India's poverty industry

India remains a poor country. No doubt about that. Its human deve-lopment indices are a shame. We know that. How do we measure poverty? Opinions vary, but there is agreement that the bar was set too low at Rs 32 per day per capita, adjusted for inflation, under the old Tendulkar formula. The revised Rangarajan formula remains work-in-progress and has yet to be announced. The question, however, remains — has poverty declined?

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