The findings build on a decade of progress between 2011 and 2023 that lifted 496 million people out of poverty and lowered extreme poverty from 27.1% to 2.6%. Robust employment expansion was central to these gains, with roughly 134 million workers added between 2017 and 2023. Nevertheless, the World Bank noted that real worker earnings have remained mostly stagnant, while remaining poverty has concentrated within households lacking assets and stable jobs.
Key points
Expanding social safety nets such as food subsidies have been essential in supporting low…: Expanding social safety nets such as food subsidies have been essential in supporting lower-income populations.
Severe income inequality persists as the top 10% of workers earned roughly 13 times more…: Severe income inequality persists as the top 10% of workers earned roughly 13 times more than the bottom 10% in 2023.
Deprivation is increasingly clustered among households that suffer from minimal education…: Deprivation is increasingly clustered among households that suffer from minimal education and inadequate access to stable employment.
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World Bank projects India's poverty rate to fall to 12.1% by 2028, from 14.2% in 2026, citing strong consumption growth and rising employment
NEW DELHI: World Bank has said that poverty in India, defined at $4.2 a day, will decline from 14.2% in 2026 to 12.1% by 2028.Between 2011 and 2023, it is estimated that the share of the population living below $4.2 a day declined from 57.7% to 16.1%, lifting an estimated 496 million people out of poverty. It said that extreme poverty ($3 a day) declined from 27.1% to 2.6% during this period."This progress was mainly driven by strong consumption growth; rising employment, especially among women; and expanded social transfers, including food subsidies. As poverty declined, it became increasingly concentrated among households with lower education, fewer assets, limited access to stable employment, and higher dependency ratios. Wage disparities, however, remain pronounced, as median earnings among the top 10% of workers were about 13 times those of the bottom 10% in 2023," World Bank said in its latest Poverty & Equity brief.Finance minister Nirmala Sitharaman cheered the decline in…
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