India lifted 496 million people above the $4.20-a-day poverty line between 2011 and 2023, marking one of the fastest declines in poverty globally, according to the World Bank.
Why it matters: Understanding India's economic progress and poverty alleviation efforts is crucial for exams focusing on economic development and international comparisons.
India's Remarkable Poverty Reduction
India has achieved a significant milestone by lifting 496 million people above the poverty line of $4.20 per day from 2011 to 2023. This achievement is recognized as one of the fastest declines in poverty globally, surpassing even China's rate of poverty reduction during a similar period.
Understanding the Poverty Line
The poverty line used in this context is set at $4.20 per day. This benchmark is used to assess the minimum income level required to meet basic living standards. The World Bank often uses such metrics to compare poverty levels across different countries and regions.
Global Context and Comparisons
India's rapid poverty reduction is particularly notable when compared to China's previous efforts in the same area. While both countries have made significant strides in reducing poverty, India's recent progress highlights its effective economic policies and growth strategies over the past decade.
Key facts
- India lifted 496 million people out of poverty.
- The poverty line is set at $4.20 per day.
- The period of poverty reduction is between 2011 and 2023.
- This achievement is noted by the World Bank.
In this story
Source: Rt-english.com