India made remarkable progress in reducing poverty, says World Bank

The World Bank reported that India lifted an estimated 496 million people out of poverty between 2011 and 2023, reducing the population living below $4.20 a day from 57.7% to 16.1%.

Extreme poverty based on the $3.00 per day threshold declined sharply from 27.1% to 2.6% over the same twelve-year period.

Finance Minister Nirmala Sitharaman welcomed the findings, attributing the progress to strong consumption growth, rising female employment, and expanded social welfare programs.