India has recorded a sharp fall in extreme poverty says World Bank

India has recorded a sharp fall in extreme poverty, with the rate dropping from 27.1 per cent in 2011-12 to 5.3 per cent in 2022-23, according to new estimates released by the World Bank. The sharp decline reflects a net reduction of 269 million people living below the international poverty threshold over 11 years.

World Bank noted that based on the USD 3.00 per day poverty line (in 2021 purchasing power parity terms), the number of individuals in extreme poverty fell from 344.47 million in 2011-12 to 75.24 million by 2022-23. Five populous states - Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh - accounted for 65 per cent of India’s extreme poor in 2011-12. These same states also contributed to two-thirds of the overall poverty reduction during the review period.

Extreme poverty in rural India declined from 18.4 per cent to 2.8 per cent, while in urban areas it dropped from 10.7 per cent to 1.1 per cent between 2011-12 and 2022-23.

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