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Income inequality in India refers to the unequal distribution of wealth and income among its citizens. According to the CIA World Factbook , the Gini coefficient of India, which is a measure of income distribution inequality, was 35.2 in 2011, ranking 95th out of 157. [ 2 ]
With rising economic growth and India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around Rs. 98,374 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country. In contrast, the gross national income at constant prices stood at over 128 trillion rupees. [2]
March 27, 2024 at 2:17 PM. ... the distribution of income in India was more equitable under British colonial rule than it is now, according to the group of economists who co-authored the study ...
Ministry of Consumer Affairs, Food and Public Distribution ₹ 223,323 4.633% Ministry of Home Affairs ₹ 219,643 4.556% Ministry of Rural Development ₹ 180,233 3.739% Ministry of Chemicals and Fertilisers ₹ 168,500 3.495% Ministry of Communications ₹ 137,294 2.848% Ministry of Agriculture and Farmers Welfare ₹ 132,470 2.748%
Lower middle income 48.2 2019 48.10 2021 Croatia: Southern Europe: High income 28.9 2021 28.92 2022 Haiti: Caribbean: Lower middle income 41.1 2012 41.10 2012 Hungary: Eastern Europe: High income 29.2 2021 29.32 2022 27.8 2021 Indonesia: South-eastern Asia: Upper middle income 36.1 2023 37.92 2022 India: Southern Asia
The standard of living in India varies from state to state. In 2021, extreme poverty was reduced to 0.8% [1] and India is no longer the nation with the largest population living in poverty. [2] There is significant income inequality within India, as it is simultaneously home to some of the world's richest people. [3]
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
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