India's poverty rate falls from 57.7% to 16.1%, 49.6 crore people move above poverty line: FM Sitharaman cites World Bank

The report said the share of India's population living below the poverty line of $4.20 per day declined sharply from 57.7% in 2011 to 16.1 in 2023. Extreme poverty also witnessed a significant fall during the period, with the proportion of people living on less than $3 a day dropping from 27.1% to 2.6%. Both poverty thresholds are measured using 2021 purchasing power parity (PPP).