Income Inequality In India

These inequalities enable the few to get incomes in the form of rent interest and profit.

Income inequality in india. In both india and china income inequality substantially grew after the economic liberalisation of the 1980s. The wef s annual global risks report has also warned that the downward pressure on the global economy from macroeconomic fragilities and financial inequality continued to intensify in 2019. Income inequality in india worsened the most between 2000 and 2007 and narrowed a bit between 2007 and 2018 the un human development report 2019 shows. In the recent years india has joined the club of most unequal countries.

Income inequality has reached historically high levels in india since the 1980s when economic and trade liberalisation began in the country with the top ten percent of the population. In india a few own a large chunk of income earning assets. India has got more unequal over the last two decades india s gini coefficient the official measure of income inequality has gone from 0 32 to 0 38 with 0 being the ideal score. The issues of income and gender inequality are expected to figure prominently in discussions at the five day summit of the wef starting monday.

Based on the new india human development survey ihds which provides data on income inequality for the first time india scores a level of income equality lower than russia the united states china and brazil and more egalitarian. Some others who do not own or own a part of the assets they operate organise finances through banks cooperatives etc and acquire hire productive assets. According to the cia world factbook the gini index of india which is a measure of income distribution inequality was 35 2 in 2011 ranking 95 th out of 157. India is no stranger to income inequality but the gap is widening further.

Income inequality in india refers to the unequal distribution of wealth and income among its citizens. Analysis of income inequality in india.