129 million Indians lived in extreme poverty in 2024, down from 431 million in 1990, but global poverty reduction has stalled, particularly in Sub-Saharan Africa.

The World Bank's 2024 report reveals that 129 million Indians lived in extreme poverty in 2024, a significant drop from 431 million in 1990. However, using a higher poverty threshold of $6.85 per day, more people are below this line now than in 1990, primarily due to population growth. Globally, poverty reduction has stalled, particularly in Sub-Saharan Africa, and the goal of eradicating extreme poverty by 2030 appears increasingly unattainable. A new approach focusing on inclusive growth and resilience is essential.

October 15, 2024
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