STOCK MARKET BSE NSE

One in three of world's poorest live in India

Published: 19th April 2013 03:31 PM  |   Last Updated: 19th April 2013 03:34 PM   |  A+A-

India_poor_AP

One in three of the world's poorest people are living in India, the world's second-fastest growing economy, according to a new study by the World Bank.

While new figures show that the number of those in extreme poverty around the world - surviving on 82 pence per day or less - has declined significantly, India now has a greater share of the world's poorest than it did thirty years ago. Then it was home to one fifth of the world's poorest people, but today it accounts for one-third - 400 million.

The study, The State of the Poor: Where are the Poor and Where are the Poorest?, found the number of extremely poor people had declined from half the world's population in 1981 to one fifth in 2010, but voiced concern at its increase in Sub-Saharan Africa and continuing high level in India.

World Bank president Jim Yong Kim said while the overall decline was "remarkable progress", the remaining 1.2 billion people living in extreme poverty was "a stain on our collective conscience." His colleague, World Bank chief economist Kaushik Basu, who until last year was economic advisor to Indian prime minister Dr Manmohan Singh, said the figures called for the world's wealthier countries to do more.

"We have made strides in cutting down poverty, but with nearly one-fifth of the world population still below the poverty line, not enough. Directing investment towards the poor will require coordinated effort by the Bank, our country partners, and the international development community; and will, let's face it, entail sacrifice on the part of those who are fortunate enough to be better off," he said.

The scale of continuing extreme poverty in India, despite its economy nudging growth rates of nine per cent in recent years, highlights what government strategists have called its "ticking time bomb." Its population is expected to reach 1.5 billion and become the world's largest nation by 2026 but its economy is not growing fast enough to create the 20 million new jobs per year they will need to prevent poverty increasing further.

Its problems are compounded by poor health services, child malnutrition and inadequate education and training. Almost half of pupils drop out of school by the age of 13 and only one in ten people have received any form of job training.

The perception of India as a fast-growing economy however has seen developed countries significantly reduce their aid. The United States has announced a 16 per cent reduction while Britain has announced it will end its £280 million per year aid programme.

Thomas Chandy of Save The Children said 200 million people had been lifted from poverty in the last two decades but the recent economic growth had left one third of the population untouched. "India's status has gone down despite the economic growth, inequality has widened which makes the poor poorer. In child mortality, infant mortality and maternal mortality, India seems to have the largest populations in all these categories. We would like to see focused interventions [because] the most difficult areas remain untouched," he said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp