India’s extreme poverty falls from 27.1% to just 2.6%, says World Bank: How big is this achievement?

India's extreme poverty rate has declined from 27.1% in 2011-12 to 2.6% in 2023-24, according to World Bank estimates, reflecting a sharp reduction in the share of people living below the international poverty threshold. The report raises questions about how many Indians still face financial hardship, how India compares with other countries and what falling poverty means for economic growth.

India has recorded one of the world’s fastest declines in poverty, with the proportion of people living in extreme poverty falling from 27.1 per cent in 2011-12 to just 2.6 per cent in 2023-24, according to the World Bank. The latest figures indicate a major shift in living standards across the country, particularly among low-income households. The decline comes at a time when several countries continue to struggle with poverty, unemployment and rising living costs.

According to the World Bank’s October 2026 Poverty and Equity Brief, an estimated 49.6 crore Indians moved above the poverty line for lower-middle-income countries during this period. The report describes India’s progress as “one of the fastest poverty declines in the world”. Rising household........

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