Context
Recent data from the World Poverty Clock shows that India has reduced the percentage of its population living in extreme poverty to below 3%.
Key Aspects
- According to the World Poverty Clock, fewer than 3 percent of the population currently live in extreme poverty, a condition it shows India has successfully wiped out.
- This milestone is in step with the United Nations’ 2030 Sustainable Development Goals.
- The poverty yardstick is $2.15 per day, and the numbers of people living below this fell from 4.69m in 2022 to 3.44m 2024.
- This is a marked decrease from 3.3% to 2.4%. It is a sign that between now and 2024, the international struggle against poverty has made headway.
India’s reports on Poverty Issues
- A recent discussion paper by NITI Aayog shows that multidimensional poverty in India has fallen from 29.17% to 11.28% over 2022-23, transferring a massive section of the country.
- This means 2482 million people escaped multidimensional poverty in just one recent nine year period.
- The paper employs data from NFHS surveys and projections to compute poverty rates 2005-06 through 2022-23.
- According to the Household Consumption Expenditure Survey, less than 5% of Indians will be below the poverty line by 2022-23 and the country has all but abolished extreme destitution.
Worlds’ Reports on Poverty
- A recent discussion paper from India ‘s NITI Aayog reported that multidimensional poverty fell dramatically from 29.17% in 2013-14 to 11.28% by 2022-23.
- So within nine years, approximately 2,482 million persons removed themselves from multidimensional poverty.
- The paper uses data from NFHS surveys and projections to calculate poverty rates over 2005-06 through 2022-2023.
- According to the Household Consumption Expenditure Survey, by 2022-23 less than 5% of India’s total population will fall below the poverty line. In other words, it will be a country free of extreme destitution.
About the World Poverty Clock
- This project provides modern poverty updates for nearly every country in the world, and is expected to stimulate people internationally with poverty statistics up to 2030. It monitors progress towards the UN’s first Sustainable Development Goal of ridding the earth of extreme poverty by 2030.
- The escape rate measures how fast poverty globally is now interdicted.
- Financers for the project are the International Fund for Agricultural Development and the Federal Ministry for Economic Cooperation and Development of Germany.
- It is possible to break down by age, sex, and whether they are rural or town the number of people living at world levels in extreme poverty.
- The clocks keep a tally of how many are escaping poverty, and how many falling into it.
Conclusion
India’s success in eradicating extreme poverty is a result of the government’s efforts to eliminate poverty through various policies and programs such as the public distribution scheme, employment generation schemes, the Pradhan Mantri Awas Yojana, the Start-Up India and Stand Up India schemes, and more.
Source: The Business Line
UPSC Mains Practice Question
Q.To eliminate poverty in India, the country must achieve a higher rate of economic growth. Examine the causes of poverty and the implementation of measures to combat it.
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