49.6 crore Indians escaped poverty

India has recorded one of the fastest reductions in poverty globally, with an estimated 49.6 crore people moving above the lower-middle-income poverty threshold between 2011 and 2023, according to the World Bank. Its October 2026 Poverty and Equity Brief, released on October 30, described the country's progress as remarkable, highlighting significant improvements in household consumption, employment and access to basic services. India's Poverty Rate Falls From 57.7% to 16.1% The report found that the proportion of Indians living below the $4.20-a-day poverty threshold declined from 57.7% in 2011 to 16.1% in 2023. Extreme poverty, measured against the $3-a-day threshold, fell from 27.1% to 2.6% during the same period. Both thresholds are calculated using 2021 purchasing power parity. The World Bank expects poverty to decline further, projecting a rate of 12.1% by 2028 under the $4.20 benchmark. Employment Growth and Welfare Schemes Drive Progress The report identified rising household consumption, employment growth and government social transfers, including food subsidies, as important contributors to poverty reduction. India added approximately 13.4 crore employed people between 2017 and 2023, with rural women accounting for a substantial share of the increase. Multidimensional poverty also declined significantly, reflecting improvements across living standards, education and health-related indicators. Finance Minister Nirmala Sitharaman welcomed the findings, attributing the progress to government policies and welfare initiatives. World Bank Flags Wage Inequality and Youth Unemployment Despite the improvements, the World Bank highlighted persistent economic disparities. In 2023, median earnings among the highest-paid 10% of workers were approximately 13 times those of the lowest-paid 10%. Around 57% of India's poor population remains concentrated across a geographical belt extending from Uttar Pradesh to West Bengal. The report also noted that youth unemployment increased from 14.6% to 15.9% between the first quarters of FY2026 and FY2027. While India's poverty reduction represents substantial progress, the World Bank stressed the importance of productive employment, stronger earnings and broader economic opportunities to sustain these gains.

49.6 Crore Indians Escaped Poverty: World Bank

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