Due to diligent efforts of the current government at the center, India witnessed a persistent decline in poverty in last 4 years. India is no longer a nation having the largest number of poor people in the world, says a study published by US based think tank Brookings. The study, titled ‘The start of a new poverty narrative’ and published in the Brookings’ blog, is authored by Homi Kharas, Kristofer Hamel and Martin Hofer.
According to the study, Nigeria has overtaken India as the country with the largest number of extreme poor in early 2018, and the Democratic Republic of the Congo could soon take over the number 2 spot. “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. The study has cited data from World Poverty Clock and new projections on country economic growth from the International Monetary Funds’ World Economic Outlook. The UN-sponsored Sustainable Development Goals aim to eliminate global poverty by 2030.
Commenting on the study, Economic Advisory Council to the Prime Minister (EAC-PM) member Shamika Ravi said that India has achieved a rapid decline in extreme poverty through high development spending and high growth. (Source: moneycontrol)