In a stark contrast, India has made significant strides in reducing poverty, lifting 171 million people out of extreme poverty between 2011-12 and 2022-23, according to the World Bank. India’s extreme poverty rate has declined sharply to 5.3% over the past decade, from 27.1% in 2011-12. In a stark contrast, India has made significant strides in reducing poverty, lifting 171 million people out of extreme poverty between 2011-12 and 2022-23, according to the World Bank. India’s extreme poverty rate has declined sharply to 5.3% over the past decade, from 27.1% in 2011-12.