Decline in extreme poverty rate from 27.1% 5.3% in India: World Bank Report | India News

India News

World Bank data reveals that nearly 269 million people were lifted out of extreme poverty during this period. A significant educational disparity is also evident. In 2022–23, 35.1% of individuals over the age of 16 with no schooling were living below the poverty line, compared to just 14.9% of those with post-secondary education.

A significant educational disparity is also evident. In 2022–23(Image Credit: Getty Images)

New Delhi: India has seen a sharp decline in poverty, with the number of people living in extreme poverty dropping from 344.47 million in 2011–12 to 75.24 million in 2022–23, marking significant progress in poverty reduction. According to the latest World Bank data, India has brought down its extreme poverty rate from 27.1% in 2011–12 to 5.3% in 2022–23.

World Bank data shows that nearly 269 million people were lifted out of extreme poverty during this period.

In 2011–12, states such as Uttar Pradesh, Maharashtra, Bihar, West Bengal and Madhya Pradesh accounted for almost 65% of India’s total poverty. By 2022–23, these same states contributed to nearly two-thirds of the overall decline in poverty.

Decline in extreme poverty share

The World Bank’s poverty threshold of $3 per day shows a broad reduction in poverty across both rural and urban areas. Based on the $2.15 per day standard for daily consumption, the poverty rate dropped sharply from 16.2% in 2011–12 to 2.3% in 2017. The number of people living below the $2.15 threshold fell from 205.93 million in 2011 to 33.66 million in 2022—indicating that about 172.27 million people rose above the poverty line.

The data also highlights a consistent decline in poverty across regions. Rural poverty dropped from 18.4% to 2.8%, while urban poverty declined from 10.7% to 1.1% over the past 11 years. The Multidimensional Poverty Index (MPI) fell from 53.8% in 2005–06 to 16.4% in 2019–21, and further to 15.5% in 2022–23.

Educational gap and poverty

The proportion of Indians living below the revised lower-middle-income country (LMIC) poverty line of $4.20 per day (up from $3.65 in 2017 prices) fell from 57.7% in 2011–12 to 23.9% in 2022–23. In absolute numbers, those below this line decreased from 732.48 million to 342.32 million over 11 years.

Poverty data for 2023–24 is expected in October under the World Bank’s Poverty and Inequality Platform (PIP). Government sources have stated that internal figures for 2023–24 are still being finalized.

Under the $3.65-per-day LMIC line (in 2017 prices), rural poverty dropped from 69% in 2011–12 to 32.5% in 2022–23, while urban poverty fell from 43.5% to 17.2%.

A significant education-related disparity was also observed. In 2022–23, 35.1% of individuals above the age of 16 with no schooling were living below the poverty line, compared to only 14.9% of those with post-secondary education.

Next Article

Follow us on social media

[ad_1]

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}

[ad_2]