The global poverty projections for 2015 was released by the World Bank on 4th October, 2015.As per the report, 9.6% of the world population live in extreme poverty. It is for the first time the numbers have fallen below 10% . The numbers were arrived at based on a revised benchmark of measuring poverty. Previously, extreme poverty was defined as living on or below $1.25 a day, but the World Bank's adjustment now sets the poverty line at $1.90 a day.This change reflects the differences in the cost of living across countries, while preserving the real purchasing power of the previous line.
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