India Pulls 269 Million Out of Extreme Poverty in a Decade, Says World Bank

A Landmark Achievement in Poverty Reduction  
India has made remarkable strides in poverty alleviation, lifting 269 million people out of extreme poverty between 2011-12 and 2022-23. According to the latest World Bank report, the proportion of Indians living in extreme poverty has plummeted from 27.1 percent to just 5.3 percent over the last decade. This transformation underscores the impact of economic growth, welfare programs, and digital inclusion in reshaping the country’s socio-economic landscape.  

Key Highlights of the Report  
- The number of people living in extreme poverty fell from 344.47 million in 2011-12 to 75.24 million in 2022-23.  
- Five states—Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh—accounted for 65 percent of India’s poorest in 2011-12 and contributed to two-thirds of the reduction in extreme poverty.  
- The World Bank revised the global poverty threshold from 2.15 dollars per day (2017 prices) to 3 dollars per day (2021 purchasing power parity terms). Despite the stricter metric, India’s poverty reduction trajectory remained strong.  
- Rural extreme poverty declined from 18.4 percent to 2.8 percent, while urban extreme poverty dropped from 10.7 percent to 1.1 percent.  

Government Initiatives Driving Change  
- Flagship programs such as PM Awas Yojana, PM Ujjwala Yojana, Jan Dhan Yojana, and Ayushman Bharat have played a crucial role in improving access to housing, clean cooking fuel, banking, and healthcare.  
- Direct Benefit Transfer (DBT) and digital inclusion have ensured transparency and faster delivery of benefits, helping millions rise above the poverty line.  
- Rural infrastructure development and employment generation schemes have contributed to sustained economic growth and poverty reduction.  

Global Perspective and Future Challenges  
- While India has made significant progress, global extreme poverty has increased under the new framework, with the World Bank revising its 2022 global poverty rate from 9 percent to 10.5 percent.  
- Development economists caution that inequality, climate vulnerability, and informal employment remain persistent challenges that need to be addressed.  
- Sustaining poverty reduction will require continued investment in education, healthcare, infrastructure, and climate resilience, particularly in rural and semi-urban areas.  

India’s success in poverty alleviation stands as a testament to its economic resilience and policy-driven approach. As the country moves forward, ensuring inclusive growth and equitable access to resources will be key to maintaining this momentum.  

Sources: MSN, Business Standard, Morung Express, Times Now, WION News