Report attributed the decline to strong consumption growth, rising employment, particularly among women
India's Extreme Poverty Drops From 27.1% To 2.6% In 12 Years: World Bank
In short
Over a span of 12 years, the proportion of Indian residents experiencing extreme poverty fell sharply from 27.1 percent down to 2.6 percent. According to findings published by the World Bank, this downward trajectory was fueled primarily by strong growth in consumer consumption and expanding job markets. Employment gains played an essential role in this turnaround, showing particularly notable advancement among female job seekers.
Key points
- Expanding employment opportunities across the country significantly reduced severe econom…: Expanding employment opportunities across the country significantly reduced severe economic hardship over twelve years.
- Job gains were especially prominent among female workers during this transformative perio…: Job gains were especially prominent among female workers during this transformative period of growth.
- Elevated consumer spending and higher workforce participation together spurred historic n…: Elevated consumer spending and higher workforce participation together spurred historic nationwide poverty reduction.