What is extreme poverty To what degree would you describe meeting Goal Essay

What is extreme poverty To what degree would you describe meeting Goal 1 Target 1 of the Millennium Development Goal as a success - Essay Example With it there has been a considerable drop in incomes which resulted in additional 50 million people being left in extreme poverty in 2009. Based on the projections the global poverty which is measured at $ 1.25 a day will fall to 15 percent by 2015 and it will leave 918 million people below the poverty line. Though over the past three decades poverty has declined rapidly, but human society still faces complex and urgent challenges. Worldwide more than 1 billion people live in a state of destitution. With rise in social exclusion and inequality the problem of extreme poverty is rising. This report will take a look at the extreme poverty and the various goals regarding it. In 2013 the Board of Governors of World Bank has endorsed two new goals. First is that the World Bank Group will commit its energy into bringing an effective end to the extreme poverty by 2030. This means that that they have to reduce it to no more than 3 percent the fraction of the population of the world who are living on less than $ 1.25 percent per day. The second goal is to ensure that the benefits of prosperity will be shared by promoting income growth of the bottom 40 percent of the people. The World Bank group aim at achieving both the goal in a sustainable manner and hence help secure the long term future of the planet and its resources (Và ¶rà ¶smarty, and et.al. 2010, p. 173). The World Bank originally defined extreme poverty as individuals who are living on the equivalent of less than $ 1 per day. In 2008 it was then updated to $ 1.25 per day. In 1990 the number of people living in extreme poverty was estimated at 1.2 billion. According to World Bank the percentage of people living in extreme poverty globally will fall to no more than 3 percent by 2030 (United Nations, 2010, p. 351). In 1980s it was common for the nations to use their general economic surveys and national income accounting for identifying a poverty line (Rogers, Jalal