As India is one of the fastest-growing economies in the world, poverty is on the decline in the country, with close to 44 Indians escaping extreme poverty every minute, as per the World Poverty Clock. India had 73 million people living in extreme poverty which makes up 5.5% of its total population, according to the Brookings report. In May 2012, the World Bank reviewed and proposed revisions to their poverty calculation methodology and purchasing power parity basis for measuring poverty worldwide.
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As India is one of the fastest-growing economies in the world, poverty is on the decline in the country, with close to 44 Indians escaping extreme poverty every minute, as per the World Poverty Clock. India had 73 million people living in extreme poverty which makes up 5.5% of its total population, according to the Brookings report. In May 2012, the World Bank reviewed and proposed revisions to their poverty calculation methodology and purchasing power parity basis for measuring poverty worldwide.