Economy

India will soon be free of poor as UN report says Poverty Rate in India reduced to half over 10-year period!

Here’s happy news for all those patriotic Indians in love with our nation. India is now on the verge of moving out of the Poverty Tag! Our nation which was termed as a poor country a few decades back is now seen moving out of the pathetic state in whopping numbers.

Poverty rate in India was reduced by half in the decade starting 2005-2006 and nearly Millions of people were lifted out of poverty in the 10-year period, putting a dent in global poverty. The 2018 global Multidimensional Poverty Index (MPI) and Oxford Poverty and Human Development (OPHI) report claimed.

Adding to our level of surprise, a whopping number of nearly 271 million people were lifted out of poverty in 2005-06 to 2015-16 in India. The poverty rate, down from 55% to 28%, has nearly halved in the period.

Indians must take pride to know that, India is the first country for which progress over time has been estimated in the report. This drastic change taken place in our country has surprised the report all over the world. The country that once stood back in the race has now bagged the victory to beat poverty.

In India alone some 271 million have escaped multidimensional poverty in just ten years.The level of poverty is staggering, particularly in children, but so is the progress made in tackling it, said UNDP Administrator Achim Steiner.

“Multidimensional Poverty Index provides insights that are vital for understanding the many ways in which people experience poverty, and it provides a new perspective on the scale and nature of global poverty while reminding us that eliminating it in all its forms is far from impossible,” he added.

Poverty is one factor that needs to be widely concentrated upon by each Economy in order to focus on progress. Poverty and Illiteracy can have diverse effects on better economy level in a country. Thus, having these in control is a must.

“Not only does it allow us to understand how different countries are faring in their fight against poverty, but it helps us to better understand who the poor are, where they are and the many different ways in which they experience poverty”,OPHI Director Sabina Alkire said.

The MPI provides a complementary picture of poverty and how it impacts people across the world.While the MPI’s core data look at those who are poor, and the subset who are severely poor, the numbers also look at those very close to becoming poor.

Source: News18.com

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