The World Bank released its October 2026 Poverty and Equity Brief report, highlighting India’s significant progress in poverty reduction. According to the report, India lifted approximately 496 million people out of poverty between 2011 and 2023. India’s extreme poverty rate declined from 27.1% in 2011 to 2.6% in 2023. The population living below the lower-middle-income poverty threshold of $4.20 per day (2021 PPP) decreased from 57.7% to 16.1% during the same period. The report attributed this progress to increased consumption, employment growth, particularly among women, and expanded social transfers, including food subsidies. Around 57% of India’s poor population remains concentrated in the geographical belt extending from Uttar Pradesh to West Bengal.