World Bank Endorses PM Modi's Claim of Reducing Poverty in India

Meanwhile, India also transitioned into the lower-middle-income category.

- TDG NETWORK

Extreme poverty (living on less than USD 2.15 per day) fell from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23, lifting 171 million people in India above this line, according to a report by the World Bank.

This, in a way, is an endorsement of Prime Minister Narendra Modi's poverty reduction claims.

Over the past decade, India has significantly reduced poverty.

According to the Poverty & Equity Brief report of the World Bank released earlier this week, rural extreme poverty dropped from 18.4 per cent to 2.8 per cent, and urban from 10.7 per cent to 1.1 per cent, narrowing the rural-urban gap from 7.7 to 1.7 percentage points—a 16 per cent annual decline.

Meanwhile, India also transitioned into the lower-middle-income category.