Rural Poverty Falls Below 5% In A First, At A Rate Faster Than Urban: What The Latest SBI Data Tells Us Beyond The Numbers

The SBI Research report also says urban poverty is expected to decrease further and the overall poverty rates in India could now be between 4 per cent and 4.5 per cent, with minimal extreme poverty.

The consumption inequality in India has seen a notable decline from the previous fiscal (2022-23)

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In India, the poverty rate in rural areas for the fiscal year 2024 is estimated to be at 4.86 per cent, while in urban areas it is 4.09 per cent, reveals a report by SBI Research. These figures, released recently, are significantly lower than the previous year's estimates of 7.2 per cent for rural poverty and 4.6 per cent for urban poverty.  The report further states that urban poverty is expected to decrease further and the overall poverty rates in India could now be between 4 per