In a world fractured by uncertainty, India stands out for its policy consistency, paired with sustained ambition, points out Pritam Banerjee.
A recent World Bank report placing India among the most equal countries globally may present a limited view of inequality, with economists suggesting that broader data sets could tell a different story. According to the report, India's Gini index (or coefficient/ratio), a key measure of inequality, stood at 25.5 in 2022-23, placing the country fourth globally in terms of equality, behind only the Slovak Republic, Slovenia, and Belarus.
India is set to become the world's fourth-largest economy in 2025, but slow income growth, lack of structural change, and rising inequality highlight the gap between progress and real transformation.
Gini & Jony Apparel Pvt Ltd, which owns the 'Gini & Jony' kid's lifestyle brand, is planning to hit the capital market with an initial public offer by the end of the current fiscal.
While India should be concerned about disparities, the fact is that whereas three decades ago about half the people had incomes greater than $2.15 a day, today seven out of eight do, notes T N Ninan.
The global economic slowdown that started in 2008 has changed the dynamics of many major economies.
Barcelona winger Raphinha secured a 1-0 win in LaLiga for the second straight week this time at Athletic Bilbao as his side tightened their grip on top spot.
The Gini coefficient, which reflects the wealth gap between rich and poor, was at 0.474 level for China in 2012 -- well above the warning levels, a report has said.
The rich-poor divide has been growing despite the economic boom in several countries.
In economic writings on India it is commonplace to describe Indian economic inequality to be relatively low, says Pranab Bardhan.
'High-value homes are designed and built on slum lands and slums are given residue. They do not have access to free air and live in close proximity of others.'
Covid-19 pandemic that brought life to a near standstill in 2020 has left Indian adults poorer by 6.1 per cent in 2020, suggests the Credit Suisse Global Wealth Report 2021. Wealth per Indian adult in 2020, according to the report, dropped to $14,252 by 2020-end compared to pre-pandemic levels. On a cumulative basis, Credit Suisse estimates the drop in the wealth of Indian adults at $594 billion.
Let's take a look at some nations that have low income inequality.
The widening gap between rich and poor continues to pose a challenge to stability in China, with the latest figures showing that the Gini coefficient reached 0.438 in 2010, which exceeds UN warning levels, the International Institute for Urban Development said in its report in Beijing.
Would more Indians be better off if rich Indians were more austere?
The global wealth currently held by 4.4 billion adults has increased by 72 per cent since 2000 to reach $195 trillion.
At the end of 2014, 70.17 million of China's rural residents lived below the country's poverty line.
The principles of leadership remain constant; it's how leadership is put into practice that keeps getting smarter.
Have inequality levels, as represented by the Gini coefficient, risen from 30.3 in 1983 to 34.3 in 2004-05?
Liverpool's Mohamed Salah ended his Premier League goal drought in style by scoring twice as the champions raided the capital again to crush West Ham United 3-1 on Sunday.
The report also points out that a larger section of the poor and vulnerable households achieve middle-class status in urban areas in India despite the presence of a large urban informal sector.
Here are five talking points from the weekend's action:
Juergen Klopp returns to the scene of one his Liverpool side's most controversial victories of last season this Saturday with the man who fashioned it lining up against him.
The third Lusofonia Games, slated to be held in Goa in November, have been postponed to January due to the slow progress of infrastructure work. The Games of 'Lusophone' (Portuguese-speaking countries) will now be held from January 18 to 29, 2014.
The wide gap in national income held by the ultra-rich and the poor is striking.
'Modi is the first BJP leader to try to include Dalits in its fold.' 'But the rank and file of his party is backward and want to bash up Muslims and Dalits whenever they have a chance.'
Technology infrastructure solves many problems, but it cannot build roads or bridges and provide clean water. However, such activities are essential for human progress, and their creation provides jobs, says R Gopalakrishnan.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
Injuries have blighted Liverpool's start but Adam Lallana is back in full training after damaging his thigh pre-season and is expected to feature while another injury concern, Sadio Mane, also trained on Wednesday after tweaking a hamstring on international duty with Senegal.
India is poorer than the world average and so naturally has a greater percentage of poor people and a lower percentage of rich people. Yet using absolute numbers, India has more of almost everything, which is misleading, says Debraj Ray and Maitreesh Ghatak.
'The world is going to be more insular.' 'What India needs to do is develop the domestic market for domestic consumption.' 'The emphasis has to be on Bharat as against India.'
'Is a rapidly growing working-age population a prerequisite for growth or a social tinderbox?'
'He is the man,' US President Barack Obama had said at a G-20 gathering, enhancing Lula's stature. Six years later, has Brazil's impressive economic growth turned to sand? Will a President, who enjoyed an 80 per cent approval rate in his country, be arrested? Ambassador B S Prakash, India's former envoy to Brazil, explains what has gone wrong in one of India's BRICS partner nations.
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
Dr Manmohan Singh would be faced with very few choices in Beijing given the Chinese conceived notions of the world today and India's low place in their calculus, says Srikanth Kondapalli.
The temptation to rehash Manmohanomics is not going to deliver the achche-din that Narendra Modi has promised, warns Sriram Balasubramanian.
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