The world has achieved its first Millennium Development Goal of cutting extreme poverty in half ahead of the 2015 deadline, a study by the World Bank showed on March 9, 2012. The bank defines extreme poverty as living on under $1.25 per day, adjusted for purchasing power parity.
According to the report, 1.29 billion people, or 22 per cent of the developing world’s population, live below $1.25 a day, down from 52 per cent in 1981. In India, 32.7 per cent of the population subsists on less than $1.25 per day and 69 per cent make only $2 a day. In rural India, 34.28 per cent of the population lives on less than $1.25 a day, down from 43.83 per cent in 2005. In urban India, 28.93 per cent of the population is in extreme poverty, down from 36.16 per cent in 2005, according to the report.