India lifts 171 million out of poverty, World Bank reports, but challenges remain in reducing inequalities and unemployment.

India has made remarkable progress in poverty alleviation, according to the latest report from the World Bank. Between 2011-12 and 2022-23, the country lifted a staggering 171 million people out of extreme poverty, bringing the poverty rate down to 2.3%. When considering a poverty line of $3.65 per day, the number of individuals lifted out of poverty increases to 378 million. Despite these achievements, India still faces challenges such as youth unemployment and gender disparities in employment, even as overall employment rates are on the rise. The report highlights the need for continued efforts to address these issues and ensure sustainable economic growth that benefits all segments of society.

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