World Bank Report: 13 crore Indians extremely poor, earning less than181 rupees a day

New Delhi| About 12.9 crore Indians are living in extreme poverty in the year 2024. According to the World Bank report, the daily income of these Indians is less than Rs 181 ($2.15). In the year 1990, the number was 43.1 crore. According to the report, it may take more than a century to eliminate poverty in the world at the current pace. According to the World Bank report released on Tuesday, the poverty threshold for middle-income countries with a high poverty standard is 576 rupees ($6.85) per day, but more Indians are living below the poverty line in 2024 than in 1990 due to population growth Earlier, the World Bank had said that extreme poverty in India declined by 3.8 crore to 16.74 crore in 2021 after increasing in the last two years.

According to the World Bank, India’s contribution to global extreme poverty is expected to reduce significantly in the next decade. The estimate is based on growth in per capita gross domestic product (GDP) over the next decade, as well as historical growth rates. Even if the extreme poverty rate in India is reduced to zero in 2030, the worldwide extreme poverty rate will fall from 7.31 per cent to 6.72 per cent over this period, which is still well above the target of three per cent.

70 million people in the world are extremely poor
Poverty, prosperity and the earth
The report entitled Ways out of Multicrisis states that even today 44 per cent of the world’s population lives on less than Rs 576 per day. The number of people living below this poverty line has not changed significantly since 1990 due to population growth. 2020-2030 is about to be a lost decade. According to the report, at the current pace of progress, it will take decades to eradicate extreme poverty and more than a century to bring people’s daily earnings above Rs 576. 8.5 per cent of the global population, or 700 million people, are still living on less than Rs 181. It is estimated that 7.3 per cent of the population will be living in extreme poverty in 2030.

Poverty will increase in Africa
These new datasets were not included in the recently released 2022-23 Household Consumption and Expenditure Survey (HCES), the report said, because the required analyses could not be completed in a timely manner. The report’s key findings are strong such as the rise of extreme poverty in sub-Saharan Africa and developing countries and the out-of-reach elimination of extreme poverty by 2030.