Posted 2/26/2024, 4:47:22 AM
NITI Aayog Survey Shows Sharp Decline in Poverty as Household Spending Rises
- Poverty in India has reduced to below 5% according to survey by NITI Aayog CEO
- Urban and rural monthly per capita consumption expenditure has increased by 33.5% and 40.42% respectively since 2011-12
- Rural households allocated less than 50% of expenditure to food for the first time
- Urban-rural consumption divide has narrowed from 91% in 2004-05 to 71% in 2022-23
- Benefits like healthcare and education not factored in, suggesting destitution and deprivation have nearly disappeared
