According to the State Bank of India (SBI) report on India’s poverty rate for 2024, what is the estimated national poverty rate?

The correct answer is 4.0% to 4.5%.

Key Points

• According to the State Bank of India (SBI) report, India's poverty rate for 2024 is estimated to be in the range of 4.0% to 4.5%.
• The report highlights a significant reduction in poverty levels compared to previous years due to economic reforms and social welfare programs.
• Poverty rates are calculated based on income thresholds and consumption expenditure data derived from household surveys.
• The SBI's research reflects India's progress towards achieving Sustainable Development Goals (SDGs), particularly Goal 1: No Poverty.
• The reduction in poverty is attributed to factors such as rising rural incomes, government schemes, and improved access to education and healthcare.

Additional Information

• Poverty Measurement
  • Poverty is measured using the poverty line, which refers to the minimum income level required to meet basic needs.
  • India uses data from the National Sample Survey Office (NSSO) to estimate poverty rates.
  • Poverty reduction is influenced by factors like economic growth, social welfare schemes, and employment opportunities.
• Government Schemes Targeting Poverty
  • Programs like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) aim to provide employment and reduce poverty.
  • Housing schemes such as Pradhan Mantri Awas Yojana (PMAY) contribute to poverty alleviation by ensuring shelter.
  • Direct Benefit Transfers (DBT) and subsidy reforms enhance targeted delivery of benefits to poor households.
• Sustainable Development Goals (SDGs)
  • Goal 1: No Poverty aims to eradicate extreme poverty and reduce poverty in all dimensions.
  • India’s poverty reduction efforts align with SDG targets set for 2030.
  • Social inclusion and access to basic services are integral to achieving these goals.
• State-wise Poverty Trends in India
  • States like Kerala, Goa, and Punjab report lower poverty rates due to higher economic development.
  • States with higher poverty levels include Bihar and Odisha, where targeted interventions are required.
  • Regional disparities in poverty levels highlight the need for customized policy measures.