India's Extreme Poverty Rate Declines to 2.6 Percent
· India · Indian Express, Deccan Herald
India's extreme poverty rate fell to 2.6% in 2023, down from 5.3% in 2022-23 and 27.1% in 2011, according to World Bank data. The decline is attributed to strong consumption growth, increased employment, and expanded social transfers like food subsidies. Despite this progress, the report identifies persistent wage disparities, with the top 10% of workers earning 13 times more than the bottom 10%. Furthermore, poverty remains geographically concentrated, with 57% of the poor living in a belt stretching from Uttar Pradesh to West Bengal. While employment increased by 13.4 crore between 2017 and 2023, real earnings have remained largely stagnant due to a concentration of jobs in low-productivity sectors.
Why it matters
The data indicates significant progress in poverty alleviation for millions of Indians, though the persistence of wage gaps and low-productivity job growth poses challenges for long-term inclusive economic development.
Read the original report — Indian Express
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.