Poverty below 5%, extreme poverty rates minimal in India: SBI research

Daily Current Affairs / Poverty below 5%, extreme poverty rates minimal in India: SBI research

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Category : Business and economics Published on: January 06 2025

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According to SBI Research, the poverty ratio in rural areas declined to 4.86% in FY 2024 from 7.2% last year, registering a significant reduction in poverty.
The report said the rural-urban poverty gap has declined due to factors such as direct benefit transfer (DBT) schemes and creation of rural infrastructure, leading to economic recovery in rural areas.