India Sees Major Poverty Decline, Rural Households Spend More

Poverty levels in India now below 5%, according to government data from Household Consumption Expenditure Survey 2022-23
Rural households spending less than 50% of expenditure on food for the first time; indicates higher incomes
Monthly per capita expenditure data shows bottom 5-10% rural households spend above accepted poverty lines
Sharp rise in urban and rural consumption over last decade, challenging notion of weak rural economy
Benefits like healthcare, education not factored into data; "destitution and deprivation have almost gone"