Economic inequality in India is on rise. What are its consequences and the reasons behind it? Discuss. – IASPOINT

Economic inequality in India is on rise. What are its consequences and the reasons behind it? Discuss.

India’s Gini coefficient value hovers around 0.9 on the Lorenz curve, where the value 1 is perfect inequality and 0 is perfect equality. Inequality has both vertical and horizontal dimensions.

Causes of Economic Inequality:

Consequences:

Required Measures:

Initiatives like the social stock index, the Bare necessities index, and encouraging NGOs and civil societies to work for socio-economic development must be supplemented with an efficient cooperative culture-making rural India self-sufficient to decrease the over rising economic inequality.

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