Poverty plunges

THE latest World Bank report offers a striking picture of India’s progress in alleviating extreme poverty. The rate has fallen to 5.3 per cent in 2022-23, a sharp decline from 27.1 per cent in 2011-12. In just over a decade, India has lifted nearly 270 million people out of extreme poverty — an unprecedented achievement in scale and pace. Behind this achievement lies a mix of targeted welfare programmes, economic growth and rural employment schemes that have helped shore up incomes for the poorest. Initiatives like the public distribution system, direct benefit transfers and expanded access to electricity, toilets and housing have contributed to improving the quality of life in rural and semi-urban India.