🇮🇳 India's poverty at its lowest level..

🇮🇳 India has released official consumption expenditure data for 2022-23. It provided the first official survey-based poverty estimates for India in ten years. The previous official survey was conducted from 2011-12. Lack of up-to-date data for India adds considerable uncertainty to global poverty census ratios.

📊 India has adopted two different methods for estimating consumption expenditures. One is the Uniform Recall Period (URP) and the second is the Modified Precision Mixed Recall Period (MMRP). The URP method is a survey of households on their consumption expenditure over a uniform recall period of 30 days. MMRP calculates household consumer expenditure on perishable goods (for example, fruits, vegetables, eggs) in the last 7 days, durable goods in the last 365 days, and all other goods in the last 30 days. India has officially switched to MMRP as standard in other countries with the 2022-23 survey. But it has experimented with both methods in the past. Surveys indicate that there has been a significant reduction in poverty in India.