India made ‘remarkable progress’ in reducing poverty: World Bank
Report says the country saw one of the fastest reductions in poverty in the world; extreme poverty fell to 2.6% in 2023 from 27.1% in 2011, driven by government transfers and rising employment
The World Bank has reported that India has made significant strides in reducing poverty over the past decade, according to its latest Poverty and Equity Brief for India released on October 30, 2026. Between 2011 and 2023, the share of the population living below the Lower Middle-Income Country line of $4.2/day fell from 57.7% to 16.1%, lifting an estimated 496 million people out of poverty.
Extreme poverty, measured at $3/day, also declined from 27.1% to 2.6% during the same period. The report attributes these gains to inclusive development programmes, strong consumption growth, rising employment, especially among women, and expanded social transfers, including food subsidies. Finance Minister Nirmala Sitharaman welcomed the findings, crediting the government's sustained policy efforts under Prime Minister Modi's leadership for these tangible results and for strengthening the foundations for inclusive growth and greater economic opportunity.
Brief written by urgent.news from The Hindu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
