Extreme poverty rate in India falls

EXTREME poverty rate in India fell sharply to 5.3% over a decade from 27.1% in 2011-12 even as the World Bank revised upwards its threshold poverty line to $3 per day.

- ENS ECONOMIC BUREAU @ New Delhi

Given the country's inflation rate between 2017 and 2021, a revised extreme poverty line of $3 would constitute a 15% higher threshold than $2.15 expressed in 2021 prices and result in a 5.3% poverty rate in 2022-23, the World Bank said in a report.