What is the estimated poverty line for urban areas according to the SBI report for the year 2022-23?

Solution

•     According to a recent study released by the State Bank of India (SBI) , India's headline poverty rate stood between 4.5 and 5 per cent in 2022-23.  •     The study by the government-run bank, which is based on the latest Household Consumption Survey (HCES), showed that rural poverty declined to 7.2 per cent in 2022-23 from 25.7 per cent in 2011-12. Meanwhile, urban poverty declined to 4.6 per cent from 13.7 per cent during the same period. •     This indicates that many government programmes currently for those at the bottom of the pyramid are having a significant salutary impact on rural livelihood. •     The SBI report estimated the new poverty line at Rs 1,622 for rural areas and Rs 1,929 for urban areas, based on the recommendations of an expert group headed by Suresh Tendulkar, which had estimated a poverty line of Rs 816 for rural and Rs 1,000 for urban areas in the year 2011-12. •     Earlier, a World Bank paper had shown that India's poverty rate had declined to 11.6 per cent for rural areas and 6.3 per cent for urban areas in 2018-19. Learn Along: About SBI Chairperson: Dinesh Kumar Khara           Founded: 1 July 1955                 Headquarters: Mumbai