<P> Poverty is a significant issue in India, despite being one of the fastest - growing economies in the world, clocked at a growth rate of 7.11% in 2015, and a sizable consumer economy . The World Bank reviewed and proposed revisions on May 2014 to its poverty calculation methodology and purchasing power parity basis for measuring poverty worldwide . According to this revised methodology, the world had 872.3 million people below the new poverty line, Nigeria, and Congo is expected to overtake India by the end of 2019 . As of 2014, 58% of the total population were living on less than $3.10 per day . According to the Modified Mixed Reference Period (MMRP) concept proposed by World Bank in 2015, India's poverty rate for period 2011 - 12 stood at 12.4% of the total population, or about 172 million people; taking the revised poverty line as $1.90 . </P> <P> The World Bank has been revising its definition and benchmarks to measure up poverty since 1990, with a $2 per day income on purchasing power parity basis as the definition in use from 2005 to 2013 . Some semi-economic and non-economic indices have also been proposed to measure poverty in India; for example, the Multi-dimensional Poverty Index placed 33% weight on number of years spent in school and education and 6.25% weight on financial condition of a person, in order to determine if that a person is poor . </P>

How much population is below poverty line in india