India made ‘remarkable progress’ in reducing poverty: World Bank
World Bank report says India achieved one of the fastest poverty reductions globally. Extreme poverty dropped from 27.1% in 2011 to 2.6% in 2023, largely due to government transfer programs and increased employment. The study highlights the role of social safety nets and job creation in driving this progress. These gains underscore the effectiveness of subsidies and reforms, suggesting a model for other developing economies.