India's poverty drops below 5%, urban-rural gap narrowing: NITI Aayog chief

PTC News Desk: India's poverty rate has plummeted to just five percent, as declared by NITI Aayog CEO BVR Subrahmanyam, following the release of the latest consumer expenditure survey conducted by the National Sample Survey Office (NSSO).

The survey, released after a gap of over a decade, showcased a significant surge in household consumption expenditure, doubling the per capita monthly household expenditure in 2022-23 compared to 2011-12.

Subrahmanyam emphasised the survey's crucial role in evaluating poverty levels and the efficacy of poverty alleviation strategies, expressing confidence in the survey's findings by stating, "The data indicates that poverty in India is now below five per cent." The survey, categorising individuals into 20 groups, disclosed that the average per capita monthly expenditure in rural areas amounts to Rs 3,773, whereas, in urban regions, it reaches Rs 6,459.

Highlighting the persistence of poverty within the 0-5 per cent income bracket, Subrahmanyam remarked that this segment primarily harbours impoverished individuals.

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Moreover, he underlined positive trends such as a 2.5-fold surge in consumption in both rural and urban areas, indicating widespread progress. Additionally, the narrowing gap between rural and urban consumption patterns suggests strides towards economic equality.

The survey also unveiled a decline in cereal and food consumption, signaling a transition towards a more prosperous lifestyle. With a growing emphasis on non-food items like dairy products, fruits, vegetables, and processed foods, there's evidence of increased affluence and evolving consumption habits among the populace. Subrahmanyam further underscored the survey's potential impact on inflation and GDP, advocating for a reassessment of the consumer price index to accurately reflect contemporary consumption trends.

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(Inputs from agencies)

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