According to the World Bank, the increase in international poverty reflects changes in prices across the world and improvements in country-level data.
India's extreme poverty rate decreased to 5.25 per cent in 2022-23 from 27.12 per cent in 2011-12. The number of people living in extreme poverty fell from 34.4 crore to 7.5 crore over this period, Union Minister of State for Finance, Pankaj Chaudhary, informed the Lok Sabha.
The government has developed a comprehensive index known as the National Multidimensional Poverty Index (MPI) to measure poverty.
According to the NITI Aayog discussion paper, ‘Multidimensional Poverty in India since 2005- 06’, multidimensional poverty in India is estimated to have declined from 29.17 per cent in 2013-14 to 11.28 per cent in 2022-23, implying that 24.8 crore people have escaped poverty during this period, said the minister.
The primary policy objective of the government is the development of all sections of the population. Its focus on inclusive growth is reflected in its commitment to “Sabka Saath, Sabka Vikas” to reduce poverty and inequality, provide social security, income generation and livelihood options, and improve the quality of life of the vulnerable sections of the population in the country, the minister emphasised.
With these objectives, the government is implementing a number of targeted programmes to promote self-reliance and to provide social security.
According to the minister, the government has a multi-pronged approach that addresses economic inequality, promotes social mobility, and ensures fair economic participation. It has been prioritising employment generation and improving employability.
The annual periodic labour force survey (PLFS) report shows that labour markets have recovered beyond pre-COVID levels in both urban and rural areas. The unemployment rate for individuals aged 15 and above has decreased from 5.8 per cent in 2018-19 to 3.2 per cent in 2023-24.
The government is also implementing the Skill India Mission (SIM) to provide skill, re-skill, and upskill training through an extensive network of skill development centres, schools, colleges, and institutes.
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