Context
An International Monetary Fund (IMF) working paper by Bhalla, Bhasin and Virmani (henceforth called BBV) has come out with a series of poverty projections based on different assumptions, the most optimistic of which shows extreme poverty virtually disappearing at just 0.86% of the population (12 million people).
Key-highlights
Purchasing power parity (PPP) is a metric that equalises the buying power of different currencies to make comparisons easy. |
The Gini coefficient ranges from 0 to 1, with 0 representing perfect equality and 1 representing perfect inequality. |
What is Extreme Poverty?
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India’s poverty line
Rangarajan Committee
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NSO’s poverty figure
Poverty Alleviation Scheme
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