India has now officially eliminated ‘extreme poverty’, which can be seen through the sharp decline in headcount poverty ratio and stark increase in household consumption, American think tank Brookings said in a report.
The report, authored by Surjit Bhalla and Karan Bhasin, states that this has been a result of the government’s strong policy thrust on redistribution, which has led to strong inclusive growth in India over the last decade.
India has just released its official consumption expenditure data for 2022-23, providing the first official survey-based poverty estimates for India in over ten years.
According to the data, real per capita consumption growth has been recorded at 2.9 per cent per year since 2011-12. Under this, rural growth at 3.1 per cent was significantly higher than urban growth of 2.6 per cent
The data also presented an unprecedented decline in both urban and rural inequality.
