Reduction in India’s Poverty

The recent Household Consumption Expenditure Survey (2022–23) and National Statistical Office (NSO) estimates for 2023–24 indicate a significant reduction in poverty and consumption inequality in India.

Key Points

• Sharp Decline: India’s total poverty ratio dropped from 29.5% in 2011-12 to 4.9% in 2023-24, highlighting steady gains over the last decade. This reduction in the poverty gap has been particularly pronounced in India’s poor states, including those traditionally considered the poorest states in India.
• Faster Drop: Poverty fell 2.05 percentage points annually between 2011-12 and 2023-24, only slightly lower than 2.2 points during 2004–05 to 2011–12.
• Rural Improvement: Rural poverty line rose from ....