India ranks fourth 'most equal' country globally, according to World Bank report
A World Bank report indicates that India has significantly reduced inequality and extreme poverty between 2011-12 and 2022-23, making it the fourth most equal country globally. India's Gini Index stands at 25.5, placing it behind Slovakia, Slovenia, and Belarus. Extreme poverty in India dropped from 16.2% to 2.3% during this period. The report attributes this improvement to various initiatives and schemes aimed at reducing inequality and boosting economic inclusion.
Key Points
- India is ranked as the fourth most equal country globally by the World Bank.
- The country's Gini Index has improved significantly to 25.5.
- Extreme poverty has seen a sharp decline from 16.2% to 2.3% between 2011-12 and 2022-23.
- Government initiatives and schemes are credited for the reduction in inequality.
Exam Facts
- India's Gini Index: 25.5.
- Poverty reduction: 16.2% (2011-12) to 2.3% (2022-23).
- Comparison: China's Gini Index 35.7, United States 41.8.
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