Economic A research paper by research institute NCAER said that despite the challenges posed by the Covid pandemic, poverty in India will come down from 21.2 percent in the financial year 2011-12 to 8.5 percent in 2022-24. A research paper by the National Council of Applied Economic Research (NCAER) has used data from the first and second series along with the recently completed third series of the India Human Development Survey (IHDS). This research paper focuses on ‘Rethinking the social security scope in a changing society’.
Poverty came down to 8.5% in 2022-24
The research paper says that there was a significant reduction in poverty between 2004-2005 and 2011-12 and it came down from 38.6 percent to 21.2 percent. Despite the challenges posed by the pandemic, the trend of decline continued and it came down from 21.2 percent to 8.5 percent in 2022-24. According to the research paper, economic growth and reduction in poverty conditions create a dynamic environment, which requires effective social protection programs.
Money coming to people
Maintaining social security systems with the pace of social change will be a major challenge for India. Niti Aayog CEO B V R Subrahmanyam said a few months ago that the latest consumer expenditure survey indicates that poverty in the country has come down to five percent and money is coming to people in both rural and urban areas. The National Sample Survey Office (NSSO), while releasing the domestic consumption expenditure data for the year 2022-23 in February, said that the monthly household expenditure per person has more than doubled in 2022-23 as compared to 2011-12. The Tendulkar Committee had set the poverty line for rural and urban areas at Rs 447 and Rs 579 respectively. Later the Planning Commission increased it to Rs 860 and Rs 1,000 for 2011-12.
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