The World Bank Revised the Global Poverty Line

The World Bank Revised the Global Poverty Line:

The World Bank revised the global poverty line to $3/day (PPP 2021) from $2.15/day (PPP 2017) based on updated price data and survey methods. A poverty line defines the minimum daily spending needed for basic needs like food, clothing, and shelter.
The global poverty line is adjusted using Purchasing Power Parity (PPP) to allow comparison across countries regardless of currency value.Poverty is measured as the percentage of people living below a certain daily expenditure level (e.g., $2.15/day).
The World Bank uses household consumption data, adjusted for PPP and inflation, to calculate national and global poverty rates.The new estimate reflects richer consumption data and updated cost of living, especially in countries like India.
Extreme poverty line is now based on the median poverty line for low-income countries.