Income Inequality

Facts for Prelims (FFP)   Source: PIB  Context: According to a recent SBI Research report, income inequality in India has decreased, indicating a positive trend of upward mobility and the growth of the middle class.   What does the report say: The decrease in Gini Coefficient (a measure of income inequality) has decreased from 0.472 …

Oxfam inequality report: Taxing the ‘obscenely’ wealthy may not be the right solution

GS Paper 3 Syllabus: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment   Source: IE  Direction: The article highlights that instead of excessively taxing the wealthy, the need of the hour is to raise the income of all to reduce income inequalities.   Context: Evidence of “excessive” wealth concentration …