Tuesday, July 1, 2025

Creating liberating content

Related News

Shares of Mumbai-based real estate developer Kalpataru Ltd made a flat debut on the BSE and NSE on Tuesday, listing at Rs 414, the upper end of its IPO price

The US seeks market access for GM crops and cattle feed in India, which presents a delicate situation for New Delhi. (AI image) India-US trade deal: With Indian officials extending

The new RailOne app will host all passenger services in one app. Indian Railways launches new ‘RailOne’ app: With an aim to bring more convenience to passengers, Indian Railways has

File photo: PM Modi (Picture credit: PTI) Prime Minister Narendra Modi’s upcoming visit to Namibia on July 9, as part of his five-nation tour, is expected to boost strategic ties

Heart disease is the leading cause of death in the world, yet often its symptoms remain dormant for years, and only show up when the condition has worsened to the

While hydration is vital, what’s lesser known is when to drink water. Doctors who practise integrative medicine often avoid drinking water immediately before, during, or right after meals. Water intake

Trending News

The new RailOne app will host all passenger services in one app. Indian Railways launches new ‘RailOne’ app: With an aim to bring more convenience to passengers, Indian Railways has

Market participants are awaiting commentary from the US Federal Reserve Chairperson for directional guidance. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in

Representative image (Picture credit: PTI) Oil marketing companies have reduced the price of 19 kg commercial LPG gas cylinders by Rs 58.50, offering some respite to commercial users from July

Representative image (Picture credit: AP) Asian equities edged up on Tuesday while oil prices continued their decline amid uncertainty over US tariffs and expectations of increased crude supply by OPEC+.

Top stocks to buy (AI image) Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Tech Mahindra, and Trent are the top

Mumbai: The dollar ended June with its worst first-half performance in four decades. However, the dollar’s slide in the international markets has been masking the rupee’s weakness, which is seen

Big progress on poverty reduction! India’s poverty rate to come down further in 2024; SBI projects 4.6%

Word Count: 696 | Estimated Reading Time: 4 minutes


Big progress on poverty reduction! India’s poverty rate to come down further in 2024; SBI projects 4.6%
India has achieved substantial success in diminishing poverty rates. (AI image)

India’s poverty rate is expected to come down further to 4.6 per cent in 2024, according to a State Bank of India (SBI) report. A new World Bank report projects that India’s extreme poverty has come down drastically in the last ten years, from 27.12% to 5.25% in 2023. SBI’s report indicates a further reduction.The SBI report said “Poverty estimates by SBI and World Bank are remarkably similar…. SBI estimates it at 4.6 per cent in 2024…down from 5.3 per cent in 2023 as estimated by World Bank”.India has achieved substantial success in diminishing poverty rates, with current projections showing further improvement beyond the World Bank’s evaluation.The improved poverty measurements are attributed to contemporary data collection techniques and revised definitions. The recent Household Consumption Expenditure Survey (HCES) implemented the Modified Mixed Recall Period (MMRP) methodology, superseding the previous Uniform Reference Period (URP).According to the findings, this updated methodology employs briefer recall durations for frequently purchased items, resulting in more precise household consumption data.The adoption of modified survey methods has resulted in higher recorded consumption figures in national assessments, leading to decreased poverty estimates. For example, implementing MMRP in 2011-12 reduced India’s poverty rate from 22.9 per cent to 16.22 per cent using the previous USD 2.15 daily poverty threshold.The latest survey from 2022-23 indicates poverty at 5.25 per cent under the revised USD 3.00 daily threshold, whilst showing an even lower rate of 2.35 per cent under the former USD 2.15 benchmark.Also Read | 270 million pulled out of poverty! How Modi government achieved a remarkable dip in extreme poverty & what’s the road ahead? ExplainedThe World Bank’s recent adjustment of the global poverty threshold from USD 2.15 per day (2017 PPP) to USD 3.00 per day (2021 PPP) initially resulted in an additional 226 million people being classified as extremely poor globally.Nevertheless, India was a statistical outlier to this trend. The country’s updated consumption data and enhanced survey techniques contributed to reducing the global poverty count by 125 million.According to the SBI report, current poverty ratio calculations for India align with World Bank figures when accounting for variations in methodological approaches and parameter definitions.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account