India is home to roughly one-third of all poor people in the world. It also has a higher proportion of its population living on less than $2 per day than even sub-Saharan Africa.

That is the sobering news coming out of the World Bank’s latest estimates on global poverty. The fine print of the estimates also shows that the rate of decline of poverty in India was faster between 1981 and 1990 than between 1990 and 2005. This is likely to give fresh ammunition to those who maintain that economic reforms, which started in 1991, have failed to reduce poverty at a faster rate.

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