What was the urban poverty rate in FY24, according to a 2024 State Bank of India report?

Correct option is C

The correct answer is (c) 4.09%
Explanation:
• As per the 2024 report by the State Bank of India (SBI), the urban poverty rate in FY24 was estimated at 4.09%.
• This marked a decline from 4.6% in FY23, showing improvement in urban livelihoods.
• The estimate was based on data from the latest Household Consumption Expenditure Survey (HCES).
• The 2011–12 poverty line was adjusted for inflation to determine the updated poverty threshold.
• The urban poverty line for FY24 was calculated at ₹1,944 per month.
Information Booster:
• SBI used inflation-indexed thresholds for a realistic estimate of current poverty levels.
• The findings indicate positive trends in post-pandemic economic recovery in urban areas.