Business News: India Witnesses 10% Decline in Poor Class in Over 5 Years

09 Nov, 2023 Author: Ayushee Joshi

Latest Business: According to a United Nations Development Programme (UNDP) assessment, India is among the top countries in terms of significant income and wealth disparity. However, between 2015 and 2019-21, the proportion of the population living in multidimensional poverty fell from 25% to 15%. Between 2004 and 2019, the poverty rate dropped from 40% to 10% (based on the international poverty line of $2.15 per day).

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Number of Poor People in India

According to a study named Direction for Human Development in Asia and the Pacific, there has been a substantial drop in poverty, although it is concentrated in states with 45 percent of the country’s population, where 62 percent of the poor people reside. According to the survey, many people live just above the poverty line. Women, informal labourers, and interstate migrants are the groups most in danger of falling back into poverty. Meanwhile, women make up just 23% of the labour force. According to the research, India is also considerably contributing to the rise of the global middle class (those earning between $12 and $120 per day).