Why is it in the news?
- Recent data from the World Poverty Clock indicates that India has achieved substantial progress in reducing extreme poverty, with less than 3% of its population living below the poverty line.
- This achievement aligns with the United Nations’ Sustainable Development Goal (SDG) 1.1, which aims to eradicate extreme poverty globally by 2030.
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- The number of people in India living in extreme poverty decreased from approximately 4.69 crore in 2022 to about 3.44 crore in 2024, accounting for 2.4% of the total population.
- The World Poverty Clock utilizes a daily income threshold of $2.15 to assess poverty levels, which corresponds to the extreme poverty line in many of the world’s poorest countries.
| NITI Aayog’s Recent Paper on Poverty · A recent paper by NITI Aayog titled ‘Multidimensional Poverty in India since 2005-06’ highlights a substantial decline in multidimensional poverty from 29.17% in 2013-14 to 11.28% in 2022-23. · Over a nine-year period, this led to approximately 24.82 crore individuals escaping multidimensional poverty. · The paper examines the prevalence of multidimensional poverty in India from 2005-06 to 2022-23, providing insights into the long-term trends and dynamics of poverty reduction. About the World Poverty Clock · The World Poverty Clock aims to provide real-time poverty forecasts until 2030 for nearly every country globally, offering valuable insights into poverty trends and dynamics. · Supported by the International Fund for Agricultural Development (IFAD) and the Federal Ministry for Economic Cooperation and Development of Germany, the World Poverty Clock receives funding to sustain its operations and research endeavours. · The Clock tracks the global count of individuals living in extreme poverty, segmenting them based on age, gender, and rural or urban residence. · It continuously updates poverty estimates to reflect changes in poverty status, capturing individuals transitioning in and out of poverty in real-time.
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