Despite the obstacles given by the pandemic, poverty in India is expected to fall to 8.5% in 2022-24 from 21.2 percent in 2011-12, according to a research paper published by the economic think tank NCAER. Sonalde Desai of NCAER authored the study titled ‘Rethinking Social Safety Nets in a Changing Society’, which incorporated data from the recently completed Wave 3 of the India Human Development Survey (IHDS), as well as data from Waves 1 and 2.

According to the study, economic progress and poverty reduction generate a dynamic environment that need flexible social protection programs. Traditional solutions for addressing chronic poverty in a significant proportion of society may become less effective when accidents of birth take precedence over accidents of life, it added.The study stated that ensuring that social protection systems keep up with the pace of social transformation will be a major challenge for India as it tries for equitable development.

According to the paper, economic growth creates more opportunities, potentially reducing long-term factors causing poverty while increasing the significance of life’s unforeseen events like natural disasters, illness, death, and shifts in job opportunities specific to occupations.

Latest consumer expenditure survey indicates poverty in India has dropped to 5%. NITI Aayog Shri CEO B. V. R. Subrahmanyam recently highlighted that adjusting the poverty line with the Consumer Price Index shows that the lowest 0-5% bracket maintains similar consumption levels, indicating persistent poverty in this segment.

The National Sample Survey Office (NSSO), under the Ministry of Statistics and Programme Implementation, released data on household consumption expenditure for 2022-23, revealing a more than twofold increase in per capita monthly household spending compared to 2011-12.