Using sample data from the 62nd round of the National Sample Survey, this paper estimates the headcount ratio of poverty for 2005-06. This estimate, based on the methodology recommended by the 1993 Planning Commission expert group, is compared with the poverty ratio for 2004-05 as derived from the 61st round of the nss. While the two estimates are strictly speaking not comparable, the numbers show a 1.4 to 1.6 percentage point decline in the headcount ratio between the two years, as against the 0.8 percentage point trend rate of decline between 1993-94 and 2004-05.