India is becoming another powerful country and has successfully implemented the program to free millions of its people from extreme poverty. Justin Wolfers, professor of public policy and economics at the University of Michigan, points out that this has a direct impact on reducing global economic inequality.
A recent study by Justin Wolfers has revealed that India’s emerging economy has brought many positives to the world. The country’s anti-poverty program has taken a significant place amongst them. It has shown in that study that millions of people suffering from poverty have been emancipated. It is at the peak of China, while the emerging economy of contemporary India is at the top. The study revealed that India’s solid economic situation has lifted millions to better living conditions.
Closer to middle-income status
In this situation, India’s low-income population is moving closer to middle-income status. That trend has led to eliminating global income inequality, Professor Justin Wolfers points out. He has pointed out that the progress India is making in a situation where income inequality in America has been growing for four decades is a process that the world should follow as an example.
A study conducted by UNDP has revealed that 415 million Indians have been lifted out of poverty in the past 15 years. The United Nations points out that India has reduced poverty levels across all indicators. Within 15 years, from 2005 – 2006 to 2019 – 2021, 415 million people have been lifted out of poverty, resulting from a systematic and planned program. Various programs implemented in education, economy and society have directly affected this.
In addition to India, the countries of Cambodia, China, Congo, Honduras, Indonesia, Morocco, Serbia and Vietnam have also shown exceptional success in reducing their poverty levels in the last 15 years, but India has achieved remarkable growth.
142.86 million people
A background has now been created where India has succeeded in becoming the most populous country in the world with 142.86 million people, surpassing China, and in such a situation, being able to reduce the poverty level can be recognized as an achievement that shows India’s strength globally.
In 2005-2006, 645 million people were living in poverty in India and India has managed to reduce this number to 370 million in 2015-2016 and 230 million in 2019-2021. Another unique situation seen in the Indian economy is the remarkable development of the state of the so-called poorest states.
Globally, nearly two-thirds of all poor people live in middle-income countries. The United Nations has calculated that number as 730 million. The United Nations has also advised these countries to implement comprehensive programs to reduce global poverty, with problems including malnutrition amongst children and a poverty rate of 27.7%. This has been identified as a dire situation. The rate amongst adults is 13.4%, and poverty is high, mainly in rural areas; according to the United Nations, Out of the total poverty families, 84% are reported from rural areas.
