Trends and Current Status of Poverty in India

Trends and Current Status of Poverty in India

Author Name : Dr. G. Sriram

ABSTRACT India, which now has the world's third-largest economy in terms of purchasing power parity, has been an urban-cantered, industrialising nation since its independence in 1947. Over the last 25 years, India has been noted for its significant economic growth, which looks to continue for the 2017–2018 fiscal year with an expected growth rate of 7.2 percent. While India has maintained much economic success, many failures and weaknesses still debilitate the nation's full potential. For example, the poverty rate in India has been less severe in recent years, but there is still much room for improvement. In 2016, 270 million Indians were surviving on $1.90 or less a day, the World Bank's definition of extreme poverty