Extreme poverty in India down to 5.3 pc in 2022-23: World Bank
New Delhi, Jun 8 (PTI): India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to USD 3 per day.
Given India's inflation rate between 2017 and 2021, a revised extreme poverty line of USD 3 would constitute a 15 per cent higher threshold than USD 2.15 expressed in 2021 prices and result in a 5.3 per cent poverty rate in 2022-23, the World Bank said in a report.
As against 34 crore people below poverty line (USD 3/per day) in 2011-12, the numbers have come down to 7.5 crore in 2022-23 in absolute numbers.
The World Bank has announced a major revision to global poverty estimates, raising the International Poverty Line (IPL) from USD 2.15/day (2017 PPP) to USD 3/day (2021 PPP), according to a factsheet issued by the Press Information Bureau (PIB) on the report.
"While the change led to a global increase in the count of extreme poverty by 125 million, India emerged as a statistical outlier in a positive direction. Using more refined data and updated survey methods, India not only withstood the raised threshold but also demonstrated a massive reduction in poverty," PIB said in its factsheet details issued on Saturday.
The new poverty line would have increased the count of global extreme poverty by 226 million people. But thanks to India's data revision, the net global increase was only 125 million, as India's revised data reduced the count by 125 million on its own, it said.
In India, the World Bank report said, 54,695,832 people lived on less than USD 3 per day in 2024. Thus, the poverty rate at USD 3 per day (2021 PPP -- percentage population) is 5.44 per cent in 2024.
The extreme poverty rate decreased from 16.2 to 2.3 per cent between 2011-12 and 2022-23, while the poverty rate at the lower middle income country (LMIC) line declined by 33.7 percentage points, it said.
Free and subsidised food transfers supported poverty reduction, and the rural-urban poverty gap narrowed. The five most populous states account for 54 per cent of the extremely poor, it said.
With regard to economy, the report said, real GDP of India was around 5 per cent below the pre-pandemic trend level as of FY25.
Growth should gradually converge back to potential over 2027-28 assuming the current global uncertainties are resolved in an orderly fashion, it said.
"The outlook, however, is subject to significant downside risks, as policy shifts may continue to unfold globally. Elevated trade tensions would dampen demand for India's exports and further delay the recovery in investment," it said.
The current account deficit is expected to average around 1.2 per cent of GDP over FY26-28 and remain adequately financed by capital inflows, it said, adding that foreign exchange reserves are projected to remain stable around 16 per cent of GDP.
India has lifted 171 million people from extreme poverty in the decade between 2011-12 and 2022-23, the World Bank said.
"Over the past decade, India has significantly reduced poverty. Extreme poverty (living on less than USD 2.15 per day) fell from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23, lifting 171 million people above this line, the World Bank had said in its 'Poverty & Equity Brief' on India in April.
The rural extreme poverty dropped from 18.4 per cent to 2.8 per cent, and urban from 10.7 per cent to 1.1 per cent, narrowing the rural-urban gap from 7.7 to 1.7 percentage points, it had said.
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'Homebound' makes it to Oscar shortlist for best international feature
Mumbai (PTI): Neeraj Ghaywan's much acclaimed "Homebound" is among the 15 films shortlisted in the best international feature category at the Oscars, moving a step close to the final five nominations and maybe a win.
The movie, inspired by a true story that became the basis of a news article during the pandemic, has been creating a global buzz since its debut in the Un Certain Regard category at the Cannes Film Festival this May.
Hollywood legend Martin Scorsese is a fan and has come onboard as an executive producer ahead of the award season.
Produced by Karan Johar and Adar Poonawalla, and starring Ishaan Khatter, Vishal Jethwa and Janhvi Kapoor, "Homebound" is Ghaywan's second movie after "Masaan".
"Homebound" will compete for an Oscar nomination alongside Argentina's “Belén”, Brazil's “The Secret Agent”, French drama "It Was Just an Accident”, Germany's "Sound of Falling” and Iraq's "The President's Cake".
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The other movies in the shortlist include Japan's “Kokuho”, Jordan's “All That’s Left of You”, Norway's “Sentimental Value”, Palestine's “Palestine 36”, South Korean hit “No Other Choice”, Spain's “Sirat”, "Late Shift" from Switzerland, “Left-Handed Girl”from Taiwan and Tunisian drama “The Voice of Hind Rajab”, the Academy of Motion Picture Arts and Sciences announced in a release on Tuesday.
The award for best foreign film, now re-categorised as best international feature, has so far eluded India.
Only three Indian films have received nominations in the category -- Mehmood Khan’s “Mother India”, Mira Nair’s “Salaam Bombay” and Ashutosh Gowarikar’s “Lagaan”. Deepa Mehta’s “Water”, starring John Abraham and Lisa Ray, also received a nomination but it was submitted from Canada.
Gujarati film "Chhello Show" in 2023 was the last film to get shortlisted.
Costume designer Bhanu Athaiya was the first Indian to get an Oscar, bagging the coveted prize in 1983 for the film "Gandhi". Other than her, A R Rahman, Resul Pukootty and M M Keeravani have also won individual Oscars.
Team "Homebound" celebrated the shortlist news with posts on social media.
"We made the shortlist... Way to go team Homebound'!" Johar shared in Instagram Stories.
In a post, the producer said it was difficult for him to articulate how "proud and elated" he was with the news.
"All of us @dharmamovies are privileged to have this proud and important film in our filmography... thank you @neeraj.ghaywan for making so many dreams of ours come true... from Cannes to being on the Oscar shortlist this has been such an overwhelming journey! Love to the entire cast and crew and teams of this special special film! Upwards and onwards...."
Ghaywan also shared the news on X.
"#Homebound has been shortlisted for Best International Feature Film at the 98th Academy Awards! We are deeply grateful for the extraordinary love and support we've received from around the world," he wrote on X with a special poster of the film.
Jethwa, who plays one of the two friends in the story opposite Ishaan Khatter, said the moment feels "surreal and incredibly humbling".
"To see 'Homebound' being shortlisted and progressing towards the Oscars is something I could have only dreamed of. I am deeply grateful for the love and support the film has received from audiences around the world," he said as he acknowledged Johar, Ghaywan and co-star Khatter and the rest of the team.
Khatter also shared the news on his Instagram stories and wrote, "Oscar ab dur nahi".
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"Homebound" is inspired by journalist Basharat Peer's The New York Times article “Taking Amrit Home”, also titled "A Friendship, a Pandemic and a Death Beside the Highway".
The film portrays the childhood friendship between a Muslim and Dalit who chase a police job that promises them the dignity they have long been denied due to their surnames.
The Academy on Tuesday also announced shortlists in 11 other categories, including the newly added casting Oscars, animated shorts, cinematography, documentary feature, documentary short, original score and song, sound and visual effects categories.
Nominations for the 98th Academy Awards will be announced on Thursday, January 22, 2026.
Twenty-four categories will be awarded at the 98th Oscars. Each category has five nominees, except for best picture, which has 10.
The 98th Oscars will be held on Sunday, March 15, 2026, at the Dolby Theatre in Los Angeles.
