More Indians are living below the poverty line in 2024 than in 1990 - World Bank Report
The World bank had earlier reported that after rising in the two years prior, the number of people living in extreme poverty in india has decreased to 167.49 million in 2021. However, it was made clear in the "Poverty, Prosperity and Planet: Pathways out of the Polycrisis" study that the newly released Household Consumption and Expenditure survey (HCES) for 2022–2023 did not take these new datasets into account. "The report does not include these additional datasets since the required analysis could not be finished in time. The report's main conclusions—that extreme poverty cannot be eradicated by 2030 and that it is increasingly concentrated in Sub-Saharan Africa and fragile nations—are sound, even though it is unclear how exactly these two datasets will affect global poverty as of this writing.
India's role in the world's severe poverty is expected to drastically decrease during the next ten years, according to the World Bank. These calculations are based on historical growth rates as well as forecasts for GDP per capita growth over the following ten years. The worldwide severe poverty rate in 2030 would only decrease from 7.31 percent to 6.72 percent, still much above the 3 percent objective, even if the extreme poverty rate in india were reduced to zero, the report continued.
> Poverty in india declined by 38 million in 2021 after a surge in the previous two years
> Global poverty reduction is slowing, making 2020-2030 a "lost decade" for progress
> India's contribution to global extreme poverty is expected to decrease over the next decade