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India’s rural poverty fell from 25.7% in 2011 to 4.86% in 2023, says an SBI report, highlighting progress in inclusive growth.
NEW DELHI: Rural poverty in India has plummeted from 25.7% in 2011 to just 4.86% in 2023, in a significant socio-economic development, according to a report by the State Bank of India (SBI). This remarkable reduction highlights the country’s strides toward achieving inclusive growth and bridging the urban-rural divide.
The report attributes this dramatic decline primarily to sustained economic growth, robust rural development initiatives, and targeted government interventions. Flagship programs like Pradhan Mantri Awas Yojana (housing for all), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), and initiatives promoting financial inclusion under Jan Dhan Yojana have played pivotal roles in uplifting rural households.
Additionally, rural electrification, improved road connectivity, and the proliferation of digital banking have enabled greater access to resources and opportunities, driving significant income growth in India’s heartland. The SBI study also highlights the increasing penetration of direct benefit transfer (DBT) schemes, which have ensured that welfare benefits reach the intended beneficiaries without leakages.
Another key factor underscored in the report is the impressive growth in agricultural incomes. Government measures have contributed to this upward trajectory, including Minimum Support Prices (MSPs) for crops, crop insurance schemes, and subsidies for fertilizers and irrigation. With agriculture employing a majority of rural households, this sector’s revival has been instrumental in poverty alleviation.
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However, the report also calls for continued vigilance. While the poverty reduction is commendable, ensuring sustainability will require tackling emerging challenges, such as climate change impacts on agriculture, migration from rural areas, and the growing need for skill-based employment opportunities.
Experts suggest that accelerating the pace of rural education, healthcare, and entrepreneurship will be crucial in maintaining this progress. As rural India transitions to a more connected and economically active region, disparities within states and districts must also be addressed to ensure balanced growth.
The SBI findings are a testament to India’s focused efforts over the past decade and offer a hopeful outlook for the future.
