New Delhi, March 2 (IANS) India has eliminated extreme poverty and is now ‘eligible’ to move to a higher poverty line, claimed Brookings, a US-based think-tank, in its report.
Citing a comprehensive set of data, it said that the country has registered a decline in headcount poverty ratio (HCR) and a significant jump in household consumption expenditure, which in turn has helped it in getting rid of ‘abject poverty’.
The report, authored by noted economists Surjit Bhalla and Karan Bhasin, saw the findings as an encouraging development and said, ‘time has come for India to graduate to higher poverty line, much like other developed counterparts.’
The Brookings report attributes the country’s ‘freedom’ from extreme poverty to PM Modi government’s policy thrust on redistribution under several welfare programs.
It says that the government’s sharp focus on providing basic amenities to the entire population via cooking gas, housing for all, toilet constructions, piped water, and electricity supply to urban as well as rural belts went a great deal in enabling and facilitating an environment for all-inclusive growth.
The government’s explicit focus on improving development indicators could have been the game-changer behind this change, says the report.
The report finds growth in per capita consumption, a decline in urban and rural inequality and a drastic decline in the country’s poverty index.
According to the Brookings Report, the real per capita consumption growth was recorded at 2.9 per cent per annum while rural growth was at 3.1 per cent per annum staying higher than urban growth of 2.6 per cent.
It also found an unprecedented decline in both urban and rural inequality. The urban Gini (x100) declined from 36.7 to 31.9; the rural Gini declined from 28.7 to 27.0.
“The Headcount Poverty Ratio (HCR) for the 2011 PPP$ 1.9 poverty line has declined from 12.2 per cent in 2011-12 to 2 per cent in 2022-23, equivalent to 0.93 percentage points (ppt) per year. Rural poverty stood at 2.5 per cent while urban poverty was down to 1 per cent, the report found.
“Incidentally, the decline in HCR at the higher poverty line is remarkable given that in the past it took 30 years for India to witness a similar decline in poverty levels as now witnessed over 11 years,” it said.
On a closing note, the report said India should now graduate to a higher poverty line, which would then provide an opportunity to redefine existing social protection programs in order to give greater support to the genuine poor.
–IANS
mr/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
