1/3rd of world’s poor live in India
According to the World Bank’s latest estimates on global poverty, India is home to roughly one-third of all poor people in the world. It also has a higher proportion of its population living on less than $2 per day than even sub-Saharan Africa.
The estimates also show that the rate of decline of poverty in India was faster between 1981 and 1990 than between 1990 and 2005.
India, according to the new estimates, had 456 million people or about 42% of the population living below the new international poverty line of $1.25 per day. The number of Indian poor also constitutes 33% of the global poor of 1.4 billion people.
India also had 828 million people, or 75.6% of the population living below $2 a day. Sub-Saharan Africa, considered the world’s poorest region, is better — it has 72.2% of its population (551m) people below the $2 a day level.
The estimates are based on recently recalculated purchasing power parity (PPP) exchange rates.