Poverty in India down to 5%: NITI Aayog
The most recent report on household consumption expenditure, published by the Central Statistical Office of the government of India, indicates that rural spending has remained robust, narrowing the gap with urban areas.
According to BVR Subrahmanyam, CEO of NITI Aayog, these findings could indicate a significant decrease in poverty levels, potentially reaching 5 per cent (of the population) or lower; the data suggests that rural deprivation has nearly vanished.
Conducted between August 2022 and July 2023, the survey offers insights into household consumption patterns, shedding light on poverty levels and the effectiveness of government poverty alleviation measures.
Subrahmanyam emphasises that household consumption data is a crucial measure for evaluating the success of poverty reduction initiatives.
The findings of the survey reveal a substantial increase in consumption, with both rural and urban areas experiencing approximately a 2.5-fold surge.
Urban households have seen a 33.5 per cent rise in average monthly per capita consumption expenditure (MPCE) since 2011-12, reaching Rs 3,510, while rural India has witnessed a significant 40.42 per cent increase, reaching Rs 2,008.
