India has made significant progress in reducing poverty, with extreme poverty -- measured at $2.15 per day in purchasing power parity (PPP) terms -- falling from 16 per cent in 2011–12 to 2.3 per cent in 2022–23, according to the World Bank. The decline lifted 171 million people above the internationally comparable poverty line. In a brief on poverty and equity, the multilateral lender noted that rural extreme poverty in India fell from 18.4 per cent to 2.8 per cent, while urban extreme poverty dropped from 10.7 per cent to 1.1 per cent during the same period.