Introduction

India’s extreme poverty declined from 27.1% in 2011 to 2.6% in 2023. However, poverty reduction alone does not ensure economic security and prosperity.

Major Barriers

• Informal employment: Around 90% workforce lacks adequate job security and social protection.
• Low wages: Stagnant real wages restrict purchasing power.
• Distress employment: Rising unpaid family work reflects low productivity.
• Skill deficit: Education often fails to provide industry-relevant skills.
• Health expenditure: High out-of-pocket spending pushes vulnerable families into poverty.
• Regional inequality: Eastern States continue to face multidimensional deprivation.

Way Forward

• Manufacturing: Promote labour-intensive sectors like textiles, footwear and food processing.
• Wage security: Implement a national floor wage.
• Skill development: Integrate paid apprenticeships with education.
• Social investment: Increase public spending on health and education.
• Transparency: Disclose learning and healthcare outcomes.
• Inclusive growth: Monitor income and consumption growth of the bottom 40%.

Conclusion

India must move beyond poverty reduction towards productive employment, social security and equitable income growth to achieve Viksit Bharat 2047.