Poverty Below 5% of Population: NITI Aayog CEO

The population of poor Indians is less than 5%, and extreme destitution has almost gone away, informed NITI Aayog CEO BVR Subrahmanyam, as the summary of a survey report on consumption and expenditure was released on February 25. 

Citing the findings of the Household Consumption Expenditure Survey (HCES) for 2022-23. Retail inflation has also likely been overstated in recent years, he added.

According to the Household Consumption Expenditure Survey, the monthly per capita consumer expenditure of the country’s bottom 5 percent is Rs 1,441 in rural India and Rs 2,087 in urban India.

The urban-rural consumption divide has narrowed to 71% in 2022-23 from a peak of 91% in 2004-05, so inequality is declining, he said, even as rural households’ spending on food has dropped below 50% of their total expenditure for the first time.