New Delhi: Around 129 million Indians are living in extreme poverty in 2024, a report by the World Bank revealed. These people are reportedly sustaining on less than USD 2.15 million (Rs 181 approx). Notably, it is less than 1990 when there were 431 million Indians in extreme poverty. However, if a higher poverty standard of USD 6.85 (Rs 576 approx.) per day is considered more Indians are living below the poverty line in 2024 as compared to 1990. The number is primarily driven by population growth.Notably, the World Bank had earlier stated that in 2021, extreme poverty in India had declined by 38 million to 167.49 million. The report titled ‘Poverty, Prosperity and Planet: Pathways out of the Polycrisis’, also revealed that it had not factored in the Household Consumption and Expenditure Survey (HCES) for 2022-23 released recently, reported ."These new datasets are not reflected in the report, since the necessary analysis could not be completed in time. While the precise impact of adding these two datasets on global poverty is unclear at the time of this writing, key conclusions of the report are robust, such as the increasing concentration of extreme poverty in Sub-Saharan Africa and fragile countries, and that extreme poverty eradication by 2030 is out of reach," the report stated.As per the World Bank, India’s contribution to global extreme poverty was expected to decline over the next decade. As per the report, 2020-2030 is considered a "lost decade" as global poverty reduction is slowing.“These estimates are based on projections of growth in GDP per capita over the next decade, as well as historical growth rates. Even setting the extreme poverty rate in India in 2030 to zero, the global extreme poverty rate in 2030 would only fall from 7.31 per cent to 6.72 per cent, still well above the 3 per cent target,” the report stated.The recent methodological changes in the latest Household Consumption and Expenditure Survey needed to be examined carefully, the report stated. Notably, India has been experimenting with various recall periods since 1999-2000 so that the accuracy of consumption data collection can be improved.In the 2011-2012 survey India utilised three recall periods. These were - the Uniform Recall Period (URP), Mixed Reference Period (MRP), and Modified Mixed Reference Period (MMRP). MRP was adopted for official poverty rate calculation during that period.
You may also like
Punjab holds camp for real estate certificates
'Only confirms ... ': India on Trudeau's admission of not providing 'hard proof' on Nijjar killing
'When I first experienced menopause I thought I was having a heart attack - now it's my passion'
Budy Bags $4.2 Mn To Simplify Sales & Marketing For Businesses
State Pension payment rise to be missed by nearly half a million people next year
Valmiki Jayanti 2024 Wishes Messages, Quotes, Images, Greetings And WhatsApp Status To Share
South By Southeast: Marriage Equality – Will India Heed The Thai Message?
Who Is Fuelling Discord In India's Electoral Politics?
Valmiki's Transformation From Thief to Sage: 5 Life Lessons Every Kid Should Learn From Ramayana Author Story
Editorial: Many Issues At Stake In The All-Important Maharashtra Poll
Guiding Light: Shifting Into The Neutral Gear Of Life
Kamala Harris emphasizes her break from Biden and slams Trump in fiery Fox interview
Working on prosecuting flight threat culprits: Government
Orchids will flower like crazy when watered with 1 natural kitchen scrap once a month
X Factor host Dermot O'Leary pays tribute to Liam Payne after One Direction star dies aged 31
'Implementing' Pak ideology? Bangladesh cancels all national days tied to Liberation War and Mujibur
Liam Payne's heartbreaking post about Kate Cassidy before tragic death aged 31
Cheryl's heartbreaking vow to ex Liam Payne after horror hospital dash
'I'm a gardener - plant these vegetables now to enjoy on your Christmas dinner'
Raytheon set to pay $950 million to resolve fraud and bribery charges