India has officially eradicated extreme poverty, attributing the achievement to robust redistribution policies fostering inclusive growth, according to a report by Surjit Bhalla and Karan Bhasin. Notable progress in consumption expenditure data reveals a 2.9% annual growth since 2011-12, with rural areas experiencing higher growth.
The decline in rural and urban inequality, coupled with a significant drop in the poverty ratio, underscores India's poverty alleviation success.
#India #IndiaPoverty #Indianews #PMModi #Brookings #Poverty #Povertycrisis #Indianews #Indiaupdates #Oneindia #Oneindianews
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The decline in rural and urban inequality, coupled with a significant drop in the poverty ratio, underscores India's poverty alleviation success.
#India #IndiaPoverty #Indianews #PMModi #Brookings #Poverty #Povertycrisis #Indianews #Indiaupdates #Oneindia #Oneindianews
~HT.178~ED.194~PR.152~GR.124~
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NewsTranscript
00:00 India has reached a significant milestone by officially eradicating extreme poverty
00:15 as a report by Surjit Bhalla and Karan Bhasin of Brookings claim.
00:20 This achievement is attributed to the government's robust policies focused on redistribution
00:24 and fostering inclusive growth.
00:26 The report also advocates for revising the poverty lines now to enhance social protection
00:30 programmes for better targeting and support the generally impoverished in the region now.
00:36 India's latest consumption expenditure for 2022-23 reveals a notable progress with real
00:41 per capita consumption growing at 2.9 per cent annually since 2011-12.
00:47 The rural areas have witnessed higher growth at 3.1 per cent compared to the urban areas
00:52 with just 2.6 per cent, leading to a remarkable decline in both urban and rural inequality.
00:58 The Guinea Index for Urban and Rural Areas exhibited a significant drop, an unprecedented
01:03 feat in inequality analysis.
01:05 According to the World Poverty Clock, only 2 per cent of India's population, that is
01:09 around 3.4 million individuals, are now living under extreme poverty.
01:14 This marks a substantial reduction from previous years, showcasing the effectiveness of poverty
01:18 elevation efforts.
01:20 The report also claims that rural poverty stands at 2.5 per cent and urban poverty now
01:25 stands at 1 per cent only.
01:28 However, these estimates exclude the impact of government's free provided food and public
01:32 health and education services, suggesting even greater strides in poverty elevation.
01:37 Despite challenges, India's rural areas have experienced a significant consumption growth
01:42 reflecting the success of redistributive policies.
01:45 The report emphasises the need for continuing to prioritise these initiatives to sustain
01:49 progress and ensure inclusivity among India.
01:53 Overall, India's achievement in eliminating extreme poverty signifies a transformative
01:57 shift in its socio-economic landscape.
02:00 Moving forward, recalibrating poverty lines and enhancing social protection programmes
02:05 will be crucial to consolidate these gains and uplift the vulnerable segment of the society.
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