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Nepal and Bangladesh are reducing poverty faster compared to India, according to a new study based on the multidimensional poverty index developed at the University of Oxford and used by the UNDP in its Human Development Reports. India also made significant progress in reducing poverty between 1999 and 2006, but at a rate that was less than one-third of the speed of its poorer neighbours, with a reduction in poverty rates of 1.2 percentage points per year [instead of 4.1 per cent (Nepal) or 3.2 per cent (Bangladesh)], the study found.