Extreme poverty in India is 12.3 percent lower in 2019 than in 2011, with the poverty rate falling from 22.5% in 2011 to 10.2% in 2019, with a wider decrease in rural areas, according to the operative paper on policy studies. World Bank. This conclusion follows a World Bank extended work paper released by the International Monetary Council (IMF) that India has nearly destroyed extreme poverty.

The findings are the result of a working paper sent out by the International Fund (IMF) which says that India is on the verge of extinguishing extreme poverty and consumption inequality has reduced in the last 40 years due to food support from the government.

Poverty reduction was greater in rural India than in urban India, with rural poverty from 26.3% in 2011 to 11.6% in 2019 and in urban areas from 14.2% to 6.3% in the appropriate period, the report says.

"Rural and urban poverty have fallen by 14.7 and 7.9 percent, respectively, between 2011 and 2019," the world-wide paper worker said so far.

The paper was co-authored with economist Sutirta Sinha Roy and Roy van der Weide. The World Bank's Inquiry Officer Working Paper aims to promote the exchange of ideas on issues of development and the rapid dissemination of research events.

According to the study, smallholder farmers saw an increase in income. The report stated that "the real income of small-scale farmers increased by 10% over the year between the two cycles 2013 and 2019, compared to a 2% increase for farmers with the largest large-scale machinery."

The World Bank is an important document as India has no official estimate recently. The most recent National Labour Force Sample Survey (NSSO) survey was released in 2011, when official estimates of poverty and inequality in the country were also released.

The authors explain: "This paper highlights the evolution of poverty and inequality since 2011 using a new local survey, the Household Consumption Pyramid Study conducted by the private data collection community." Due to dated quality issues, the Ministry of Statistics and Program Implementation (MOSPI) decided in November 2019 to publish the results of the Consumer Cost Survey 2017-2018.

According to a World Bank research report, urban poverty in India has increased by 2 percentage points in 2016 due to circulation, while rural poverty has increased by 10 points in 2019, consistent with economic slowness. We found two examples of increased poverty during the study period: urban poverty increased by 2 percentage points in the 2016 circulation year and later declined sharply; Rural poverty increased by 10 basis points in 2019, likely due to slower growth.

   

The newspapers also mentioned consumer inequalities. “Consumption inequality has been detected slightly since 2011, but by a smaller margin than in the 2017 unpublished NSS survey indicated. Finally, the magnitude of poverty reduction for the period 2015-2019 is estimated to be much lower than previous projections of consumption deprivation growth on national statistical accounts.

Also Read: PPF Scheme: Do You Really Need It? This Will Help You Decide!