Niti Aayog: Poverty May Be Less Than 5% as Rural Spending Rises, Inflation Falls

Poverty level in India could be around 5% or less based on latest household consumption data, says Niti Aayog CEO
Rural deprivation has almost disappeared; rural monthly per capita consumption expenditure increased 164% between 2011-12 and 2022-23
Share of food spending in rural areas fell from 53% in 2011-12 to 46.4% in 2022-23
Spending on non-food items like appliances, processed foods, medical care has gone up
Data indicates lower inflation as share of cereals and food in consumption basket has reduced