Last Updated on October 30, 2026 11:08 pm by INDIAN AWAAZ
ADITYA RAJ DAS
Extreme poverty in the country has declined from 27.1 percent to 2.6 percent between 2011 and 2023. The World Bank’s October 2026 Poverty and Equity report has highlighted country’s progress as one of the fastest poverty declines in the world. In a social media post, Ms Sitharaman said that over 49 crore people have moved above the lower-middle-income poverty line during the same period.
She mentioned that employment in India also increased by 13.4 crore people between 2017 and 2023, nearly twice the increase in the working-age population. She said that rural women accounted for much of the employment gain, and both rural and urban households experienced substantial welfare gains.
The Finance Minister said access to electricity reached 99 percent of the population. Ms Sitharaman also said that World Bank identifies strong consumption growth, rising employment, especially among women and expanded social transfers, including food subsidies, as major drivers. She said that the government’s sustained policy efforts are yielding tangible results, strengthening the foundations for inclusive growth and greater economic opportunity. She also reiterated the Government’s commitment to building on this progress through productive employment, stronger household incomes and effective delivery of public services.