In a significant feat under Prime Minister Narendra Modi’s visionary government, India has made key strides in the last decade in reducing its extreme poverty rate, which fell to 5.3 per cent in 2022-23 from 27.1 per cent in 2011-12, latest World Bank data has revealed.
About 75.24 million people were living in extreme poverty in India during 2022-23, a massive drop from 344.47 million in 2011-12.
According to the World Bank data, this means 269 million individuals were lifted out of extreme poverty over approximately 11 years.
Uttar Pradesh, Maharashtra, Bihar, West Bengal and Madhya Pradesh, which collectively accounted for 65 per cent of India’s extreme poor in 2011-12, contributed to two-thirds of the overall decline in extreme poverty by 2022-23.
“In absolute terms, people living in extreme poverty fell from 344.47 million to just 75.24 million,” showed latest data from the World Bank.
The World Bank’s assessment, based on the $3.00 per day international poverty line (using 2021 prices), shows a broad-based reduction across both rural and urban areas.
At $2.15 daily consumption – the earlier poverty line based on 2017 prices – the share of Indians living in extreme poverty is 2.3 per cent, which is significantly lower than 16.2 per cent in 2011-12, according to the World Bank’s estimates.
The number of people living below the $2.15-per-day poverty line is recorded at 33.66 million in 2022, down from 205.93 million in 2011, as per the latest data.
The data further showed that this sharp decline was uniformly observed, with rural extreme poverty falling from 18.4 per cent to 2.8 per cent and urban extreme poverty reducing from 10.7 per cent to 1.1 per cent in the last 11 years.
Moreover, India has also made remarkable progress in reducing multidimensional poverty.
The Multidimensional Poverty Index (MPI) dropped from 53.8 per cent in 2005-06 to 16.4 per cent by 2019-21 and further declined to 15.5 per cent in 2022-23, according to the data.
As the BJP-led NDA government at the Centre completes 11 years in office, PM Modi has highlighted the pathbreaking steps taken by the Centre for the uplift of people from poverty and its focus on empowerment, infrastructure and inclusion.
Initiative like PM Awas Yojana, PM Ujjwala Yojana, Jan Dhan Yojana and Ayushman Bharat have enhanced access to housing, clean cooking fuel, banking and healthcare.
Direct Benefit Transfer (DBT), digital inclusion and a robust rural infrastructure have ensured transparency and faster delivery of benefits till the last mile, helping over 25 crore people defeat poverty.
