Why India needs a 2024 poverty line
Interpretations of data paint exaggerated picture of prosperity
Interpretations of data paint exaggerated picture of prosperity
India has registered a significant decline in multidimensional poverty from 29.17% in 2013-14 to 11.28% in 2022-23.
Poverty remains "persistently" concentrated in states that are home to 45% of India's population but contain 62% of its poor
Calling it “remarkable”, UNDP says in India, incidence fell from 55.1% to 16.4%; deprivation in all indicators declined
Free food for 62.5% population implies that GDP growth and poverty alleviation schemes have not helped the poor; now India must go back to the drawing board.
The poorest and most vulnerable were hit the hardest – pushing 70 million people into "extreme poverty" in 2020 alone: World Bank
There happens to be a confluence of shocks hitting the world at a time there are very divergent recoveries in the world, says IMF's Gita Gopinath.
The trauma of distress migration of 2020, low wages, lack of social security and support systems in urban areas have combined to reduce the return of migrant workers to urban centres.
The pandemic has forced millions into poverty due to deaths, catastrophic healthcare cost and massive loss of jobs and businesses. This would keep the demand suppressed.
But a decline in revenue and profitability will impact Indian corporations’ ability to contribute to the social sector through CSR activities.