IMF's Report on India’s Poverty

INDEX / REPORTS

  • Recently a report ‘Pandemic, Poverty, and Inequality: Evidence from India’ was released by the International Monetary Fund (IMF).
  • As per the report, Extreme poverty in India was recorded at less than 1% in 2020 and 2021 - the period which was a peak of the COVID wave in the country.
  • The organization credited the ‘Pradhan Mantri Garib Kalyan Anna Yojana’ (PMGKAY) for preventing the country from rising the ratio of extreme poverty.
  • Currently, extreme poverty in India is recorded at 0.284% as of 1993-94. Maintaining such a low percentage for consecutive years can be considered the elimination of extreme poverty in the country.
  • Extreme poverty is defined as “less than purchasing power parity (PPP) of USD 1.9 per person per day”.

 

Facts to know: 

 

  • PMGKAY, a food security scheme was launched in March 2020 to provide free food grains to those in need.
  • The scheme was extended till September 2022.
  • The scheme is operated by the Department of Food and Public Distribution.
International Monetary Fund

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