India's poverty will be down from 14.2% to 12.1% in 2 years: World Bank
The World Bank projects that India's poverty rate will decrease from 14.2% in 2026 to 12.1% by 2028, citing strong consumption growth and increased employment. Finance Minister Nirmala Sitharaman credited the government's policy efforts for this progress in poverty reduction.
Why it matters
This report serves as a key economic indicator for India's development trajectory and validates the current administration's social and economic policies.
NEW DELHI: World Bank has said that poverty in India, defined at $4.2 a day, will decline from 14.2% in 2026 to 12.1% by 2028.Between 2011 and 2023, it is estimated that the share of the population living below $4.2 a day declined from 57.7% to 16.1%, lifting an estimated 496 million people out of poverty. It said that extreme poverty ($3 a day) declined from 27.1% to 2.6% during this period."This progress was mainly driven by strong consumption growth; rising employment, especially among women; and expanded social transfers, including food subsidies. As poverty declined, it became increasingly concentrated among households with lower education, fewer assets, limited access to stable employment, and higher dependency ratios.
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