India’s Extreme Poverty Rate Drops from 27.1% to 5.3%: World Bank Report

A new World Bank report highlights a significant decline in India’s extreme poverty rate, from 27.1% in 2011–12 to 5.3% in 2022–23. This represents a historic decline, with the number of people living in extreme poverty falling from an estimated 344 million to 75 million in just over a decade. The report attributes the improvement to rising rural incomes, welfare schemes, better food security, and targeted development efforts. The findings reflect a major socio-economic shift and underscore India’s progress in poverty alleviation amid global challenges.

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