates the credit worthiness of
an individual, corporation, or even a country.
 an evaluation of a potential borrower's ability to
repay debt, prepared by a credit bureau.

A poor credit rating indicates a high risk of

defaulting on a loan, and thus leads to high
interest rates, or the refusal of a loan by the
creditor.
FACTORS INVOLVED
The factors that may influence a person's credit
rating are:
 ability to pay a loan

 interest

 amount of credit used

 saving patterns

 spending patterns

 debt
 PROTECTION
 Overdraft protection offers a safety net that keeps your checking
account balance from going below zero.

 As a consumer, we should know that an overabundance of

bounced checks might affect our credit rating with banking
institutions and quite possibly your credit report. The best way to
guard ourselves by getting overdraft protection from our bank.

 It is available to almost anyone but there are certain conditions

that may apply and these conditions will vary bank to bank.