Economy

India's poverty drops, no longer world's poorest nation, says study

Updated : June 27, 2018 02:06 PM IST

The study, published in the ‘Future Development’ blog of Brookings defines extreme poverty as living on less than $1.9 a day.

According to the study, about 44 Indians are coming out of extreme poverty every minute.

A recent study by the American research group Brookings says India is no longer a home to the largest number of poor.

The study, published in the ‘Future Development’ blog of Brookings defines extreme poverty as living on less than $1.9 a day.

According to the study, about 44 Indians are coming out of extreme poverty every minute, leading to reduction in India's poverty, while Nigeria’s is growing by six people every minute, making it the country with the largest number of poor currently.

“At the end of May 2018, our trajectories suggest that Nigeria had about 87 million people in extreme poverty, compared with India’s 73 million. What is more, extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall,” said the study.

India’s poverty could fall further to the third position later this year if the trend continues, which will lead to Democratic Republic of the Congo taking the number 2 spot, the study shows.

Further, the study said that less than 3 percent of Indians will be poor by 2022 and extreme poverty could be eliminated altogether by 2030.

India's poverty drops, no longer world's poorest nation, says study

You May Also Like

'Every UK adult to get 1st Covid vaccine dose by Sep'

Market cap: Six of top-10 most valued firms add over Rs 1.13 lakh crore

COVID-19 vaccination drive: 1.9 lakh people vaccinated on Day 1

Trending on CNBC-TV18

recommended for you