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Describe poverty trends in India since 1993. - Economics
Describe poverty trends in India since 1993.
The poverty trends in India since 1993 show a significant decline in the poverty ratio, although the total number of poor people remained high for a long time.
Key points regarding the trends are:
Decline in Poverty Ratio: There has been a steady decline in the poverty ratio in India from about 45% in 1993-94 to 37.2% in 2004-05.
Further Reduction: The poverty ratio further dropped to about 21.9% in 2011-12.
Decrease in Number of Poor: For a long time, the number of poor people remained stagnant around 320 million due to population growth. However, according to latest estimates (2011-12), the number of poor has significantly declined to about 270 million.
Rural vs. Urban: Both rural and urban areas have seen a downward trend, but poverty remains more prevalent in rural areas than in urban areas.
Future Projections: If the current pace of poverty reduction continues, the poverty ratio is expected to fall significantly lower in the coming years.
Vulnerable Groups: Despite the overall decline, poverty remains high among specific social groups like Scheduled Tribes and Scheduled Castes, and economic groups like agricultural labourers.