Thursday, August 11, 2022
HomeBusinessWorld Bank Report: Poverty of the country decreased rapidly during the tenure...

World Bank Report: Poverty of the country decreased rapidly during the tenure of PM Modi

World Bank Policy Research: A research has come out regarding poverty in the country. There has been a sharp decline in the number of very poor in India. India has declined by 12.3 per cent in eight years. According to a research by the World Bank Policy Research Working Paper, it has decreased by 12.3 percent in 2019 compared to 2011.

India ended extreme poverty

The World Bank’s Policy Research has said in its working paper that the number of poor in India was 22.5 percent in the year 2011, which has come down to 10.2 percent in 2019. This working paper further states that India has almost eliminated extreme poverty. Consumption inequality has been brought to its lowest level in the last 40 years due to various food schemes being run by the government in the country.

10 percent increase in the income of farmers every year

Let us inform that this paper has been jointly written by economists Sutirtha Sinha Roy and Roy van der Weide. According to the research paper, between 2011 and 2015, the rate of extreme poverty decreased by 3.4 percent. Between 2015 and 2019, the rate of extreme poverty declined by 9.1 percent, which is 2.6 times more than in 2011-15. According to the report, between 2013-19, the income of farmers having the smallest farm size also increased at the rate of 10 percent every year.

Poverty rate decline linked to increase in daily wages 

According to the report, the decline in the poverty rate is directly related to the increase in the daily wage. The maximum reduction in poverty came during 2017-18. During this time, the highest increase in the wages of unorganized workers (casual workers). Since 2011, there has been a rapid increase in daily wages and due to this the poverty rate started decreasing.

- Advertisement -
MOBILE

Auto

Two Wheeler

BUSINESS AND FINANCE

Digit News