India made ‘remarkable progress’ in reducing poverty: World Bank
A World Bank report indicates that India has achieved significant progress in poverty reduction between 2011 and 2023, lifting nearly 500 million people out of poverty. The report highlights improvements in both monetary and non-monetary dimensions of living standards.
Why it matters
This data serves as a major indicator of India's economic development trajectory and the effectiveness of its inclusive growth policies.
New Delhi India has over the last decade made “remarkable progress” in reducing poverty across both monetary and non-monetary dimensions, the World Bank said in a new report, adding the country saw one of the fastest reductions in poverty in the world. “Between 2011 and 2023, the share of the population living below the Lower Middle-Income Country line ($4.2/day) fell from 57.7% to 16.1%, lifting an estimated 496 million people out of poverty, while extreme poverty ($3.00/day) declined from 27.1% to 2.6%,” the World Bank said in its October 2026 Poverty and Equity Brief for India released on Friday (October 30, 2026).
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