16 years ago, roughly one-third of India’s population lived on less than $1 a day. The poverty rate in India has improved…but not by much.
Today, about 25% of India’s population survives on $1 a day.
India is booming, but the poverty is still horrible.
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The severity of the global food crisis is undeniable. Prices of major commodities have increased substantially over the last three years, and especially, in the last few months. According to the World Bank, about 100 million people
might be thrown back into the ranks of the poor because of these price rises. There have been riots in a number of countries, and the Bank has identified 33 as especially vulnerable. The poor are especially vulnerable because they spend the largest
portions of their income on food. For example, in Nigeria, about 70 per cent of income is spent on food, 75 per cent in Vietnam, and 50 per cent in Indonesia compared with 12 per cent in the United States (though that figure is also now on the rise).