Extreme poverty in India declined by 12.3 percentage points during 2011-2019

Tags: Economy/Finance International News

According to the World Bank Report Poverty in India is 12.3 percentage points lower in 2019 as compared to 2011. 

• The poverty headcount rate has declined from 22.5 percent in 2011 to 10.2 percent in 2019. 

• As per a policy research working paper of World Bank, Poverty reduction was higher in rural areas as compared to urban India. 

• Rural poverty dropped by 14.7 percent while urban poverty declined by 7.9 percentage points during 2011 to 2019.

• Study says that farmers with small landholding sizes have experienced higher income growth.

• Real incomes for farmers with the smallest landholdings have grown by 10 percent in annualised terms between the two survey rounds in 2013 and 2019 compared to a 2 percent growth for farmers with the largest landholding.

• Extreme poverty has been measured in terms of the number of people living on less than $1.90 a day (roughly Rs 145).

• About World Bank

– The World Bank is a provider of financial and technical assistance to individual countries around the globe. 

–it comprises 189 countries and five constituent institutions that work towards eradicating poverty and creating prosperity. 

–Currently, the World Bank has two stated goals that it aims to achieve by 2030.

–The first is to end extreme poverty by decreasing the number of people living on less than $1.90 a day to below 3% of the world population. 

–The second is to increase overall prosperity by increasing income growth in the bottom 40% of every country in the world.

–HQ : Washington DC (USA)