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World Bank Reports Extreme Poverty Fell To 2.6% In India By 2023
The World Bank reported India's extreme poverty fell to 2.6% in 2023, lifting 496 million people out of poverty between 2011 and 2023.
Key points
- The World Bank reported India's extreme poverty dropped from 27.1% to 2.6% between 2011 and 2023.
- Finance Minister Nirmala Sitharaman credited rising female employment and food subsidies for the poverty decline.
- The report projects the poverty rate below $4.20/day will fall to 12.1% by 2028.
Why it matters. These findings indicate successful government policy efforts in inclusive growth and economic opportunity, potentially strengthening public trust in the administration.
The World Bank released an October 2026 report stating India reduced extreme poverty from 27.1% to 2.6% between 2011 and 2023, lifting 496 million people out of poverty. Finance Minister Nirmala Sitharaman attributed these results to strong consumption growth, rising employment among women, and expanded social transfers including food subsidies. The report projects the poverty rate below the $4.20/day line will fall further to 12.1% by 2028, while electricity access reached 99% of the population.
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World Bank Reports Extreme Poverty Fell To 2.6% In India By 2023
The World Bank stated in a new report that India has made remarkable progress in reducing poverty across both monetary and non-monetary dimensions. Data shows that extreme poverty fell to 2.6% in 2023, down significantly from 27.1% in 2011. Between 2011 and 2023, 496 million people moved above the $4.20-a-day poverty line. This reduction was driven by government transfers and rising employment rates. The country saw one of the fastest reductions in poverty in the world during this period.