4 charts that explain the World Bank's new data on India's poverty
NEW DELHI, Oct. 30 -- justify;">The World Bank has released its latest brief on poverty in India. "Over the past decade, India has made remarkable progress in reducing poverty across both monetary and non-monetary dimensions, recording one of the fastest poverty declines in the world," it said.
What exactly has been happening to poverty in India, a topic that triggered a big debate among economists not long ago? Here are some key data points from the World Bank update.
World Bank uses three measures of poverty. They capture income levels of $3, $4.2 and $8.3 per day in 2021 purchasing power parity terms. These three poverty lines capture extreme, lower middle-income class, and upper-middle income class poverty, respectively. Latest data...
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