Relevance:
Recently, the World Bank released a report titled “Poverty and Shared Prosperity 2022: Correcting Course”.
Key Points:
- Poverty and Shared Prosperity is a biennial series that provides the latest estimates and trends in global poverty and shared prosperity.
- The World Bank new extreme poverty line – $2.15 per person per day,
- Replaces the $1.90 poverty line (based on 2017 purchasing power parities).
Key Findings:
- The pandemic increased the global extreme poverty rate to an estimated 9.3% in 2020, up from 8.4% in 2019.
- Primary reasons – Severe economic downturn during COVID-19 and the recent war in Ukraine.
- The world is unlikely to meet a longstanding goal of ending extreme poverty by 2030.
- In 2019-20, 10% of India’s population was living under the updated poverty line.
- 5.6 crore Indians slipped into poverty in 2020.
- 12% of the population lived below the poverty line in rural areas, while 6% of urban Indians were in poverty.
- There has been a decline in poverty in India since 2011, especially in rural areas.
- The richest people have recovered from the pandemic at a faster pace.
Recent Measures Taken:
- Integrated Rural Development Programme (IRDP)
- Pradhan Mantri Awaas Yojana
- National Old Age Pension Scheme
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005
- Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)
- National Urban Livelihood Mission
- Pradhan Mantri Kaushal Vikas Yojana
- Pradhan Mantri Jan Dhan Yojana
Reference: Indian Express
