Knowledge Note

India has experienced remarkable growth over the past decade and now has the fourth largest economy in purchasing power parity terms.1 It is home to 15 percent of the world’s population—a population of great diversity in culture, language and religion. India has also made progress on most of the Millennium Development Goals (MDGs) and has invested resources generated from growth into programs to deliver services to the poor.1 Poverty is widespread in India with 42 percent of the population, or 456 million people,2 subsisting on less than US $1.25 per day.