Latest news with #WorldBank.
Economic Times
3 days ago
- Business
- Economic Times
270 million Indians out of extreme poverty list: World Bank
India has made remarkable progress in reducing extreme poverty. World Bank data shows nearly 270 million people moved out of extreme poverty between 2011-12 and 2022-23. The poverty rate fell significantly, even with a raised global poverty threshold. This achievement highlights India's commitment to evidence-based governance and sustained reforms. Spending inequality has also narrowed across the country. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Nearly 270 million people moved out of extreme poverty in India between 2022- 23 and 2011-12, when their number shrank to 5.3% of the population from 27.1%, according to latest data released by the World achievement comes even as the multilateral lender raised the global threshold to measure extreme poverty to $3 per person per day from $2.15 and incorporated the 2021 purchasing power parity (PPP) for the calculation.'While the change (in threshold) led to a global increase in the count of extreme poverty by 125 million, India emerged as a statistical outlier in a positive direction,' the government said in a statement absolute numbers, the population living in extreme poverty in India fell to 75.2 million in 2022-23 from 344.5 million 11 years earlier.'In the face of a raised poverty benchmark, India showed that more honest data, not diluted standards, can reveal real progress,' the government transitioned to a Modified Mixed Recall Period method from the Uniform Reference Period in its Household Consumption Expenditure Survey (HCES), a change that resulted in higher measured consumption and subsequently lower poverty the revised poverty line would have added 226 million people to the count of extremely India's methodology revision partially offset the World Bank raised the global extreme poverty rate for 2022 to 10.5% from the earlier estimate of 9%, increasing the number of people living below the poverty line, increasing the number of people living below the poverty line to 838 million from 713 million.'Given India's share of the global population, its methodological changes matter for the global poverty trends,' the World Bank noted. Using the previous $2.15 (2017 PPP) poverty line, the World Bank reported a 1.3-percentage-point drop in global extreme poverty to 7.7% in 2022, largely due to 125 million fewer extreme poor people in on this earlier benchmark, the share of Indians living below the poverty line fell to 2.4% in 2022- 23 from 16.2% in 2011-12, according to the data from the World Bank.'As the global community recalibrates poverty goals, India's example sets a precedent: evidencebased governance, sustained reforms, and methodological integrity can together deliver transformational outcomes,' said the inequality narrowed across India, according to the HCES 2023-24. In rural areas, the average monthly per capita consumption expenditure increased
Time of India
3 days ago
- Business
- Time of India
270 million Indians out of extreme poverty list: World Bank
India has made remarkable progress in reducing extreme poverty. World Bank data shows nearly 270 million people moved out of extreme poverty between 2011-12 and 2022-23. The poverty rate fell significantly, even with a raised global poverty threshold. This achievement highlights India's commitment to evidence-based governance and sustained reforms. Spending inequality has also narrowed across the country. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Nearly 270 million people moved out of extreme poverty in India between 2022- 23 and 2011-12, when their number shrank to 5.3% of the population from 27.1%, according to latest data released by the World achievement comes even as the multilateral lender raised the global threshold to measure extreme poverty to $3 per person per day from $2.15 and incorporated the 2021 purchasing power parity (PPP) for the calculation.'While the change (in threshold) led to a global increase in the count of extreme poverty by 125 million, India emerged as a statistical outlier in a positive direction,' the government said in a statement absolute numbers, the population living in extreme poverty in India fell to 75.2 million in 2022-23 from 344.5 million 11 years earlier.'In the face of a raised poverty benchmark, India showed that more honest data, not diluted standards, can reveal real progress,' the government transitioned to a Modified Mixed Recall Period method from the Uniform Reference Period in its Household Consumption Expenditure Survey (HCES), a change that resulted in higher measured consumption and subsequently lower poverty the revised poverty line would have added 226 million people to the count of extremely India's methodology revision partially offset the World Bank raised the global extreme poverty rate for 2022 to 10.5% from the earlier estimate of 9%, increasing the number of people living below the poverty line, increasing the number of people living below the poverty line to 838 million from 713 million.'Given India's share of the global population, its methodological changes matter for the global poverty trends,' the World Bank noted. Using the previous $2.15 (2017 PPP) poverty line, the World Bank reported a 1.3-percentage-point drop in global extreme poverty to 7.7% in 2022, largely due to 125 million fewer extreme poor people in on this earlier benchmark, the share of Indians living below the poverty line fell to 2.4% in 2022- 23 from 16.2% in 2011-12, according to the data from the World Bank.'As the global community recalibrates poverty goals, India's example sets a precedent: evidencebased governance, sustained reforms, and methodological integrity can together deliver transformational outcomes,' said the inequality narrowed across India, according to the HCES 2023-24. In rural areas, the average monthly per capita consumption expenditure increased
India Today
24-04-2025
- Politics
- India Today
Every drop is ours: Pak calls India's Indus treaty suspension water warfare
Pakistan has called India's decision to suspend the Indus Waters Treaty following the Pahalgam terror attack an act of "water warfare" and an illegal move. Vowing to challenge the move legally, Pakistan said India cannot unilaterally exit from a treaty that involves global organisations like the World Bank."India's reckless suspension of the Indus Waters Treaty is an act of water warfare; a cowardly, illegal move. Every drop is ours by right, and we will defend it with full force - legally, politically, and globally," Pakistan's energy minister Awais Leghari tweeted. advertisementThe minister's reaction came as Pakistan's top security body, the National Security Committee (NSC), held a meeting to assess India's slew of measures against the country following the terror attack in the tourist hub of Pahalgam that left 26 dead. The Resistance Front (TRF), an offshoot of the Pakistan-based terror outfit Lashkar-e-Taiba, has claimed responsibility for the Centre has also decided to expel diplomats and defence officials from the Pakistan High Commission in Delhi, close the Wagah-Attari land border and cancel the SAARC Visa Exemption Scheme visas (SVES).India's moves signal that it holds Pakistan indirectly responsible for the massacre even though the country has washed its hands of the incident - one of the deadliest terrorist attacks in Kashmir in recent per the treaty brokered by the World Bank in 1960, 80% of the water flow from the Indus system is provided by India to Pakistan as an upper riparian state. A decision to suspend the treaty will impact Pakistan's agricultural RESPOND TO INDIA WORD BY WORD'According to the Pakistani media, foreign minister Ishaq Dar has dismissed allegations against Pakistan as baseless. "If India has any evidence (on the Pahalgam attack), it should present it," Dar have told India Today that a preliminary probe indicated that both Pakistani and local Kashmiri terrorists were involved in the minister further said Pakistan would respond to the decisions of the Narendra Modi-led government "word by word"."This is nothing but a political ploy. India is trying to blame Pakistan for its own failures," Samaa TV quoted Dar as Minister Khawaja Asif said Pakistan won't bow to any pressure tactic by India and warned of a "strong and effective" response."They have been trying to get out of the Indus treaty for a long time... The World Bank is also involved. India cannot make this decision alone," he Watch
