Finshots Daily Did India just cut global poverty?
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Jun 10, 2025 The discussion highlights the World Bank's recent update to the International Poverty Line and its significance. India has played a crucial role in reducing global poverty rates through improved data collection and effective welfare measures. Surprisingly, these efforts have led to a notable decrease in extreme poverty within the country. Tune in to explore the implications of these findings and their impact on global poverty statistics.
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India's Data Revises Global Poverty
- India's updated consumption data showed far fewer people living in extreme poverty than earlier estimated.
- This revision offset a large portion of the global increase in poverty numbers after raising the International Poverty Line.
Accurate Data Changed Poverty Estimates
- India's new household consumption survey used a Modified Mixed Recall Period to capture spending more accurately.
- This method reduced underreporting of frequently purchased items and broadened the spending categories measured.
States Lead Poverty Reduction Efforts
- States like UP and Maharashtra reduced poverty by two-thirds through welfare schemes over the past decade.
- Programs like PM Awas Yojana and PM Ujjwala Yojana played a key role in this real progress.