India pulls 269 million out of extreme poverty in 11 years: World Bank

India has achieved a remarkable feat by lifting 269 million people out of extreme poverty over the past 11 years, according to the latest World Bank estimates. The country's extreme poverty rate plummeted from 27.1% in 2011-12 to just 5.3% in 2022-23. This significant reduction highlights the impact of targeted government policies and economic growth in improving the living standards of millions of Indians. The World Bank attributes this dramatic decline to a combination of factors, including increased access to education, healthcare, and social welfare programs. Economic reforms and initiatives aimed at boosting job creation and supporting small businesses have also played a crucial role. Additionally, technological advancements have facilitated greater financial inclusion, enabling more people to benefit from government schemes and services. Despite this progress, challenges remain. The World Bank cautions that sustaining this momentum requires continued focus on addressing inequality and ensuring that growth benefits all sections of society. As India navigates its path forward, maintaining a balance between economic expansion and social welfare will be key to further reducing poverty and enhancing the quality of life for its citizens.

— Authored by Next24 Live