Answer to Question #254718 in Economics for Shreya

Question

It has been the prime endeavor for policy makers in India to eliminate / reduce the menace of inequality in income distribution. Plan documents and policy declarations of the state from time to time indicated various measures for reducing income inequality, but if we refer to the report on Global wealth released by credit Suisse in Nov 2016 - the share of the top 1 percent in the country’s wealth rose from 36.8 % in 2000 to as high as 58.4 % in 2016. The plight of the poor would be clear from the fact that the bottom half of the population owned a mere 2.1 % of the country’s wealth.’ In this reference critically evaluate the impact on income inequality on Indian Economy.

Answer 1

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