Multidimensional poverty declined to 17.89% in FY23: NITI Aayog
The paper also showed that the pace of decline in poverty headcount ratio using the exponential method was much faster.
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Poverty reduction: In a significant revelation, over 24.82 crore people escaped multidimensional poverty in the last nine years, the findings of NITI Aayog’s Discussion Paper ‘Multidimensional Poverty in India since 2005-06’ stated on Monday. The discussion paper was released today by Prof Ramesh Chand, Member. According to the discussion paper, India has registered a significant decline in multidimensional poverty in India from 29.17 per cent in 2013-14 to 11.28 per cent in 2022-23 which is a reduction of 17.89 percentage points.
What is Multidimensional Poverty Index?
The Multidimensional Poverty Index (MPI) is a globally recognized comprehensive measure that captures poverty in multiple dimensions beyond monetary aspects. MPI’s global methodology is based on the robust Alkire and Foster (AF) method that identifies people as poor based on a universally acknowledged metric designed to assess acute poverty, providing a complementary perspective to conventional monetary poverty measures.
The paper also showed that the pace of decline in poverty headcount ratio using the exponential method was much faster between 2015-16 to 2019-21 (10.66 per cent annual rate of decline) compared to the period 2005-06 to 2015-16 (7.69 per cent annual rate of decline).
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All 12 indicators of MPI have recorded significant improvement during the entire study period. To assess the poverty levels in the year 2013-14 against the current scenario (i.e. for the year 2022-23), projected estimates have been used due to data limitations for these specific periods.
Significant initiatives covering all dimensions of poverty have led to 24.82 crore individuals escaping multidimensional poverty in the last 9 years. As a result, India is likely to achieve its SDG target of halving multidimensional poverty well before 2030.
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The Government's persistent dedication and resolute commitment to enhancing the lives of the most vulnerable and deprived have been instrumental in this accomplishment.