Rural poverty in India falls below 5% for first time
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Rural poverty in India has witnessed a sharp decline, dropping below 5% for the first time in FY 2023-24. The finding comes from a recent SBI Research study. According to the report, the rural poverty ratio fell to 4.86% in FY24, a significant drop from last year's 7.2%. The improvement is largely due to a rise in rural spending and government measures like Direct Benefit Transfer (DBT).