This paper examines the changes in poverty incidence and monthly per capita expenditure in India using the National Sample Survey’s unit record data of three rounds, 1993-94, 2004-05 and 2009-10. The changes in poverty and growth in MPCE have been measured for major socio-religious and economic groups in both rural and urban sectors. This is complemented by the decomposition of the change in the incidence of poverty into the growth and distribution components. The results indicate that the poverty rate has declined at an accelerated rate during 2004-05 – 2009-10 for all socio-religious household groups. Growth has been more poverty reducing at an aggregate level during the period 2004-05 – 2009-10 as compared to 1993-94 – 2004-05. However, some groups benefited more than the others from poverty reduction. Inequality has also begun to adversely affect poverty reduction, particularly in the urban sector.