The World Bank's recent assessment highlighted that extreme poverty plummeted to 2.6% by 2023, largely propelled by strong consumption and social assistance such as food subsidies. Elevated female employment and broad-based job creation also helped narrow the national Gini index from 29 to 23. However, residual poverty remains heavily concentrated among families with lower education levels and limited assets, compounded by wide earnings disparities between upper and lower wage earners.
Key points
Expanded welfare measures, including food subsidies and female workforce participation, s…: Expanded welfare measures, including food subsidies and female workforce participation, served as critical drivers of poverty reduction.
Poverty rates under the higher 4.2-dollar-a-day threshold are projected to decline furthe…: Poverty rates under the higher 4.2-dollar-a-day threshold are projected to decline further to 12.1% by 2028.
Persistent challenges remain as ongoing deprivation clusters heavily among households fac…: Persistent challenges remain as ongoing deprivation clusters heavily among households facing unstable employment and lower educational attainment.
Sources checked by our analysis pipeline: 1
PM Narendra Modi cites World Bank data showing India's extreme poverty rate fell 90% to 2.6% between 2011 and 2023, with nearly 50 crore people lifted out of extreme poverty.
NEW DELHI: India has recorded one of the fastest poverty declines in the world, with the extreme poverty rate in the country "collapsing" by 90% between 2011 and 2023 to a low of 2.6%, Prime Minister Narendra Modi said on Saturday, while asserting that elimination of poverty is a commitment for his govt."A historic fall in poverty. A generational rise in opportunity... Gareebi hatao was never a slogan for us. It is our commitment. From more than 1 in 4 Indians to roughly 1 in 38 (in extreme poverty)," the PM posted on Instagram Saturday, citing the World Bank's latest numbers. He highlighted that nearly 50 crore people had moved out of poverty during these 12 years.Besides, Modi added, employment had grown by 13.4 crore between 2017 and 2023, which was nearly twice the increase in India's working age population. "Inequality has fallen sharply. India's Gini index has dropped by…
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