DMPQ-Throw light on the key findings of world bank’s report “Poverty and Shared Prosperity 2020: Reversals of Fortune”.

. Poverty and Shared Prosperity 2020: Reversals of Fortune provides new data and analysis on the causes and consequences of this reversal and identifies policy principles countries can use to counter it. The report presents new estimates of COVID-19’s impacts on global poverty and inequality. Harnessing fresh data from frontline surveys and economic  simulations,  it  shows  that  pandemic-related  job  losses  and  deprivation  worldwide  are  hitting  already-poor  and  vulnerable  people  hard,  while  also  partly  changing the profile of global poverty by creating millions of “new poor.”

  • India, along with Nigeria, is considered to have the largest number of the poor in the world. India tops the global list in terms of absolute number of poor, going by the last national survey of 2012-13. The country accounted for 139 million of the total 689 million people living in poverty in 2017.
  • It is, thus, imperative that if the world has to meet its United Nations-mandated Sustainable Development Goal (SDG) I to eradicate poverty by 2030, India has to achieve this goal first.
  • India was to release its latest household consumer expenditure survey data by the National Statistical Office (NSO, 75th round) for 2017-18 last year. Consumption expenditure is taken as a proxy for gauging income levels in India.
  • The latest data on poverty in India is from a survey done in 2011-12, or almost a decade-old. This was based on a household consumption expenditure survey (68th round) done by the NSO, the nodal agency that conducts these surveys.
  • For its latest report, the World Bank hinted that the estimate of new poor due to COVID-19 might not be reflecting the real picture. “The new profile of the poor comes with an important caveat: It misses a large group of the global poor, those who live in India,” it said.
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