Daily Current Affairs / World Bank: India’s extreme poverty rate drops to 5.3% in 2022-23 Rewritten:
Category : Business and economics Published on: June 10 2025
According to a World Bank report, India's extreme poverty level fell to 5.3% in 2022-23, down from 27.1% in 2011-12. The revised poverty threshold was raised to $3 per day due to inflation adjustments between 2017 and 2021. In 2024, 5.44% of Indians (about 54.7 million people) were living under this benchmark. The extreme poverty rate fell dramatically, while the poverty rate at the lower middle-income line dropped by 33.7 percentage points.
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