India is transforming, the extreme poverty is now extremely low.
Official data now confirms that India has eliminated extreme poverty, as commonly defined in international comparisons. This is an encouraging development with positive implications for global poverty headcount rates.
High growth and large decline in inequality have combined to eliminate poverty in India for the PPP$ 1.9 poverty line.
The Headcount Poverty Ratio (HCR) for the 2011 PPP$ 1.9 poverty line has declined from 12.2 per cent in 2011-12 to 2 per cent in 2022-23, equivalent to 0.93 percentage points (ppt) per year. Rural poverty stood at 2.5% while urban poverty was down to 1%.
The change in slope of the HCR for the higher 3.2$ poverty line reveals the extent of inclusive growth experienced in India over the last decade.
Okay, Let me first tell you why I came up with this positive story unfolding about India.
"First, I'm extremely happy that I could reach to sixth place on the leaderboard for the first time ever. I'm hugely indebted of your immense love. I must accept, I've never met so many genuine people sitting together.
Secondly, I want to confess out of my chest that for the first time ever I was intimidated (a bit offended) when someone repeatedly mocked India and Indians on the post which was also confirming that India (fast growing) still has problems of poverty. So, there was no matter of exaggeration or mocking of the 'poverty point for India', which I had already accepted.
Yes, because I'm from India and can see things happening in front of my eyes. I neither felt nor will ever feel bad to accept if something needs to be corrected. Currently poverty (not extreme poverty) and unemployment are the biggest demons for indian economy which is poised to surpass Germany's to become the third largest in the world within the next 4 years.
Extreme poverty is the most severe type of poverty, defined by the United Nations (UN) as "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information.
Whereas
Poverty entails more than the lack of income and productive resources to ensure sustainable livelihoods. Its manifestations include hunger and malnutrition, limited access to education and other basic services, social discrimination and exclusion, as well as the lack of participation in decision-making.
I also accept that there's still a huge disparity between the rich and the poor in India. But it's something that is almost found in every country. India's financial disparity has its roots in its long history of royalty. You won't believe if I tell you that there was a king not long ago who bought many Rolls Royce to use a garbage collecting carriers However, this is about the materialistic wealth India still possess. To tell you the truth, India is richer in so many other types of money.
India is huge and diverse and there is always something for everyone here, be a rich or a poor. I can never forget the words of an old woman who was poor and living in a far away village with few modern means but she had huge aesthetic and spritual wealth. I remember how she said that 'our life leads to the same destination' when I asked her about keeping both a mangalsutra and lord Buddha necklaces together in her neck. I was surprised with the straight answer and asked if she ever wished to be a richer person in her life. She again surprised me by replying more ardently that she was already rich. "In fact, what do I not have? I have my family, this beautiful village, enough food, enough clothes and enough happiness. What else do you think a rich person should have!"
At last, I can only say that you can't paint a real picture of anything sitting far from the reality in the dark. I cordially invite you to come to India and let me show you how rich India is!
Thanks for reading!!