Why is there so much income inequality in India?
Income inequality is a growing problems in the streets of India that has been occurring for a very long time. I was very interested in this topic because it shows about the financial status of other countries in the world. India is one of the 10 richest countries in the world, however many Indians are poor. Currently, millionaires control 54% percent of India's wealth, making it the second most unequal country in the world.
In the 1990's India made many changes in order to boost their economy. These changes are the deregulation of the markets, lowering import tariffs and allowing some new foreign investment. Millions of Indians have been saved by market reforms but some say that the people aren't taking advantage of the economic advancement.
The market is another reason for income inequality in India. The market has cast away the millions of farmers and urban informal workers,
Questions about income inequality?
With the Indian economy so strongly reliant on the market, how will we be able to get all the uneducated agricultural workers more money?
How can we increase the investments in smaller agricultural farms?
How does gender or caste play in income inequality in India?
How can we fix income inequality?
Corporations and richer individuals can pay more to in taxes in order to send resources across the entire Indian society.
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Milanovic, Branko. "Income Inequality in India: How bad is it, and how does it affect global inequality?" The News Minute. Last modified May 15, 2016. Accessed November 29, 2016. http://www.thenewsminute.com/article/ income-inequality-india-how-bad-it-and-how-does-it-affect-global-inequality-43272
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