Is India the poorest country in the World?
Life is a burden
According to World Bank’s latest estimates on global poverty India is home to roughly one-third of total poor in the world. It also has the highest percentage of people living on less than $2 per day which is far lower than people living in Sub-Saharan Africa. Sub-Saharan Africa considered the world’s poorest region has 72.2% of its population living below $2 per day whereas in India it is 75.6% of the population. Estimates also show that the rate of decline of poverty in India was faster during 1981 to 1990 than between 1990 and 2005, which shows economic reforms have done little benefit to the poor.
India houses about 42% of the population that is 456 million people living below the new international poverty line of $1.25 per day. The Indian poor also constitute 33% of the global poor population, which is estimated to be 1.4 billion.
The estimates are based on recently recalculated purchasing power parity (PPP), which makes comparisons across countries; hence dollar exchange rate mentioned here are not the ones used in normal exchange rates
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