Govt: Refined consumption data helped defy the odds | India News

NEW DELHI: India’s updated consumption data significantly influenced World Bank’s global benchmark and improved methods captured more actual spending, leading to a more realistic poverty line and lower poverty rate despite an increase in the threshold, govt said on Saturday.World Bank has announced a revision to global poverty estimates, raising the international poverty line from $2.15/day (2017 PPP) to $3.00/day (2021 PPP). While the change led to a global increase in the count of extreme poverty by 125 million, India emerged as a statistical outlier in a positive direction, a govt fact sheet said.It said using more refined data and updated survey methods, India not only withstood the raised threshold but also demonstrated a massive reduction in poverty. “The new poverty line would have increased the count of global extreme poverty by 226 million people. But thanks to India’s data revision, the net global increase was only 125 million-as India’s revised data reduced the count by 125 million on its own,” said govt fact sheet titled ‘India’s Poverty Story Transformed’.