India's extreme poverty rate plummeted to 5.3% in 2022-23, lifting 269 million from poverty.

India's extreme poverty rate dropped from 27.1% in 2011-12 to 5.3% in 2022-23, lifting 269 million people out of extreme poverty, according to the World Bank. The reduction is attributed to government initiatives and economic reforms, with key states like Uttar Pradesh and Maharashtra contributing significantly to the decline. The World Bank used a $3 per day poverty line for its assessment, showing balanced progress in both rural and urban areas.