Current Affairs - Economy - Discussion

The World Bank's latest report highlights India's significant achievement in reducing extreme poverty from 27.1% in 2011-12 to just 5.3% in 2022-23, using an updated poverty line of $3 per day (adjusted for inflation and purchasing power parity). This decline reflects the success of economic growth, welfare schemes (like food subsidies), and targeted poverty alleviation programs. The report also notes that 171 million people were lifted out of poverty in this period, with rural-urban gaps narrowing substantially. Despite global economic challenges, India's progress sets a benchmark for poverty reduction efforts worldwide.