India records major progress in fight against poverty
Originally published by News – Capital FM — Read the original article →
India has made significant progress in reducing poverty, with nearly 496 million people moving above the World Bank’s lower-middle-income poverty threshold between 2011–12 and 2023–24.
The gains point to a substantial improvement in the living conditions of millions of households and mark a major shift in the country’s socioeconomic landscape. According to a World Bank assessment cited in the report, the proportion of India’s population living below the $4.20-a-day poverty line declined from 57.7 per cent in 2011–12 to 16.1 per cent in 2023–24.
The reduction in extreme poverty has been equally notable. The share of people living on less than $3 a day fell from 27.1 per cent to 2.6 per cent over the same period, reflecting improved access to basic necessities and greater household economic security.
