{"id":53582,"date":"2025-07-06T13:13:53","date_gmt":"2025-07-06T07:43:53","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=53582"},"modified":"2025-07-07T17:58:02","modified_gmt":"2025-07-07T12:28:02","slug":"india-ranks-4th-in-global-income-equality-world-bank-report","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/india-ranks-4th-in-global-income-equality-world-bank-report\/","title":{"rendered":"India Ranks 4th in Global Income Equality &#8211; World Bank Report"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Global Income Equality Latest News<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to a <a href=\"https:\/\/vajiramandravi.com\/current-affairs\/world-bank-group\/\" target=\"_blank\">World Bank<\/a> report, inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">India Emerges as the Fourth Most Equal Country in the World<\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">According to the World Bank\u2019s latest estimates, India has achieved a remarkable position as the fourth most income-equal country globally, with a Gini Index score of 25.5. Only the Slovak Republic, Slovenia, and Belarus have recorded better equality indicators.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This development comes alongside a <\/span><b>significant reduction in extreme poverty, falling from 16.2% in 2011-12 to just 2.3% in 2022-23<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Over 171 million Indians have been lifted out of extreme poverty in the last decade, signalling the success of India\u2019s welfare-oriented policy architecture.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Understanding the Gini Index and India&#8217;s Score<\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>Gini Index<\/b><span style=\"font-weight: 400;\"> is a statistical measure used to gauge inequality in income, wealth, or consumption. A score of 0 represents perfect equality, while 100 denotes maximum inequality.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>India\u2019s Gini Index (2022-23) <\/b><span style=\"font-weight: 400;\">is<\/span> <span style=\"font-weight: 400;\">25.5. In comparison, <\/span><b>China:<\/b><span style=\"font-weight: 400;\"> 35.7, <\/span><b>United States:<\/b><span style=\"font-weight: 400;\"> 41.8, <\/span><b>G7\/G20 Averages:<\/b><span style=\"font-weight: 400;\"> Significantly higher than India<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India\u2019s placement within the \u201cmoderately low inequality\u201d category (Gini score of 25-30) positions it far ahead of many advanced economies and closer to the \u201clow inequality\u201d threshold.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Decline in Extreme Poverty as a Key Driver<\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A major contributor to India\u2019s improved income equality is the substantial decline in poverty rates. Based on the global poverty line of <\/span><b>USD 2.15\/day<\/b><span style=\"font-weight: 400;\">, India\u2019s extreme poverty rate dropped from 16.2% in 2011 to just 2.3% in 2022-23.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This progress has resulted in <\/span><b>171 million<\/b><span style=\"font-weight: 400;\"> Indians exiting the poverty trap in a decade, making it one of the most significant anti-poverty achievements globally in recent years.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Government Schemes and Inclusive Policy Interventions<\/span><\/h2>\n<ul>\n<li>The World Bank attributes this achievement not only to economic growth but to India\u2019s focused, inclusive welfare policies. <strong>Key initiatives include:<\/strong><\/li>\n<li><strong>Financial Inclusion and Direct Transfers<\/strong>\n<ul>\n<li><strong>PM Jan Dhan Yojana:<\/strong> Over <strong>55 crore bank accounts<\/strong> have expanded financial access, especially for rural and underbanked citizens.<\/li>\n<li><strong>Aadhaar-linked Direct Benefit Transfers (DBT):<\/strong> Enabled efficient and leak-proof delivery of government benefits, saving over \u20b93.48 lakh crore by March 2023.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Health and Social Security<\/strong>\n<ul>\n<li><strong>Ayushman Bharat:<\/strong> Offers \u20b95 lakh in health insurance, with over <strong>41 crore cards issued<\/strong> to date.<\/li>\n<li><strong>PMGKAY:<\/strong> Provided free food grains to over <strong>80 crore beneficiaries<\/strong>, contributing to food security and nutrition.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Livelihood and Entrepreneurship<\/strong>\n<ul>\n<li><strong>Stand-Up India:<\/strong> Supports SC\/ST and women entrepreneurs with loans and financial assistance.<\/li>\n<li><strong>PM Vishwakarma Yojana:<\/strong> Aims to uplift traditional artisans with training, credit, and market support.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Balancing Growth with Equity<\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India\u2019s journey reflects a rare convergence of <\/span><b>economic reform<\/b><span style=\"font-weight: 400;\"> with <\/span><b>social protection<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">According to the Social Welfare Department\u2019s statement, \u201cIndia\u2019s path to income equality has been steady and focused\u2026 The Gini Index of 25.5 reflects real change in people\u2019s lives, better access to food, jobs, healthcare, and banking.\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The country\u2019s progress in this domain is being seen as a model for developing economies that aim to pursue <\/span><b>growth with fairness<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Global Context and India\u2019s Distinct Approach<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India\u2019s achievement stands out among 167 countries surveyed. Other nations in the \u201cmoderately low inequality\u201d category include Scandinavian welfare states like <\/span><b>Norway<\/b><span style=\"font-weight: 400;\">, <\/span><b>Finland<\/b><span style=\"font-weight: 400;\">, and <\/span><b>Belgium<\/b><span style=\"font-weight: 400;\">, as well as rapidly growing economies like <\/span><b>Poland<\/b><span style=\"font-weight: 400;\"> and the <\/span><b>UAE<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">While many of these nations have relied on long-standing welfare systems, India\u2019s success has come through <\/span><b>digital inclusion<\/b><span style=\"font-weight: 400;\">, <\/span><b>targeted cash transfers<\/b><span style=\"font-weight: 400;\">, and <\/span><b>integrated rural support<\/b><span style=\"font-weight: 400;\">, making it a unique example of equity in a large, diverse democracy.<\/span><\/li>\n<\/ul>\n<p><b>Source:<\/b> <a href=\"https:\/\/www.thehindu.com\/news\/national\/india-becomes-fourth-most-equal-country-globally\/article69777979.ece#:~:text=%E2%80%9C...India&#039;s%20Gini%20Index,or%20individuals%20in%20a%20country.\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">TH<\/span><\/a><span style=\"font-weight: 400;\"> | <\/span><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/world-bank-india-ranks-4th-in-income-equality-ahead-of-us-and-china-171-million-lifted-out-of-extreme-poverty\/articleshowprint\/122268140.cms\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">TOI<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India ranks 4th in global income equality with a Gini Index of 25.5, as per World Bank, lifting 171 million people out of extreme poverty.<\/p>\n","protected":false},"author":21,"featured_media":53710,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[1357,60,22,59],"class_list":{"0":"post-53582","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"tag-global-income-equality","9":"tag-mains-articles","10":"tag-upsc-current-affairs","11":"tag-upsc-mains-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/53582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=53582"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/53582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/53710"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=53582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=53582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=53582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}