Goa, June 8 -- India has made significant strides in reducing extreme poverty over the past decade, according to a recent report by the World Bank. The proportion of Indians living below the extreme poverty line-defined as earning less than USD 2.15 per day (at 2021 prices)-dropped from 16.2% in 2011-12 to just 2.3% in 2022-23. This marks a substantial decline, with an estimated 171 million people lifted out of extreme poverty during this period.

In 2024, the World Bank adjusted its global poverty threshold to USD 3 per day to reflect inflation and rising living costs. Even with this higher benchmark, India's poverty rate remains relatively low at 5.44%, with about 54.7 million people living below the new line. The revised threshold repr...