Poverty in India is estimated to have declined to 8.5% in 2022-24 from 21.2% in 2011-12, despite pandemic challenges, according to a research paper by the economic think tank NCAER.

The paper, titled 'Rethinking Social Safety Nets in a Changing Society' and authored by Sonalde Desai of NCAER, utilized data from the newly completed Wave 3 of the India Human Development Survey (IHDS), as well as data from Waves 1 and 2.

"According to the IHDS findings, poverty significantly declined from a headcount ratio of 38.6 in 2004-2005 to 21.2 in 2011-12, and continued to decline to 8.5 between 2011-12 and 2022-24 despite the pandemic challenges," the paper states.

Earlier this year, NITI Aayog CEO B V R Subrahmanyam reported that the latest consumer expenditure survey indicates poverty has fallen to 5% nationwide, with increasing prosperity in both rural and urban areas.

Notably, on February 24, the National Sample Survey Office (NSSO) under the Ministry of Statistics and Programme Implementation released data showing that per capita monthly household expenditure more than doubled in 2022-23 compared to 2011-12.