India achieves fastest poverty reduction globally, World Bank finds

India has made exceptional progress in lifting its population out of poverty over the past twelve years, according to a World Bank assessment that ranks the country among global leaders in poverty reduction. The proportion of Indians living in extreme poverty fell from 27.1 percent in 2011 to just 2.6 percent by 2023, representing a decline that outpaces most comparable economies.

The World Bank attributed the steep fall in poverty levels to two primary drivers: expanded government transfer programs and a simultaneous rise in employment opportunities across the country. These complementary factors have worked together to expand economic security for millions of Indians and reduce vulnerability to income shocks.

The findings underscore the impact of India's policy interventions aimed at poverty alleviation over more than a decade. Government schemes targeting direct cash transfers, food security, and social protection have reached broader sections of the population, while concurrent economic growth has generated fresh employment prospects in both urban and rural settings.

The poverty reduction metrics reflect a fundamental economic transformation across India's regions and demographic groups. However, experts note that sustaining this momentum will require continued focus on inclusive growth, skill development, and the creation of productive jobs in sectors offering stable livelihoods.