India not the poorest country in the world: Study

A recent report called "The start of New poverty narrative" by the World Poverty Clock has moved India to the second position in terms of poverty-ridden countries.

The report that defines extreme poverty as living on less than $1.9 a day, has said that India is showcasing one of the fastest rates of poverty reduction in the world.

It also hinted that if the trend continues, India may slip down to the third level in terms of accommodating people below the poverty line.

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One of the largest economy in Africa and the oil-rich country Nigeria has overtaken India to emerge as the country with the largest number of people living in extreme poverty.

The report reveals an estimated 87 million Nigerians or around half of the country's population to be living on less than $1.90 a day. While India has 73 million people living under poverty line.

"What is more, extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall", the report said.

The findings also show that over 643 million people across the world are living in extreme poverty with Africa accounting for about two-thirds of this population.

The report said that by 2022 less than 3 per cent of Indians will be poor and the poverty could be eliminated altogether by 2030 in the country.