India's Resilient Battle Against Poverty: A Decade of Progress
India's extreme poverty rate dropped significantly from 27.1% in 2011-12 to 5.3% in 2022-23. The World Bank revised the poverty line from USD 2.15 to USD 3 per day, yet India's progress continued, lifting 171 million people from extreme poverty. The rural-urban poverty gap has also narrowed.
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- India
India has witnessed a dramatic fall in its extreme poverty rate over a decade, with the World Bank reporting a decrease from 27.1% in 2011-12 to 5.3% in 2022-23. The poverty threshold was revised upwards to USD 3 per day, yet India still managed to showcase remarkable progress.
Despite the global increase in poverty numbers, India's refined data and updated survey methods revealed a statistical outlier, reducing the poverty count significantly. In 2024, 5.44% of India's population lived on less than USD 3 per day, highlighting the nation's resilience.
The report credited free and subsidised food transfers for supporting poverty reduction, and noted the narrowing of the rural-urban poverty gap. The World Bank also touched upon India's economic outlook, projecting a gradual growth recovery alongside potential global uncertainties.
(With inputs from agencies.)
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