India lifts 496 million above poverty line, FM says

The government's anti-poverty efforts have yielded substantial results, with 496 million Indians moving above the $4.20-a-day poverty threshold between 2011-12 and 2023-24, according to World Bank figures cited by Finance Minister Nirmala Sitharaman.

Sitharaman's invocation of the poverty data comes as part of the administration's broader push to demonstrate the impact of its inclusive growth policies. The statistics represent a significant decline in poverty headcount over the 13-year period, reflecting improvements in living standards across the country.

The Finance Minister has made inclusive growth a cornerstone of the government's economic agenda, with policy measures aimed at expanding access to basic services, employment opportunities, and social security schemes. The poverty figures align with this stated priority, showcasing the scale of improvement in household income levels.

The World Bank data suggests that sustained economic growth, combined with targeted welfare programmes, has contributed to lifting hundreds of millions out of poverty. Officials argue the trend demonstrates the effectiveness of the government's multi-pronged approach to development, though economists continue to debate poverty measurement methodologies and the pace of improvement needed.