India's poverty will be down from 14.2% to 12.1% in 2 years: World Bank

NewsIndia NewsIndia's poverty will be down from 14.2% to 12.1% in 2 years: World Bank India's poverty will be down from 14.2% to 12.1% in 2 years: World Bank 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 poverty in the country, pointing out that the report recognised India's progress as a country with one of the fastest poverty declines in the world."Under the leadership of PM Narendra Modi, govt's sustained policy efforts are yielding tangible results, strengthening the foundations for inclusive growth and greater economic opportunity.

This is the reason why NDA govt wins people's trust and mandate of our citizens. We remain committed to building on this progress through productive employment, stronger household incomes and effective delivery of public services, so that aspirations of our people are met," she posted on X.Join conversation InsightfulAgreeDisagreeSkepticalConcerningPromisingWorth ReadingBig Development Get the latest India News and Live updates.

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