Study: India No Longer Home to the Largest Number of Poor | AIB
A recent study, published in the ‘Future Development’ blog of Brookings, said that India is no longer home to highest number of poor people. In reality, about 44 Indians come out of extreme poverty every minute, and this shows that India has one of the fastest rates of poverty decline in the world.
As a result, India has ultimately shed its dubious fame of being home to the largest number of poor, replacing Nigeria. The study also claimed that India might come to No. 3 position following this year with the Democratic Republic of the Congo taking the No. 2 spot.
According to the study, extreme poverty defined as people living on less than $1.9 a day. By 2022 Indians will be less than 3% poor and extreme poverty could be abolished by 2030. The report that India would be able to eliminate extreme poverty by 2030 seems pragmatic given the country’s record in the past decade in overcoming poverty and its capacity to meet the Millennium Development Goals.
To accomplish this India must maintain its growth at 7%-8% in coming years because global income increases in the last decades have led to regular decreases in poverty rates worldwide, India’s high standards of income per capita growth has played a crucial role when it comes to the overall number of persons escaping extreme poverty.
This study was done from the data of World Poverty Clock. In this, household surveys and projections of economic growth from the IMF’s World Economic Outlook were also considered. The study also said that Africa accounts for about two-thirds of the world’s extreme poor.
If these trends continue, they will account for nine-tenths by 2030. 14 out of 18 countries in the world where the number of extreme poor is arising are in Africa. The study model predicted that on September 1, 2017, 647 million people lived in extreme poverty. “Every minute 70 people escape poverty (or 1.2 people per second). This is close to the Sustainable Development Goal target (92 people per minute, or 1.5 per second) and allows us to figure that around 36 million people have escaped extreme poverty in the year 2016.”