According to the SBI report of January 2025, what was India's rural poverty rate in FY24?

Correct option is A

The correct answer is (a) 4.09%

Explanation:

• The SBI (State Bank of India) Ecowrap report released in January 2025 highlighted a significant decline in poverty levels.
• According to the report, India's rural poverty rate plummeted to 4.09% in the financial year 2023-24 (FY24).
• The report attributes this decline to government welfare schemes, better connectivity, and increased rural income.
• The data used in the report is based on the Household Consumption Expenditure Survey (HCES) findings.
• This sharp decline indicates a structural shift in the rural economy and poverty alleviation.

• The SBI report also noted that urban poverty declined to around 2.3% in the same period.
• The Gini coefficient, which measures income inequality, also showed a significant decline in both rural and urban areas.

• This figure is close to some previous estimates but is not the specific rural poverty rate cited in the Jan 2025 SBI report.

• This might refer to GDP growth projections or older poverty data from previous cycles.

• This value does not match the specific rural poverty finding of the 2025 SBI Ecowrap report.