World Bank Report: India Lifts 171 Million Out of Extreme Poverty

In a major achievement, the World Bank’s latest report shows that India lifted 171 million people out of extreme poverty between 2011-12 and 2022-23. The percentage of Indians living on less than $2.15 a day fell dramatically from 16.2% to 2.3%, reflecting a decade of economic growth and targeted welfare schemes.

Experts attribute this progress to government programs like the Pradhan Mantri Awas Yojana, Swachh Bharat Mission, and rural employment schemes like MGNREGA. Increasing literacy rates, digital penetration, and financial inclusion have also played crucial roles in poverty alleviation.

The report positions India as a success story in global poverty reduction efforts. However, it also warns that continued efforts are needed to tackle income inequality, urban unemployment, and climate-induced economic challenges.