The survey was conducted by a team of economists led by Sonal Desai.
The report highlights that urban areas also saw a decline in poverty, dropping from 13.4 per cent to 8.4 per cent.
India has made remarkable progress in reducing poverty, according to a new survey. The survey, published in a report by the Times of India, shows that the poverty rate has fallen from 21 per cent in 2011-12 to 8.5 per cent. This significant decrease reflects a major improvement in the living conditions of millions of Indians.
The survey was conducted by a team of economists led by Sonal Desai from the National Council of Applied Economic Research (NCAER). NCAER is India’s oldest and largest independent, non-profit economic policy research think tank. Established in New Delhi in 1956, it has gained national and international recognition over the decades.
The report highlights that poverty in rural areas has decreased sharply. In 2011-12, the rural poverty rate was 24.8 per cent. Now, it stands at 8.6 per cent. Urban areas also saw a decline in poverty, dropping from 13.4 per cent to 8.4 per cent.
This estimate surpasses the projections made by SBI Research, which had anticipated rural poverty to be at 7.2 per cent and urban poverty at 4.6 per cent. In March, former RBI governor C. Rangarajan and economist S. Mahendra Dev estimated, based on the Household Consumption Expenditure Survey (HCES), that India’s poverty rate would fall to 10.8 per cent in 2022-23, compared to 2011-12.
The initial findings of the India Human Development Survey, conducted by the Tendulkar Committee, also contributed to these estimates. The committee used an inflation-adjusted poverty line to assess the data. The government uses this data to plan and implement public welfare schemes more effectively.
Niti Aayog CEO, BVR Subramaniam, recently cited the latest household consumption expenditure survey, claiming that poverty in India has dropped below 5 per cent. The survey, conducted between August 2022 and July 2023, indicates that the government’s poverty alleviation measures are working.
Despite the positive trend, the survey also notes a high proportion of people who are at risk of falling back into poverty due to unforeseen tragedies. The overall decline in hereditary poverty is a promising sign.