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India has made significant strides in reducing poverty, with rates dropping to 8.5% in 2022-24 from 21.2% in 2011-12, according to a research paper released by the National Council of Applied Economic Research (NCAER).
The paper titled ‘Rethinking Social Safety Nets in a Changing Society’, authored by Sonalde Desai of NCAER, utilized data from the India Human Development Survey (IHDS), encompassing Waves 1, 2, and 3. It highlighted that despite challenges posed by the pandemic, poverty has consistently declined over the past decade.
“According to IHDS findings, poverty in India saw a notable decrease from a headcount ratio of 38.6 in 2004-05 to 21.2% in 2011-12, and further dropped to 8.5% in 2022-24,” the paper stated.
The report emphasized that economic growth has played a pivotal role in this poverty reduction but underscored the need for agile social protection programs to sustain progress. It noted that traditional strategies aimed at chronic poverty need adaptation as societal dynamics evolve.
“In an era of expanding economic opportunities, the underlying causes of poverty may shift, with temporary setbacks like natural disasters and health crises gaining prominence over long-term structural issues,” the paper highlighted.
Earlier assessments by NITI Aayog CEO B V R Subrahmanyam had indicated a similar downward trend, suggesting poverty levels could be as low as 5% in recent times, reflecting improved living standards across rural and urban areas.
The latest data from the National Sample Survey Office (NSSO) revealed a substantial increase in per capita monthly household expenditure in 2022-23 compared to 2011-12, indicative of improved economic conditions.
Sources By Agencies
