The World Bank statement said the new definition of the poverty estimate in 2005 is the world's poorest countries from 10 to 20 derived based on the average. There are about 1.4 billion people lower than the global standards, accounting for 26 percent of the total global population.
Reported that the World Bank made the latest definition under the global cost of living up. It is estimated that up to 2005, and India's 455 million people living in extreme poverty, representing an increase of 36 million comparing with 1981. The World Bank in a statement said that the India's high economic growth is to reduce the number of people living in extreme poverty.
According to Indian official estimates, from 2004 to 2005, there 301.72 million people living in extreme poverty. The World Bank statement said that, as in the poorest countries the proportion of the population, the proportion of people living in extreme poverty in India over the same period from 60 percent to 42 percent, still higher than the official estimate of India's 27.5 percent.
Originally Posted: China Business Daily
Author: Angulo Fu