{"id":130275,"date":"2024-09-06T19:18:14","date_gmt":"2024-09-06T13:48:14","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=130275"},"modified":"2024-09-09T18:29:43","modified_gmt":"2024-09-09T12:59:43","slug":"challenge-of-rising-income-inequality","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/challenge-of-rising-income-inequality","title":{"rendered":"Challenge of Rising Income Inequality"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Recently, the <\/span><b>ILO\u2019s World Employment and Social Outlook study<\/b><span style=\"font-weight: 400;\"> (September 2024) links the global <\/span><b>decline in worker\u2019s income<\/b><span style=\"font-weight: 400;\"> share to technological changes, especially<\/span><b> automation and artificial intelligence (AI).<\/b><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>Crucial Insights on the ILO Study<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to the International Labour Organisation\u2019s (ILO), <\/span><b>tech innovations<\/b><span style=\"font-weight: 400;\"> have boosted labour productivity, output, but can also <\/span><b>reduce labour income share.<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Over the past two decades (2004-24), global labour income share has <\/span><b>dropped by 1.6%.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nearly, <\/span><b>40% of this decline<\/b><span style=\"font-weight: 400;\"> was in the pandemic <\/span><b>years of 2019-22.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The study highlights that, In 2024, <\/span><b>28.2% of young women worldwide<\/b><span style=\"font-weight: 400;\"> are not in employment, education or training, double that of young men (13.1%).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This gender disparity presents significant challenges for developing nations with large working age population, such as India, where <\/span><b>83% of its unemployed are youth.\u00a0<\/b><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"nofollow noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>State Of Income Inequality In India<\/strong><\/span><\/h2>\n<ul>\n<li><b>World Inequality Lab\u2019s (WIL\u2019s) Finding<\/b><span style=\"font-weight: 400;\">: According to the <\/span><b>World Inequality Lab\u2019s (WIL\u2019s<\/b><span style=\"font-weight: 400;\">) recent working study, <\/span><b>\u2018Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj\u2019:<\/b>\n<ul>\n<li><b>22.6% of India\u2019s national income <\/b><span style=\"font-weight: 400;\">in 2022-23 went to the <\/span><b>top 1%, <\/b><span style=\"font-weight: 400;\">the highest proportion in the last 100 years.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">For wealth inequality, the share of the top 1% in wealth was as high as <\/span><b>40.1% in 2022-23, <\/b><span style=\"font-weight: 400;\">also its highest level since 1961.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The share of wealth <\/span><b>among the top 10% <\/b><span style=\"font-weight: 400;\">increased from <\/span><b>45% in 1961 to 65% in 2022-23.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Conversely, the share of the<\/span><b> bottom 50% and middle 40%<\/b><span style=\"font-weight: 400;\"> in wealth has declined: The rich got richer and the poor got poorer.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Oxfam India\u2019s Report:<\/b><span style=\"font-weight: 400;\"> According to <\/span><b>Oxfam India\u2019s report (\u201cSurvival of the Richest: The India story\u201d):<\/b><span style=\"font-weight: 400;\">\u00a0<\/span>\n<ul>\n<li><b>Wealth Concentration: <\/b><span style=\"font-weight: 400;\">The combined wealth of<\/span><b> India\u2019s 100 richest has touched $660 billion (Rs 54.12 lakh crore)<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>Economic Inequality: <\/b><span style=\"font-weight: 400;\">It finds that<\/span><b> 5 percent of Indians<\/b><span style=\"font-weight: 400;\"> own more than <\/span><b>60 percent of the country\u2019s wealth<\/b><span style=\"font-weight: 400;\">. In comparison, the <\/span><b>bottom 50 percent <\/b><span style=\"font-weight: 400;\">of the population possess only <\/span><b>3 percent of the wealth.<\/b><\/li>\n<\/ul>\n<\/li>\n<li><b>World Inequality Lab<\/b> <b>Finding<\/b><span style=\"font-weight: 400;\">: In India, the share of the<\/span><b> top 1% in the national income <\/b><span style=\"font-weight: 400;\">is among the<\/span><b> highest in the world,<\/b><span style=\"font-weight: 400;\"> and that India is today <\/span><b>more unequal as a society<\/b><span style=\"font-weight: 400;\"> than it was under British rule.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SBI Research Report:<\/b><span style=\"font-weight: 400;\"> According to the <\/span><b>SBI Research Report, <\/b><span style=\"font-weight: 400;\">income <\/span><b>inequality has declined <\/b><span style=\"font-weight: 400;\">in recent years, supporting the <\/span><b>trend of upward migration<\/b><span style=\"font-weight: 400;\"> through increased income and the ascent of the Indian middle class.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Income Tax base is widening <\/b><span style=\"font-weight: 400;\">by the year and the number of persons filing <\/span><b>Income Tax Return <\/b><span style=\"font-weight: 400;\">increased to <\/span><b>74 million in Assessment Year 2022-23<\/b><span style=\"font-weight: 400;\"> from <\/span><b>70 million in AY 2021-22.\u00a0\u00a0<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For the Assessment Year 2023-24, a total of <\/span><b>82 million Income Tax Returns<\/b><span style=\"font-weight: 400;\"> have been filed till 31 December 2023.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>SBI Research<\/b><span style=\"font-weight: 400;\"> has calculated that <\/span><b>Gini Coefficient<\/b><span style=\"font-weight: 400;\"> has declined from 0.472 during <\/span><b>Assessment Year 2014-15 to 0.402 for AY 2022-23.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The share of <\/span><b>Top 2.5% tax payers<\/b><span style=\"font-weight: 400;\"> with income more than <\/span><b>Rs 10 crores has declined from 2.81% in 2013-14 to 2.28% in 2020-21. <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The share of <\/span><b>Top 1% tax payers<\/b><span style=\"font-weight: 400;\"> with income more than <\/span><b>Rs 100 crores<\/b><span style=\"font-weight: 400;\"> has fallen from <\/span><b>1.64%\u00a0 to 0.77% <\/b><span style=\"font-weight: 400;\">during the similar period.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-130276\" src=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/61-66db038277c77.webp\" alt=\"Rising Income Inequality\" width=\"650\" height=\"386\" srcset=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/61-66db038277c77.webp 947w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/61-66db038277c77-300x178.webp 300w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/61-66db038277c77-768x456.webp 768w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>About Income Inequality<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/challenge-of-rising-income-inequality\/\" target=\"_blank\" rel=\"noopener\">Income inequality<\/a> refers to the<\/span><b> unequal distribution of income<\/b><span style=\"font-weight: 400;\"> among individuals or groups within a society.\u00a0<\/span><\/p>\n<table style=\"width: 100.1%;\">\n<tbody>\n<tr>\n<th style=\"border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle; width: 100%;\">\n<h3><span style=\"font-size: 16pt; color: #000000;\"><strong>Gini Coefficient<\/strong><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Gini Coefficient is one of the most widely used measures of <\/span><b>income inequality.\u00a0\u00a0<\/b><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">The Gini Coefficient <\/span><b>score lies between 0 and 1<\/b><span style=\"font-weight: 400;\">, where <\/span><b>complete equality <\/b><span style=\"font-weight: 400;\">would result in a <\/span><b>Gini Coefficient of zero<\/b><span style=\"font-weight: 400;\"> and <\/span><b>complete inequality<\/b><span style=\"font-weight: 400;\"> would result in <\/span><b>1.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/span><\/li>\n<\/ul>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><span style=\"font-weight: 400;\">It indicates the extent to which <\/span><b>income is distributed unevenly<\/b><span style=\"font-weight: 400;\"> in a population. Income inequality can manifest between different <\/span><b>socioeconomic groups, regions, genders, or even ethnic groups.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li><b>Measuring Income Inequality:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Gini Coefficient<\/b><span style=\"font-weight: 400;\">: A common measure of income inequality that ranges from<\/span><b> 0 (perfect equality) to 1 (maximum inequality).<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Lorenz Curve:<\/b><span style=\"font-weight: 400;\"> Graphically represents<\/span><b> income distribution<\/b><span style=\"font-weight: 400;\">, showing the proportion of<\/span><b> total income earned by cumulative percentages of the population<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>Major Reasons Leading To Income Inequality In India<\/strong><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Education and Skills<\/b><span style=\"font-weight: 400;\">: Individuals with <\/span><b>higher education or specialized skills <\/b><span style=\"font-weight: 400;\">tend to earn more than those with<\/span><b> less education or fewer skills<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The <\/span><b>All India Survey of Higher Education (AISHE) <\/b><span style=\"font-weight: 400;\">showed in 2021-22, the overall <\/span><b>gross enrolment ratio (GER)<\/b><span style=\"font-weight: 400;\"> in higher education for the <\/span><b>age group 18-23 years was 28.4%,<\/b><span style=\"font-weight: 400;\"> but this varied significantly by <\/span><b>socioeconomic status<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Disparity in Access to Engineering Education:<\/b><span style=\"font-weight: 400;\"> 70% seats are in <\/span><b>higher-income states<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Technological Change: <\/b><span style=\"font-weight: 400;\">While technology can <\/span><b>create new job opportunities<\/b><span style=\"font-weight: 400;\"> and increase productivity, it also leads to<\/span><b> job displacement and widens the skills gap<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>High-skilled workers<\/b><span style=\"font-weight: 400;\"> often benefit from technological advancements, commanding higher wages and enjoying job security, while <\/span><b>low-skilled workers<\/b><span style=\"font-weight: 400;\"> face job losses or <\/span><b>wage stagnation.<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Globalization:<\/b><span style=\"font-weight: 400;\"> Globalization, by way of integrating <\/span><b>economies, culture, technology, and governance,<\/b><span style=\"font-weight: 400;\"> significantly affects income inequality.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Global economic integration may <\/span><b>favor skilled workers and capital owners,<\/b><span style=\"font-weight: 400;\"> increasing inequality.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Government Policies:<\/b><span style=\"font-weight: 400;\"> Taxation and social welfare policies can either <\/span><b>reduce or exacerbate income inequality.\u00a0<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">India\u2019s Union government barely captures <\/span><b>under 8% of the workforce in income tax<\/b><span style=\"font-weight: 400;\">; it does not have an inheritance tax and has abolished its wealth tax.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Historical Factors:<\/b><span style=\"font-weight: 400;\"> The <\/span><b>British and industrialists<\/b><span style=\"font-weight: 400;\"> developed only those regions that possessed rich potential for prosperous manufacturing and trading activities. <\/span><b>For example<\/b><span style=\"font-weight: 400;\">, Kolkata, Mumbai and Chennai.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Labor Market Structures: <\/b><span style=\"font-weight: 400;\">Decline of<\/span><b> labor unions, minimum wage laws, and bargaining power <\/b><span style=\"font-weight: 400;\">affect wage distribution.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Labour Force Disparity: <\/b><span style=\"font-weight: 400;\">In <\/span><b>northern and central states, <\/b><span style=\"font-weight: 400;\">the labour force participation rate and the percentage of workers with regular wage are<\/span><b> below the national average.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Unemployment in India stood at 8.1%<\/b><span style=\"font-weight: 400;\"> in February 2022, as per <\/span><b>Centre for Monitoring Indian Economy (CMIE) data.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><strong>Measures To Address The Issue Of\u00a0 Income Inequality In India<\/strong><\/span><\/h2>\n<ul>\n<li aria-level=\"1\"><b>Progressive Taxation: <\/b><span style=\"font-weight: 400;\">Implement tax policies that <\/span><b>redistribute wealth<\/b><span style=\"font-weight: 400;\"> from affluent individuals to marginalized communities.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Use tax revenues for public services such as <\/span><b>health, education, skill development, and environmental sustainability.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">Focus on facilitating <\/span><b>job creation and economic opportunities<\/b><span style=\"font-weight: 400;\"> for lower-income groups.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Education and Skill Development: <\/b><span style=\"font-weight: 400;\">Ensure access to quality education for all, focusing on <\/span><b>equal opportunities for marginalized communities<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Increase earning potential through continuous <\/span><b>upskilling and vocational training<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Fair Labor Laws: <\/b><span style=\"font-weight: 400;\">Enforce labor rights, including<\/span><b> safe working conditions and minimum wage regulations<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li><b>Eliminate child labor <\/b><span style=\"font-weight: 400;\">and ensure <\/span><b>protection against worker exploitation<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Strengthen <\/span><b>collective bargaining rights <\/b><span style=\"font-weight: 400;\">to ensure workers benefit from economic growth.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Investment in Infrastructure: <\/b><span style=\"font-weight: 400;\">Reduce <\/span><b>regional disparities<\/b><span style=\"font-weight: 400;\"> by investing in sustainable infrastructure development.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Ensure <\/span><b>inclusion and sustainability<\/b><span style=\"font-weight: 400;\"> in transportation and other critical public infrastructure.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Contribution of the Super Rich: <\/b><span style=\"font-weight: 400;\">Encourage billionaires and the wealthy to <\/span><b>donate their wealth for public welfare.<\/b>\n<ul>\n<li><b>For example<\/b><span style=\"font-weight: 400;\">, support initiatives like the &#8216;<\/span><b>Giving Pledge&#8217; <\/b><span style=\"font-weight: 400;\">launched by Bill Gates and Warren Buffet.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Introducing Special Inheritance Tax:<\/b><span style=\"font-weight: 400;\"> It applies only to the<\/span><b> super rich and large asset transfers.<\/b><span style=\"font-weight: 400;\"> This tax has been <\/span><b>proposed by several people<\/b><span style=\"font-weight: 400;\"> in the past in India.\u00a0 However, in India, there is currently <\/span><b>no tax on inheritance.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">In many advanced countries there is a <\/span><b>special inheritance tax (Japan 55%, South Korea 50%, France 45%, and the United States 40%) <\/b><span style=\"font-weight: 400;\">before transferring wealth to the next generation.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Following Gandhian Model of Development:<\/b><span style=\"font-weight: 400;\"> The Gandhian model of development with a focus on <\/span><b>decentralisation, local needs, local talent, local resources, local production <\/b><span style=\"font-weight: 400;\">make sense in a <\/span><b>hyper-connected world<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">India has <\/span><b>800 districts <\/b><span style=\"font-weight: 400;\">with unique climate, natural resources, capabilities and talent to build <\/span><b>800 production centres<\/b><span style=\"font-weight: 400;\"> for a variety of goods and services.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It also means <\/span><b>800 digital platforms<\/b><span style=\"font-weight: 400;\"> to network to <\/span><b>build supply chain, logistics, markets and distribution centres.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"nofollow noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>Conclusion<\/b><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There is a need for <\/span><b>locating the resources<\/b><span style=\"font-weight: 400;\"> needed to lift millions more out of p<\/span><b>overty and joblessness,<\/b><span style=\"font-weight: 400;\"> and to do this in ways that <\/span><b>encourage value addition <\/b><span style=\"font-weight: 400;\">through production and <\/span><b>efficiency, quality and consumptio<\/b><span style=\"font-weight: 400;\">n as well as <\/span><b>inclusion, sustainability, dignity and justice.<\/b><\/p>\n<table style=\"width: 99.9297%;\">\n<tbody>\n<tr>\n<td style=\"width: 137.824%; 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