‘Millions lifted out of poverty’ in India but many still lead precarious lives on the edge
Healthcare expenses are the biggest risk that can push people back into a vicious cycle of debt and distress.
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The forecast was cloudy skies with possibility of light rain or thunderstorms. But on the morning of India’s 77th Independence day, on August 15, 2023, things moved as planned in New Delhi.
Prime Minister Narendra Modi hoisted the flag and waited to deliver his customary address to the nation. When the National Flag Guard began marching out from the open courtyard of the main gate of the Red Fort, a military brass band played Saare Jahan Se Accha. To its beats, Modi tapped on the slanted top of the lectern. Then, in his address, he laid out a grand vision.
By 2047, he said, India will become a developed country, and he brought attention to the impact of his economic policies. “13.5 crore [135 million] of my fellow poor brothers and sisters have broken free from the chains of poverty and entered the new middle class. There can be no greater satisfaction in life than this,” he said. In January 2024, this number was upgraded: 250 million Indians lifted out of poverty since 2015.
Previously, from 2005 through 2015, about 271 million Indians had escaped poverty. In April, when former prime minister Manmohan Singh retired from Rajya Sabha, Congress President Mallikarjun Kharge credited Singh for the feat. “Thanks to your policies, India was able to...
