India Eliminates Extreme Poverty, Rural Development Drives Poverty Rate Down to 2.5%

• India has eliminated extreme poverty according to a new report from The Brookings Institution, citing the country's latest consumption expenditure data.

• The data shows high consumption growth in rural areas since 2011-2012, at 3.1% per year, thanks to government schemes and policies focused on redistribution.

• Rural poverty rate was recorded at just 2.5%, while urban poverty was 1%.

• The report says India must now shift to a higher poverty line and better identify intended beneficiaries.

• The elimination of extreme poverty has positive implications for global poverty rates.