what is the poverty rate in india 2023

what is the poverty rate in india 2023

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According to the National Multidimensional Poverty Index (MPI) Progress Review 2023, Indias multidimensional poverty rate declined significantly from 24.85% in 2015-16 to 14.96% in 2019-2021, which means that 135 million people escaped multidimensional poverty between 2015-16 and 2019-21. The rural areas witnessed the fastest decline in poverty, from 32.59% to 19.28% . The UNDPs Global Multidimensional Poverty Index (MPI) also reported that 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021, with incidence falling from 55.1% in 2005/2006 to 16.4% in 2019/2021. However, the India poverty rate for 2019 was 83.80%, a 1.2% increase from 2018, according to MacroTrends. The poverty estimates remain virtually unchanged, except for South Asia and Sub-Saharan Africa where there are upward revisions in poverty estimates. For example, the rate of extreme poverty, as measured by the international poverty line of $2.15, increases by 1.9 percentage points to 10.5% for South Asia. Therefore, it is unclear what the poverty rate in India will be in 2023.

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