India's Poverty Reduction Success Story

According to the latest "Poverty & Equity Brief" from the World Bank, India has made significant strides in reducing extreme poverty. The report highlights that between 2011-12 and 2022-23, 171 million people were lifted out of extreme poverty, defined as living on less than USD 2.15 per day.

Significant Drop in Poverty Rates

The report reveals a dramatic decrease in extreme poverty rates from 16.2% in 2011-12 to just 2.3% in 2022-23. This achievement is not only a testament to India's economic growth but also to its targeted poverty alleviation programs.

Rural and Urban Poverty Trends

Both rural and urban areas saw substantial improvements, with rural extreme poverty dropping from 18.4% to 2.8% and urban extreme poverty from 10.7% to 1.1%. The gap between rural and urban poverty has also narrowed significantly, showcasing a more balanced development across the country.

Transition to Lower-Middle-Income Category

India's economic progress is further underscored by its transition into the lower-middle-income category. Using the USD 3.65 per day poverty line, overall poverty fell from 61.8% to 28.1%, lifting an additional 378 million people out of poverty.

Challenges Ahead

Despite these achievements, challenges remain, including youth unemployment and gender disparities in the workforce. The report calls for continued efforts to address these issues to sustain and build on the progress made.