Recent statements by Indian government officials claiming the elimination of extreme poverty are being scrutinized by experts like Ashoka Mody from Princeton University. New data and methods suggest a significant reduction in extreme poverty in India, but concerns remain about the accuracy of GDP numbers, as highlighted by former chief economic adviser Arvind Subramanian. The transformation from 60% to practically zero extreme poverty over a few decades is attributed to India's shift towards capitalism and liberalization.
In the 70s, 60% of Indians lived in extreme poverty. When India liberalized in 1991, it was 50%. Today, extreme poverty has been practically eliminated, per Brookings. Extreme poverty is defined as $1.90/day (PPP adjusted) https://t.co/56ej1toanz https://t.co/MCSSd4ZyG1
In one generation or so (!!!) India has eliminated extreme poverty. Thank you Capitalism! https://t.co/PfmWvNrKH6
Speaking at the India Today Conclave, former chief economic adviser Arvind Subramanian said the GDP numbers don't add up and are 'mystifying' #IndiaTodayConclave24 https://t.co/fAdhqSbqm6
That is big news. New data and new method suggest India has practically eliminated extreme poverty https://t.co/0bSOvqlWsO
While Indian government officials point to recent consumption figures to proclaim that extreme poverty has been eliminated, a closer look reveals the grim reality behind these misleading statistics, writes @Princeton’s @AshokaMody. https://t.co/oKT0TRBIkl