India lifted an estimated 496 million people out of poverty between 2011 and 2023, with the share of the population living in extreme poverty declining sharply from 27.1% to 2.6%, according to the World Bank’s October 2026 Poverty and Equity Brief.
The report said the proportion of people living below the lower-middle-income poverty line of $4.20/day, measured at 2021 purchasing power parity (PPP), also fell from 57.7% to 16.1% during the period.
Describing the progress as “one of the fastest poverty declines in the world”, the World Bank said India had recorded improvements across both monetary and non-monetary measures of poverty.
The report attributed the decline mainly to strong consumption growth, rising employment, particularly among women, and expanded social transfers, including food subsidies.
Poverty is expected to decline further, although at a slower pace. The World Bank’s projections indicate that the poverty rate at the $4.20-a-day threshold could fall from 14.2% in 2026 to 12.1% by 2028.
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