Poverty in India will plunge to single digit in 2024-25

India has seen a “steep decline” in poverty headcount ration during the last nine years, under the leadership of Prime Minister Narendra Modi.

According to the National Multidimensional Poverty Index by NITI Aayog, the multidimensional poverty in India was found to decline from 29.17 per cent in 2013-14 to 11.28 per cent in 2022-23 (Projected).

The recent report on National MPI was based on National Family Health Survesy (2015-2016) and (2019-2021).

The National MPI measures simultaneous deprivations across three equally weighted dimensions of health, education, and standard of living that are represented by 12 sustainable development goal (SDG) aligned indicators.

24.82 crore people escaped poverty

The report further said, during the period, about 24.82 crore people escaped poverty, with fastest reduction in Uttar Pradesh, Bihar, and Madhya Pradesh

As per the report, Uttar Pradesh topped the list with 5.94 crore people escaping poverty. Bihar followed at 3.77 crore and Madhya Pradesh at 2.30 crore.

The report even mentioned that India is also likely to have achieved the sustainable development goal (SDG) 1.2 target of reducing poverty by half much ahead of 2030.

The report further said the latest data by World Bank indicated that the poverty headcount ratio in India at $2.15 a day decreased from 18.73 per cent in 2015 in 2015 to 11.9 per cent in 2021.

“With the ongoing rate of decline in India’s Multidimensional Poverty, the country is expected to reach single digit level of poverty by the year 2024-2025.

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