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While economic resilience needs to be achieved at the family level, there is a need to work within and beyond the family. Together with the partners and advisors of the Impact Canvas, CAC has established an evolving framework with four key approaches to building economic resilience i.e. Conservation, Diversification, Aggregation, and Risk Pooling (CDAR).
Economic resilience is more than just facilitating services to vulnerable populations; it is also about instilling hope and aspirations, cultivating an opportunity mindset, gaining the ability to make and shape decisions, and so on. To successfully implement this, it is essential that the work is done collaboratively with the Government, Private Sector, Civil Society Organisation and Communities who need to be at the centre.
Focus on protecting the existing resources and sources of income and reducing expenses by meeting the basic needs.
Through initiatives like providing access to social protection schemes like PDS, MGNREGA job cards, housing schemes, scholarships, and health insurances to meet expenses of day-to-day life.
Through initiatives like providing access to social protection schemes like PDS, MGNREGA job cards, housing schemes, scholarships, and health insurances to meet expenses of day-to-day life.
Bring in more income-generating aspects to the existing source of income and reduce the risk of one source being affected by a shock.
In the short run, cash, livestock, chits, etc. could be built and in the long run assets like gold/durables/house/education of children, etc.
This could be wages, nano- enterprises, skill development, pensions, remittances, govt transfers, assets which are different risk factors.
Coming together to create better social capacity through collective voices and better negotiation of interests among different actors
Higher income to smallholders/labourers can be realised when they lower input cost, negotiate with scale in the market, etc.
Changes in social terms comes when one gets social status and able to get mutual support system to address adversaries.
Build mechanisms to reduce risks to income sources and assets. This includes creating social and physical resources to manage risks and mitigating them.
Friendly neighbours, helpful relatives, benefactors/patrons to help when risk hits.
To ensure pooling of risks and help in adversity is a right because one is part of the pool.
