India has made remarkable strides in reducing extreme poverty, with the World Bank reporting that 171 million people were lifted out of poverty between 2011-12 and 2022-23, bringing the poverty rate down to 2.3%. According to the World Bank’s calculations using a poverty line of $3.65 per day, a total of 378 million individuals have been lifted out of poverty during this period. This progress is a testament to India’s commitment to poverty alleviation and economic development. However, despite these achievements, the country still faces challenges such as youth unemployment and gender disparities in employment. It is crucial for policymakers to address these issues to ensure that the benefits of economic growth are distributed equitably among all segments of the population. As India continues on its path towards prosperity, it is essential to prioritize inclusive and sustainable development strategies that promote job creation and empower marginalized communities. By addressing these challenges effectively, India can build a more resilient and inclusive economy that benefits all its citizens.
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India lifts 171 million out of extreme poverty, challenges persist: World Bank’s report.
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