ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -To track progress towards its goal of eradicating extreme poverty by 2030, the UN relies on World Bank estimates of the share of the world population that fall below the International Poverty Line. In September 2022, the figure at which this poverty line is set shifted from $1.90 to $2.15.

Detailed explanation-2: -c) The international poverty line set by The World Bank is a global benchmark, currently $1.90 a day per person in 2011 purchasing power parity terms, below which a person’s minimum nutrition, clothing, and shelter needs cannot be met.

Detailed explanation-3: -This formed the basis for the first dollar-a-day international poverty line. The IPL of $1.90, which was used until fall 2022, was derived as the mean of the national poverty lines of 15 poor countries in the 1990s, expressed in 2011 PPPs. The selection of these 15 poor countries was based on limited data at the time.

Detailed explanation-4: -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.