CURRENT AFFAIRS
CURRENT AFFAIRS
Description
India has made significant strides in poverty reduction over the last decade. According to a World Bank report, the number of people living in extreme poverty has decreased, with 171 million individuals moving above the poverty line between 2011 and 2023. The report highlights the disparities between rural and urban poverty, showing a sharp decline in both sectors.
Key Statistics On Extreme Poverty
The percentage of people in extreme poverty in India dropped from 16.2% in 2011-12 to just 2.3% in 2022-23.
In rural areas, poverty fell from 18.4% to 2.8%, while urban poverty decreased from 10.7% to 1.1%.
The rural-urban poverty gap also narrowed from 7.7 to 1.7 percentage points during this period.
Transition To Lower-Middle-Income Status
India has transitioned into the lower-middle-income category, as defined by the World Bank. Using the $3.65 per day poverty line, poverty rates declined from 61.8% to 28.1%, lifting 378 million people out of poverty. In rural areas, poverty dropped from 69% to 32.5%, while urban poverty decreased from 43.5% to 17.2%.
Impact Of Major States
The five most populous states Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh were responsible for 65% of India’s extreme poor in 2011-12. By 2022-23, these states contributed to two-thirds of the overall reduction in extreme poverty. However, they still accounted for 54% of the country's extremely poor population.
Multidimensional Poverty Index (MPI)
The Multidimensional Poverty Index (MPI), which measures non-monetary aspects of poverty, fell from 53.8% in 2005-06 to 16.4% by 2019-21. By 2022-23, the MPI stood at 15.5%, indicating considerable progress in addressing poverty in various dimensions beyond income.
Income Inequality Trends
While the consumption-based Gini index improved from 28.8 in 2011-12 to 25.5 in 2022-23, the World Inequality Database highlighted rising income inequality. The Gini index for income grew from 52 in 2004 to 62 in 2023, illustrating ongoing wage disparities, with the top 10% of earners making 13 times more than the bottom 10% in 2023-24.
Employment Growth
Since 2021-22, employment growth has outpaced the growth of the working-age population. In the first quarter of FY24/25, urban unemployment dropped to 6.6%, the lowest level since 2017-18. Additionally, there has been a notable shift in male workers from rural to urban areas, while female participation in agriculture has increased.
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