Extreme poverty in India fell to 5.3% in 2022-23: World Bank

• Extreme poverty rate in India dropped to 5.3% from 27.1% in 2011-12.

• World Bank revised poverty line to $3 per day, resulting in a 5.3% poverty rate in 2022-23.

• 54,695,832 people lived on less than $3 per day in 2024.

• Extreme poverty rate decreased from 16.2% to 2.3% between 2011-12 and 2022-23.

• Lower middle income country poverty rate declined by 33.7 percentage points.