World Bank estimates show fall in India’s poverty rate – The Hindu

The World Bank has revised the global poverty line, previously pegged at $1.25 a day to $1.90 a day (approximately Rs. 130). This has been arrived at based on an average of the national poverty lines of 15 poorest economies of the world. The poverty lines were converted from local currency into U.S. dollars using the new 2011 Purchasing Power Parity (PPP) data.

The global poverty line, previously pegged at $1.25 a day, has been revised to $1.90 a day (nearly Rs.130).

In its latest report ‘Ending Extreme Poverty, Sharing Prosperity: Progress and Policies’, authors Marcio Cruz, James Foster, Bryce Quillin, and Phillip Schellekkens, note that world-wide poverty has shown a decline under these new estimates.

The latest headline estimate for 2012 based on the new data suggests that close to 900 million people (12.8 per cent of the global population) lived in extreme poverty.

With the Sustainable Development Goals adopted in September, seeking to end all forms of poverty world over, the World Bank Group has set itself the target of bringing down the number of people living in extreme poverty to less than 3 per cent of the world population by 2030.

Source: World Bank estimates show fall in India’s poverty rate – The Hindu

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