BANKING AFFAIRS

Detailed explanation-1: -SDG target 1.1 aims to eradicate extreme poverty entirely by 2030. In 2013, the World Bank set a similar numerical target: to reduce the extreme poverty rate to 3 percent. Using reported macroeconomic data, estimates can be extended from 2017 to 2019. They suggest that the global poverty rate fell below 9 percent.

Detailed explanation-2: -Poverty measured at the international poverty line of $1.90 a day is used to track progress toward meeting the World Bank target of reducing the share of people living in extreme poverty to less than 3 percent by 2030.

Detailed explanation-3: -People living below a poverty line don’t have enough to meet their basic needs. Countries typically define national poverty lines, and we use the lines of a group of the poorest countries to define the international extreme poverty line of $1.90 per day. SUBSCRIBE HERE. © 2023 The World Bank Group, All Rights Reserved.

Detailed explanation-4: -Q. Which of the following countries has the largest percentage of population living below the poverty line as defined by the World Bank in 2001? Q. As of 2021, India houses 140 billionaires, while over 86 million people live in extreme poverty, i.e., they earn less than $2 or ₹148 per day.

Detailed explanation-5: -The last change was in September 2022, when the World Bank adopted $2.15 as the international poverty line using the 2017 PPP. Prior to that, the 2015 update set the international poverty line at $1.90 using the 2011 PPP.