What is the poverty rate in India in 2024?
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As of 2024, India’s poverty rate has seen significant improvements across various measures. Extreme poverty, defined by the World Bank’s $1.90 per day poverty line, has been effectively eliminated, with the rate now standing at 0%. However, when considering the $3.20 per day poverty line, which is more relevant for lower-middle-income countries like India, the poverty rate is approximately 20.8% (India Today) (Press Information Bureau).
Furthermore, India’s multidimensional poverty rate—which includes factors beyond income, such as education, health, and living standards—has also seen a dramatic decline. The proportion of people in multidimensional poverty fell from 29.17% in 2013-14 to 11.28% in 2022-23 (Press Information Bureau).
These reductions are attributed to various government initiatives aimed at improving healthcare, housing, and financial inclusion (India Today). Nonetheless, some reports suggest that while these official figures indicate substantial progress, there is still debate over the true extent of poverty due to potential gaps in data and survey methodologies (FortuneIndia).