The World Bank has observed that India’s revamped consumption survey data has played a significant role in updating global poverty calculations, the Parliament was informed on Monday.
According to the World Bank, the rise in international poverty estimates reflects global price changes as well as improvements in country-level data quality.
Union Minister of State for Finance Pankaj Chaudhary told the Lok Sabha that India’s extreme poverty rate declined sharply – from 27.12 per cent in 2011-12 to 5.25 per cent in 2022-23. The number of people living in extreme poverty fell correspondingly from 34.4 crore to 7.5 crore during this period.
To better measure poverty, the government has developed a comprehensive National Multidimensional Poverty Index (MPI). As noted in NITI Aayog’s discussion paper “Multidimensional Poverty in India since 2005-06”, India’s multidimensional poverty is estimated to have dropped from 29.17 per cent in 2013-14 to 11.28 per cent in 2022-23—indicating that 24.8 crore people have exited poverty in less than a decade, the minister said.
Chaudhary emphasised that the government’s primary objective is to ensure development across all sections of society. This commitment to inclusive growth is reflected in the principle of “Sabka Saath, Sabka Vikas”, which focuses on reducing poverty and inequality, expanding social security, generating income and livelihood opportunities, and improving the well-being of vulnerable groups.
To achieve these goals, the government is implementing several targeted programmes aimed at promoting self-reliance and strengthening social protection systems.
The minister added that the government follows a multi-pronged strategy to reduce economic disparities, enhance social mobility, and ensure equitable participation in economic growth. Employment generation and improving workforce skills remain key priorities.
Citing the annual Periodic Labour Force Survey (PLFS), he noted that labour markets have not only recovered but surpassed pre-COVID levels in both rural and urban areas. The unemployment rate for individuals aged 15 and above declined from 5.8 per cent in 2018-19 to 3.2 per cent in 2023-24.
Additionally, the government continues to expand the Skill India Mission (SIM), which provides skilling, reskilling, and upskilling opportunities through an extensive network of training centres, educational institutions, and technical institutes across the country.
(IANS)
