Poverty and Shared Prosperity Report

Why in news?

• Poverty and Shared Prosperity Report has been published.

About the report:

• It is a biennial report published by World Bank.
• As per the report, between 88 million and 115 million additional people will be pushed into extreme poverty in 2020, bringing the total to between 703 and 729 million living on less than $1.90 a day.
• It is for the first time in 20 years that Global extreme poverty is expected to rise.
• As per the report, COVID-19 is exacerbating the impact of conflict and climate change, which were already slowing down poverty reduction.
• Some 9.1% to 9.4% of the world will be affected by extreme poverty in 2020, the Bank said, compared to 7.9% in the counterfactual scenario where the pandemic had not raged across the world.

Lack of data in India

• As the government decided not to release the 2017-18 All India Household Consumer Expenditure Survey data from the 75th Round, the Bank has estimated India’s poverty numbers for 2017 (the anchor reporting year for the 2020 global update) based on “strong assumptions”, resulting in uncertainties.
• In 2017 India accounted for 139 million of the 689 million people living in poverty in 2017.

PRELIMS QUESTION

”Poverty and Shared Prosperity Report” is published by:
(a)International Monetary Fund
(b)World Bank
(c)UNDP
(d)Last Hope Foundation

Answer to Prelims Question