As India is one of the fastest-growing economies in the world, poverty is on the decline in the country, with close to 18 Indians escaping extreme poverty every minute, as per the World Poverty Clock. India has 86.8 million people living in extreme poverty which makes up ~6% of its total population as of early 2021. In May 2012, the World Bank reviewed and proposed revisions to their poverty calculation methodology and purchasing power parity basis for measuring poverty worldwide. It was a minimal 3.6% in terms of percentage. As of 2020, the incidence of multidimensional poverty has significantly reduced from 54.7 percent in 2005 to 27.9 percent in 2015-16.