Facts for Prelims (FFP)
Source: Business Line
Context: India has made significant progress in reducing extreme poverty, with less than 3% of its population now living below the poverty line, according to the latest data from the World Poverty Clock.
- This achievement aligns with the United Nations’ Sustainable Development Goal (SDG) of ending extreme poverty by 2030.
- The World Poverty Clock monitors progress against ending extreme poverty, funded by organizations like IFAD and the Federal Ministry for Economic Cooperation and Development of Germany.
Key Findings:
- It calculates poverty rates based on income levels, with the poverty line set at $2.15 a day.
- As a result, the number of people living in extreme poverty in India has decreased to approximately 3.44 crore in 2024 from 4.69 crore in 2022, representing a decline to 2.4% of the total population.
- Additionally, a recent NITI Aayog discussion paper highlights the decline in multidimensional poverty in India, from 29.17% in 2013-14 to 11.28% in 2022-23.
The international poverty line of $2.15 a day is used to measure progress towards the World Bank’s target of reducing extreme poverty to less than 3% by 2030, while SDG target 1.1 aims for zero poverty by 2030.
