State Bank of India Poverty Reduction Report

• Key Findings:
  • Rural Poverty Reduction: The poverty ratio in rural areas has significantly decreased, standing at 4.86% in FY24, down from 7.2% in FY23.
  • Urban Poverty: The urban poverty ratio also declined to 4.09% in FY24, from 4.6% in FY23.
  • Contributing Factors:
    • Improved Infrastructure: Development in rural infrastructure.
    • Consumption Growth: Rapid growth in rural consumption levels.
    • Direct Benefit Transfers: Government transfers played a major role in poverty reduction.

Multidimensional Poverty Index (MPI)