India reports sharp decline in poverty, inequality over last decade

India has witnessed a considerable decrease in poverty over the last decade according to a new paper. The paper, published by economists Surjit S Bhalla and Karan Bhasin, analysed data from recently released household expenditure data for 2022-23 and 2023-24. Data from these surveys indicate a substantial decline in poverty levels in India. The paper claimed that extreme poverty in the country has dropped to negligible levels. The paper also stated that there is strong evidence that India has experienced a sharp reduction in inequality over the last twelve years from 2011-12 to 2023-24.