New Delhi, Oct. 31 -- The government remains committed to build on its efforts to eradicate poverty, Union finance minister Nirmala Sitharaman said on Friday, commenting on the World Bank's latest report stating that India's extreme poverty drops from 27.1% to 2.6% in 12 years. Under the leadership of Prime Minister Narendra Modi, the government's sustained policy efforts are yielding tangible results, strengthening the foundations for inclusive growth and greater economic opportunity, she said in a post on X. "This is the reason why the NDA govt wins people's trust and mandate of our citizens," she said. "We remain committed to building on this progress through productive employment, stronger household incomes and effective delivery of public services, so that aspirations of our people are met," she added. The World Bank's October 2026 Poverty and Equity Brief records India's progress as one of the fastest poverty declines in the world, she said quoting from the report that said 496 million people moved above the lower-middle-income poverty line, measured at $4.20 of income a day, between 2011 and 2023, with the poverty rate declined from 57.7% to 16.1%. Extreme poverty, measured at $3 of income a day, declined from 27.1% to 2.6% over the same period. Both monetary poverty thresholds use 2021 purchasing power parity, she said quoting the report. She highlighted key findings of the report such as employment increased by 134 million people between 2017 and 2023, nearly twice the increase in the working-age population and rural women accounted for much of the employment gain, entering paid work and increasing the number of earners in their households. "Both rural and urban households experienced substantial welfare gains, with faster progress in rural India narrowing the rural-urban gap. Access to electricity reached 99% of the population, according to the report's 2022 survey data," she said. The World Bank identifies strong consumption growth, rising employment - especially among women-and expanded social transfers, including food subsidies, as major drivers, she added. The World Bank report said: "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." Spatially, India's poverty reduction story is one of both convergence and concentration, it said. "Households in both rural and urban areas experienced substantial welfare gains, with faster progress in rural India significantly narrowing the rural-urban gap," it added....