According to data released Monday by India’s Planning Commission, the number of people living in absolute poverty in India decreased by 12.5% between 2004-2005 and 2009-2010. India’s official poverty rate stands at 29.8%, or close to 350 million people using 2010 population figures, down from around 37.2% or 400 million previously. The announcement was based on an analysis of data gathered from roughly 100,000 households between July 2009 and June 2010,...
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‘Food inflation can push 3 cr Indians into extreme poverty’
-First Post A ten percent spike in food prices could push 30 millions more people into extreme poverty in India, a report by the Asian Development Bank (ADB) has said. Ironically, data released by the Planning Commission on Monday showed that poverty had declined significantly between 2004-2005 and 2009-2010.In absolute terms, there were 35.5 crore poor people in 2009-10 against 40.7 crore five years earlier. As per the data, poverty across the...
More »World Bank approves $4.3 billion aid to India to fight poverty
-PTI The World Bank has announced $ 4.3 billion financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty. This arrangement, while facilitating a $ 4.3 billion increase in support to India, is designed to maintain International Bank for Reconstruction and Development's (IBRD) - which is its lending arm - net exposure within the limit of $ 17.5 billion established by it. In a statement,...
More »Extreme Poverty Drops Worldwide by Nikhila Gill
The world has achieved its first Millennium Development Goal of cutting extreme poverty in half ahead of the 2015 deadline, a study by the World Bank shows. The bank defines extreme poverty as living on under $1.25 per day, adjusted for purchasing power parity. According to the report, released this week, 1.29 billion people, or 22 percent of the developing world’s population, live below $1.25 a day, down from 52 percent...
More »Global poverty on the decline: World Bank by Mony K Mathew
The rate of poverty, based on the number of people living on less than $1.5 a day, declined across the developing world between 2005 and 2008, according to a World Bank report. Around 1.29 billion people lived below the defined poverty line in 2008, which was equivalent to 22 per cent of the population of the developing world. By contrast, 1.94 billion belonged to this extreme poverty category in 1981. The...
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