Since India’s independence, the subject of poverty in India has remained a major concern. According to the common definition of poverty, when a person can no longer meet the required levels to maintain specified standard of living, they are considered poor .This becomes apparent after just a short amount of time spent in the country. For example, states such as Goa, Delhi and Punjab have relatively low poverty ratios whereas 38% of the population of Bihar and Orissa live below the poverty line, the figures are even worse for Calcutta and Maharashtra pushing nearly 50%.The poverty and situations that people are forced to live in coupled with the burning desire to survive have resulted in people doing some unimaginable things to stay alive .Some sources suggest that now almost 60% of the world poor now call India home. It is also the country with the highest rate of Malnutrition among children under the age of 36 months: a massive
Effects of income inequality The impact of economic inequality affects a large part of the population in different ways. The most obvious effects of wealth inequality are that it creates social classes. The first subdivision that we can draw is that population is split in two categories: the rich and the poor. There are a variety of economic effects caused by income inequality. Wealthy people have a higher income and consequently spend less of each marginal dollar, which caused the economic growth to slow.
This also increases income inequality because educated workers who can use technology get the high paid jobs, increasing the income differences creating more difference between the rich and the poor. This inequality relation is common in most parts of the world however, the case in Pakistan is worse because it is a poor country and there is income and education inequality even within the districts of Pakistan. Income inequality in Pakistan We can see this rise in income inequality with the help of Gini Coefficient, which measures how income is distributed in a country. The Gini coefficient ranges between 0 to 1, with 0 being the perfect distribution and 1 being the worst. Huzaima Bukkhari and Dr Ikramul Haq report that as specified by US State Report Pakistan's GINI Coefficient was 0.63 in 2006.
India has a rapid growing economy and a developing social, and they will soon become an economic powerhouse in the world. However, China is one of the most socially and economically advanced countries in the world. India lack multiple components that set them beneath China and the rest of the world. China leads them in all three of the statistics that follow: Poverty, GDP growth, and gender equality. Throughout history China has been more successful than India and it will remain this way, until India changes their ways.
Income inequality is one of the most serious problems of the twenty first century. The people who suffer the most from this issue are usually discriminated against because of their gender, ethnicity, disability or even race. This discrimination extends to many aspects of these people’s lives which include access to job opportunities, education, healthcare or even basic life necessities such as food. Moreover, income inequality is spread in both developed and developing countries which means the lack of resources is not the issue here. This makes sense since the world economy is still growing but we are still facing many worldwide issues such as poverty, environmental degradation, persistent unemployment, political instability, violence and conflict.
Different forms of inequality all affects the quality of social life around the world. Having knowledge of the issues that affect our society makes you more socially literate, if you will, and creates better understanding on how to change the world for the
India was a nation were inequality prevailed in every section of society. Even today you find such scenario in many sections. Gender inequality is one of them. In past history gender inequality was seen on a large scale. In many fields females were restricted; they were not allowed to enter.
Income difference among unequal societies is one of the major issues in today’s world and presently, this difference widens in fast rate. Indeed, money plays a key role in life of every individual, however it could negatively influence to aspects of human right. Inequalities in the distribution of wealth and income have increased gradually in United States over the last 40 years (Oishi et al. 2011, 1096). The general way of measuring income inequality is the Gini coefficient, which concludes the level of inequality in one number.
This paper will mainly focus on intra-national income inequality. There is no doubt that between the richest and the poorest countries the gap in average incomes has been widening. However, within developing countries, research has not been able to find any systematic relationship between economic growth and changes in income inequality. In fact, income inequality within developing countries largely appears to be stable over time. In high-income countries, there appears to have been increasing inequality
THE IMPACT OF DEMONETIZATION ON THE COMMON MAN G.E.B Jeevitha M.Kavitha D.Sharmila I B.com –C K.C.S.Kasi Nadar College of Arts & Science ABSTRACT: The Indian Economy is a $2 trillion worth one and considered as a growth engine of Asia. It is one of the economies that grew more than 7% in recent years. The industry as well as the services sector has been growing in phenomenon way in recent years, especially in service sector India has achieved a rare destination of Global Software Exporter. Despite of these achievements, India has been marred by corruption, execution deficiencies, lack of efficiency leaders and inefficient political system. Due to these flaws, a group of Indians representing less than 2-3%