269M Indians lifted out of extreme poverty since 2011-12: Report
What's the story
India's extreme poverty rate has fallen to 5.3% in 2022-23, a significant decline from the 27.1% recorded in 2011-12, according to updated data from the World Bank.
The data shows that around 75.24 million people were living in extreme poverty during this period, down from a staggering 344.47 million over the past decade.
This translates into roughly 269 million people being lifted out of extreme poverty during this time frame.
Poverty reduction
Decline measured at $3.00 per day international poverty line
The World Bank's assessment was based on the $3.00 per day international poverty line (2021 prices).
If measured at the earlier $2.15 poverty line (2017 prices), only 2.3% of Indians lived in extreme poverty in 2022-23, down from 16.2% in 2011-12.
The decline was uniform across rural and urban areas, with rural extreme poverty falling from 18.4% to 2.8%, and urban extreme poverty reducing from 10.7% to just 1.1%.
State contributions
Progress beyond monetary measures
Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh were instrumental in reducing extreme poverty. These states accounted for two-thirds of the overall decline by lifting millions out of poverty.
The World Bank's Multidimensional Poverty Index (MPI) also shows progress beyond monetary measures. It dropped from 53.8% in 2005-06 to 15.5% in 2022-23, considering factors like education and health standards.
Government efforts
Global figures impacted; NITI Aayog considering new indicator
The Indian government under Prime Minister Narendra Modi has credited these successes to schemes like PM Awas Yojana and Ayushman Bharat, which improve access to essential services.
The World Bank's revisions also impacted global figures, with South Asia's poverty rate revised down from 9.7% to 7.3%.
NITI Aayog is considering a new indicator for measuring "extreme poverty" after consultations with several ministries, the Financial Express reported.