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Poverty in India is estimated to have declined to 8.5% in 2022-24 from 21.2% in 2011-12, despite pandemic challenges, according to a research paper by the economic think tank NCAER. The paper, titled 'Rethinking Social Safety Nets in a Changing Society' and authored by Sonalde Desai of NCAER, utilized data from the newly completed Wave 3 of the India Human Development Survey (IHDS), as well as data from Waves 1 and 2. "According to the IHDS findings, poverty significantly declined from a headcount ratio of 38.6 in 2004-2005 to 21.2 in 2011-12, and continued to decline to 8.5 between 2011-12 and 2022-24 despite the pandemic challenges," the paper states. Earlier this year, NITI Aayog CEO B V R Subrahmanyam reported that the latest consumer expenditure survey indicates poverty has fallen to 5% nationwide, with increasing prosperity in both rural and urban areas.

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