Poverty in India on purchasing power parity. According to United Nation's Millennium Development Goals (MDG) programme 270 millions or 21.9% people out of 1.2 billion of Indians lived below poverty line of $1.25 in 2011-2012. From late 19th century through early 20th century, under British colonial rule, poverty in India intensified, peaking in the 1920s. Famines and diseases killed millions each time. After India gained its independence in 1947, mass deaths from famines were prevented. Rapid economic growth since 1991, has led to sharp reductions in extreme poverties in India. However, those above poverty line live a fragile economic life. As per the
Colonial India Olson concludes that the East India Company's attempt to annexe and expand its direct control of India, by arbitrary laws such as Doctrine of Lapse, combined with employment discrimination against Indians, contributed to the 1857 Rebellion. The East India Company officers lived like princes, the company finances were in shambles, and the company's effectiveness in India was examined by the British crown after 1858. As a result, the East India Company lost its powers of government and British India formally came under direct British rule, with an appointed Governor-General of India. The East India Company was dissolved the following year