January 3, 2025 4:30 PM
India’s poverty rate falls below 5% in 2024, extreme poverty nearly eradicated: SBI Report
In 2024, India’s poverty rate has fallen below 5%, with extreme poverty nearly eradicated, according to a research study by the State Bank of India (SBI). The report estimates that national poverty rates are now between 4-4.5%, marking a significant improvement in living conditions across the country. SBI’s findings, supported by data from the government’s Consumption Expenditure Survey, show that rural poverty dropped to 4.86% in FY24, a sharp decline from 7.2% in FY23 and 25.7% in FY12...
