HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY FOR 2022-23 AND THE 2023-24 REPORTS

India’s poverty rate plummeted from 29.5% in 2011-12 to 4.9% in 2023-24, driven by 9.2% GDP growth, controlled inflation, and social safety nets. Rural poverty fell to 2.8%, urban to 1.1%. Despite reduced inequality, concerns linger over data reliability, food inflation, and vulnerable non-poor. Sustained growth and robust safety nets are crucial.