World bank Report States Extreme Poverty in India Decline by 12.3%

The extreme poverty rate in India fell from 22.5% in 2011 to 10.2% in 2019 as per World Bank Policy Research Working Paper. This represents a decline of 12.3 percentage points in extreme poverty count between 2011 to 2019 in the country. The decline in rural areas was much higher than in urban areas.

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While the reduction in rural poverty dropped by 14.7 percentage points, the poverty in urban areas dropped by 7.9 percentage points. The paper titled ‘Poverty has Declined over the last decade But Not As Much As Previously Thought’ was jointly authored by economists Sutirtha Sinha Roy and Roy van der Weide.

Important takeaways for all competitive exams:

• World Bank Founded: July 1944, Bretton Woods, New Hampshire, United States;
• World Bank Headquarters: Washington DC, USA;
• World Bank President: David Robert Malpass;
• World Bank Member Countries: 189 (including India).

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