POVERTY AND INEQUALITY IN INDIA
Poverty and inequality remain pressing challenges in India, a country marked by its rapid economic growth juxtaposed with persistent socio-economic disparities. Despite significant advancements and a burgeoning middle class, a substantial portion of the population continues to live in poverty, struggling with inadequate access to basic necessities such as food, healthcare, and education. Additionally, economic inequality has widened, with wealth increasingly concentrated in the hands of a few. Addressing these issues is critical for India's development, as they have profound implications for social stability, economic sustainability, and overall human well-being
Estimating poverty in India involves various metrics and methodologies employed by international agencies, each offering insights into the different dimensions of poverty.
1.World Bank’s Estimates of Poverty
i.Measurement Approach: The World Bank primarily uses the international poverty line, defined as living on less than $1.90 per day (PPP - Purchasing Power Parity).
ii.Current Estimates: According to the World Bank, as of 2019, approximately 10% of India’s population lived below the international poverty line, equating to about 137 million people.
iii.Historical Context: The percentage of people living below the poverty line has decreased significantly from 49.7% in 1977 to 21.9% in 2011, reflecting substantial economic progress and poverty alleviation efforts.