Modi cites World Bank report on India's extreme poverty decline
Prime Minister Narendra Modi noted that 49.6 crore people moved out of poverty between 2011 and 2023.
Prime Minister Narendra Modi has lauded a World Bank report stating that India has achieved one of the quickest reductions in poverty globally, according to The Hindu.
In an Instagram post, the Prime Minister said the significant drop in poverty signifies a generational increase in opportunities. He also criticised the Congress party's 'Garibi Hatao' campaign, stating that his government views eradicating poverty as a steadfast commitment rather than just a slogan.
Citing the World Bank, Modi noted that 49.6 crore people escaped poverty between 2011 and 2023. This caused the extreme poverty rate to fall by 90 per cent, moving from more than one in four Indians to approximately one in 38.
The Prime Minister added that employment increased by 13.4 crore in six years, which he said was nearly twice the growth of India's working-age population. He also mentioned that the Gini Index, used to measure economic inequality, fell by over 20 per cent to 23.0.
The World Bank report, titled 'India Poverty and Equity Brief: October 2026', stated that India's extreme poverty rate fell from 27.1 per cent in 2011 to 2.6 per cent in 2023. These figures are based on an extreme poverty line of $3 per day and a lower-middle-income threshold of $4.20 per day, measured at 2021 purchasing power parity.