New Delhi, June 27: A study claimed that India is no longer home to largest number of poor. The studies, published in the ‘Future Development’ blog of Brookings, says about 44 Indians come out of extreme poverty every minute. This shows that India has one of the fastest rates of poverty reduction in the world. The study also claims that Nigeria has replaced India. India may come to No 3 position later this year with the Democratic Republic of the Congo taking the number 2 spot.
According to the study, extreme poverty is living on less than $1.9 a day. Brookings blog says that by 2022, less than 3 per cent of Indians will be poor and extreme poverty could be eliminated altogether by 2030.
Extreme poverty in Nigeria is growing by six people every minute, while on other hand poverty in India is declining, claimed the study. According to the World Bank, between 2004 and 2011 poverty declined in India from 38.9% of the population to 21.2%.
The study was done on the basis of World Poverty Clock. In the study, household surveys and projections of economic growth from the IMF’s World Economic Outlook were considered. The study said that Africa accounts for about two-thirds of the world’s extreme poor.
Fourteen out of 18 countries in the world where the number of extreme poor is rising are in Africa, the study added. The study model estimated that on September 1, 2017, 647 million people lived in extreme poverty. The study also claimed that every minute 70 people escape poverty which is close to the Sustainable Development Goal target.