Half Of India Was Below Poverty Line In 2010: ADB

By siliconindia  |  Monday, 30 November -1, 05:30:00 AM IST



This shows considerable reduction in poverty, but the figures are dazzling to Martin Ravallion, senior vice-president at the WB.

According to Ravallion, if the poverty rates are decreasing and there is growing development, a country is expected to see a sharp rise in the Price Index; instead it has fallen in India to 0.324, which are contradicting to the 2011 rates. Therefore he simply adjusted 2005 PPP numbers using India’s GDP deflator, which led to higher PI of 0.43, where the poverty line stands at $1.53 which is very close to the estimates of ADB.

World Bank Chief Economist Kaushik Basu said, “We should simply recognize that PPP has inherent shortcomings and treat statements of country size and power with, let us say a fistful of salt.”

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