27.1% to 2.6%: India sees one of world’s fastest poverty declines, but there’s a catch

The World Bank currently defines the international extreme poverty line at $3.00 per person per day in 2021 purchasing power parity (PPP) terms. According to the World Poverty Clock, extreme poverty may be considered eliminated when the poverty headcount ratio falls below 3%. With the World Bank estimating India’s extreme poverty rate at about 2% in 2024, India can, on this measure, be considered to have crossed that threshold.

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