The Spring 2025 Poverty and Equity Brief from the World Bank recognized India's achievement in reducing extreme poverty by 171 million individuals from 2011-12 to 2022-23
An overview of the World Bank's brief on poverty and equity
Goal: These briefs, which are released twice a year, monitor trends in inequality, shared prosperity, and poverty in more than 100 developing nations.
Highlights of India:
Factors Contributing to the Reduction of Poverty: Welfare Initiatives: Programs such as PMAY, MGNREGA, and Ujjwala Yojana have broadened safety nets, with 11 crore households benefiting from LPG connections under Ujjwala.
Economic Reforms: The implementation of GST and reforms aimed at enhancing the Ease of Doing Business have stimulated growth in the formal sector, thereby increasing employment opportunities. Access to Basic Necessities: Programs like Ayushman Bharat and Jan Dhan Yojana have significantly improved healthcare access and financial inclusion.
Rural Development: Enhanced road connectivity through PMGSY and initiatives for rural electrification have boosted rural incomes and market access.
Empowerment of Women: The growth of rural female employment and entrepreneurship through Self-Help Groups (SHGs) has led to increased family incomes.
Report Analysis: Positive Aspects: Widespread Benefits: There has been a significant decline in both rural and urban poverty, reducing the rural-urban disparity from 7.7% to 1.7%.
Employment Growth: There has been a remarkable increase in female employment, with a notable rise in self-employment among rural women.
Inclusive Growth: States such as Uttar Pradesh, Bihar, and Maharashtra have made substantial contributions to the national effort in poverty alleviation.
Reduction of Inequality: An improved Gini index reflects a more equitable distribution of wealth.
In conclusion, India's remarkable success in elevating 171 million individuals from extreme poverty within a decade is both historic and of global importance. The acknowledgment from the World Bank underscores India's commitment to a policy-driven strategy for inclusive growth. Ongoing reforms, focused interventions, and the empowerment of informal sectors will be crucial in maintaining this progress towards a poverty-free India.
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