49.6 crore Indians escaped poverty between 2011 and 2023: World Bank report

NEW DELHI: As many as 49.6 crore people in India were lifted out of poverty between 2011 and 2023, according to a World Bank report. The poverty rate in the country fell from 27.1 per cent to 2.6 per cent during this period, marking one of the fastest reductions in poverty in the world. The proportion of people living below the poverty line declined from 57.7 percent to 16.1 percent, the report said.

Strong growth in consumption, increased participation of women in the workforce and food subsidies were among the key factors that contributed to the reduction in poverty. The report also noted that 57 per cent of India's poor population is concentrated in the region stretching from Uttar Pradesh to West Bengal. Between 2017 and 2023, the country's workforce also increased by 13.4 crore. However, unemployment rose from 14.6 per cent to 15.9 per cent in the first quarter of the 2026-27 financial year.