New Delhi, Oct. 30 -- India lifted an estimated 496 million people out of poverty between 2011 and 2023, with the share of the population living in extreme poverty declining sharply from 27.1% to 2.6%, according to the World Bank's October 2026 Poverty and Equity Brief.

The report said the proportion of people living below the lower-middle-income poverty line of $4.20/day, measured at 2021 purchasing power parity (PPP), also fell from 57.7% to 16.1% during the period.

Describing the progress as "one of the fastest poverty declines in the world", the World Bank said India had recorded improvements across both monetary and non-monetary measures of poverty.

The report attributed the decline mainly to strong consumption growth, rising empl...