Advertisement

HindustanTimes Sun,13 Jul 2014

Poverty level in India drops to 22%: PlanComm

Kirthi Rao/Mint  New Delhi, July 24, 2013
First Published: 07:46 IST(24/7/2013) | Last Updated: 19:11 IST(24/7/2013)

Poverty in India declined to a record 22% in 2011-12, the Planning Commission disclosed on Tuesday. Over the last decade, poverty has witnessed a consistent decline with the levels dropping from 37.2% in 2004-05 to 29.8% in 2009-10.

Advertisement

The number of poor is now estimated at 269.3 million, of which 216.5 million reside in rural India

While the trend is not surprising, the extent of the decline has opened up a debate on the factors that have led to it. The numbers themselves may be debatable but they are reflective of a broader trend.

One theory is that this is the outcome of the trickle-down impact of the record growth witnessed in the first decade of the new millennium.

Read rest of the story on  the LiveMint website.

 


Advertisement
more from Business

Doubling of tax on debt mutual funds to hit retirees

On Thursday, finance minister Arun Jaitley gave investors and the mutual fund industry a jolt by increasing the long-term capital gains tax on debt mutual funds to 20% from 10%. The definition of long-term has also been changed to 36 months for non-equity MFs from 12 months.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved