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Fast economic growth, rapid urbanisation to slash number of people in poverty by 2021: Jaitley
Apr-16-2019

Finance Minister Arun Jaitley has said that fast economic growth and rapid urbanisation would slash the number of people in extreme poverty by 2021 and it will completely be ended in the decade after that. The Minister also said the number of people who live in poverty will drop to below 15% in the next three years and to a negligible level in the 10 years after that. He added economic problems could be addressed as India remained the world's fastest growing major economy.

He further mentioned urbanization will increase, the size of the middle-class will grow and the economy will expand manifolds.  These will add to the number of jobs, and as the experience of the past three decades have shown in the liberalised economy, every section of citizens will benefit.

He underlined that economic growth in recent years had generated enough revenue for states to work more on poverty alleviation, job creation and improving healthcare and education. Besides, according to the World Bank, more than 21% of India's 1.3 billion people lived on less than $1.90 a day in 2011, when the last census was taken, according to the World Bank.

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