The Union government, led by Prime Minister Narendra Modi, has paid special attention to development in rural areas, and its effect is visible on the ground. A consumption expenditure survey by the State Bank of India (SBI) shows that rural poverty has fallen to 4.86 per cent in 2024 thus revealing that poverty in rural India has greatly reduced.

It may be noted that rural poverty was 7.2 per cent in 2023 while in 2012 it was 25.7 per cent. The research study also highlighted that extreme poverty in the country has been reduced to the minimum. The report states that the poverty rate in India may now be between 4-4.5 per cent while extreme poverty will be almost minimal. The report also mentions significant improvements in rural and urban poverty levels in the last few years, which are taken from the data of the government’s consumption expenditure survey.

The report also adds that urban poverty has also decreased and is 4.09 per cent in 2024 as against 4.6 per cent in 2023 and 13.7 per cent in 2011-12. The report adds that the poverty rate in the country fell below 5 per cent in the year 2024.
The SBI report also adds that the new estimated poverty line is Rs 1632 in rural area and Rs 1944 in urban areas in 2023-24 while based on 2023-24 fractile distribution, the sample proportion for poverty in rural areas is 4.86% and 4.09% in urban areas ignoring imputation factor.

Moreover, SBI Research believes that the level of urban poverty may decline even further........

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