India ranks 4th globally in income equality, shows World Bank data

NEW DELHI: India ranks 4th globally successful income equality aft the Slovak Republic, Slovenia and Belarus, making it 1 of the astir adjacent societies, latest World Bank information has shown."According to the latest World Bank data, India's Gini Index stands astatine 25.5. This places India among the astir adjacent countries successful the satellite successful comparative terms. India's people is overmuch little than China's 35.7 and acold little than the United States, which stands astatine 41.8. It is besides much adjacent than each G7 and G20 country, galore of which are considered precocious economies," said a govt enactment citing information from the multilateral agency.It said that India falls into the "moderately low" inequality category, which includes Gini scores betwixt 25 and 30, and is lone a fraction distant from joining the "low inequality" group, which includes countries similar the Slovak Republic with a people of 24.1, Slovenia astatine 24.3, and Belarus astatine 24.4."Apart from these three, India has a amended people than each of the different 167 countries for which the World Bank has released data," said the enactment from the societal payment department.

Globally, conscionable 30 countries autumn into the "moderately low" inequality category. including respective European countries with beardown payment systems. These see Iceland, Norway, Finland, and Belgium. It besides includes increasing economies similar Poland and affluent nations similar the United Arab Emirates."India's travel towards a much adjacent nine is reflected successful its Gini Index implicit the years. The scale was measured astatine 28.8 successful 2011, and reached 25.5 successful 2022.

This dependable displacement shows that India has made accordant advancement successful combining economical maturation with societal equity," said the note.Stating that India's beardown lasting connected the Gini Index is not a coincidence, the enactment said it is intimately linked to the country's sustained occurrence successful reducing poorness crossed some agrarian and municipality regions..According to a World Bank report, 171 cardinal Indians person been lifted retired of utmost poorness implicit the past decade.

The stock of radical surviving connected little than 2.15 US dollars a day, which was the planetary threshold for utmost poorness till June 2025, fell sharply from 16.2% successful 2011-12 to conscionable 2.3% successful 2022-23. Under World Bank's revised utmost poorness threshold of $3.00 per day, the 2022-23 poorness complaint would beryllium adjusted to 5.3%.The Gini Index measures however arsenic income, wealthiness oregon depletion is distributed crossed households oregon individuals successful a country. It ranges successful worth from 0 to 100. A people of 0 means cleanable equality. A people of 100 means 1 idiosyncratic has each the income, wealthiness oregon depletion and others person none, hence implicit inequality. The higher the Gini Index the much unequal the country, the connection said detailing the ranking methodology.