Paper: GS – III, Subject: Indian Economy, Topic: Poverty, Issue: India’s Decline in Extreme Poverty.
Context:
Poverty Rate Decline: India’s poverty rate has decreased from 27.1% in 2011-12 to 5.3% in 2022-23. This represents a substantial reduction in the proportion of the population living in extreme poverty.
Key Takeaways:
- Resilience Against Inflation: Despite the increase in the poverty line, India’s poverty statistics have remained relatively stable, indicating resilience in the face of economic challenges.
- The adjustment for domestic inflation has not adversely affected the overall poverty reduction narrative.
The recent changes in the World Bank’s poverty thresholds reveal a positive trend in India’s economic development and a significant decrease in extreme poverty rates, which translates into improved living standards for millions of Indians.
https://indianexpress.com/article/business/world-bank-poverty-line-rate-falls-2022-23-10051890
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