Modi government’s major achievement in 11 years, the number of poor people in India decreased from 27.1% to 5.3%: World Bank
Poverty in India The Modi government has won a big fight against. There has been a big decline in the number of poor in the country. According to the World Bank report, the number of people living in India’s extreme poverty declined rapidly in 2011-12 to 5.3 percent in 2022-23 in a decade to 27.1 percent. However, the World Bank has revised its poverty line limit to three dollars per day. The World Bank said in a report that in view of India’s inflation between 2017 and 2021, the revised high-$ 321 will be 15 percent higher than the $ 2.15 range expressed in 2021 prices and resulting in poverty rate of 5.3 percent in 2022-23.
Photo changed from free ration scheme
Free and discounted food grains reduced poverty and reduced the gap of rural-urban poverty. The report states that 54 percent of extremely poor people live in five most populous states. In the context of the economy, the report stated that by the last financial year 2024-25, India’s actual GDP was about five percent less than the epidered trend level. The report stated that the increase in the event of systematic resolve existing global uncertainties would gradually return to the potential level by 2027–28. The report states that however, the scenario has significant negative risk, as policy changes may continue globally. Increasing trade stress will reduce India’s export demand and further improve investment will be delayed.
Number of poor decreased rapidly in the last decade
According to the World Bank, “In the last decade, India has reduced poverty significantly. The World Bank in April said in its ‘poverty and equality brief’ on India that excessive poverty (living at less than $ 2.15 per day) decreased from 16.2 percent to 2.3 percent in 2022-23 in 2011-12, causing 17.1 million people to come above this line. It has come down to 2.8 percent, and in urban areas it has come down from 10.7 percent to 1.1 percent, which has reduced from 7.7 percent to 1.7 percent, which is a 16 percent annual decline. Crore increased, while India has reduced this figure. India gained a huge decrease in poverty despite the increased income limit.
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