According to the State Bank of India (SBI) report on India’s poverty rate for 2024, what is the estimated national poverty rate?​

Correct option is B

Correct Answer: (B) 4.0% to 4.5%

Explanation:

• According to the State Bank of India (SBI) report on India’s poverty rate for 2024, the estimated national poverty rate is projected to be between 4.0% and 4.5%.
• This marks a significant decline from the previous estimates and indicates that poverty in India has been steadily decreasing.
• The reduction in poverty rates is attributed to improvements in household consumption, government welfare programs, and overall economic growth.

Information Booster:

• Rural Poverty: In FY24, rural poverty decreased to 4.86%, down from 7.2% in FY23 and 25.7% in FY12.
• Urban Poverty: Urban poverty decreased to 4.09% in FY24, compared to 4.6% in FY23 and 13.7% in FY12.
• Poverty Line Adjustments: The poverty line for FY24 was set at ₹1,632 per person per month in rural areas and ₹1,944 in urban areas, adjusted for inflation.
• Government Initiatives: Programs like Direct Benefit Transfers (DBT), infrastructure development, and farmer-centric initiatives have significantly improved rural livelihoods and reduced consumption inequality.
• Consumption Trends: The gap in Monthly Per Capita Consumption Expenditure (MPCE) between rural and urban areas has been narrowing, indicating improved economic conditions for rural populations.