- Extreme poverty in India dropped to 10.2% in the pre-Covid year of 2019 from as much as 22.5% in 2011 and the pace of reduction in rural India has been more dramatic than in urban areas, according to a World Bank working paper
- Also, the pace of poverty reduction in rural India has been more than in urban areas of the country.
- The poverty level in rural and urban areas declined by 14.7 and 7.9 percentage points, respectively, during the 2011-2019 period.
- While it eased to 11.6% in rural areas in 2019, the urban poverty level stood at 6.3%.
- In 2016, the year of demonetization, urban poverty rose by 2 percentage points while rural poverty rose by 10 basis points in 2019.
- The paper reported that the consumption inequality in India eased after 2011, with barely any change noticed between the periods 2015 and 2019.
Tags:
Economics
