Unequal distribution of income and wealth has become the major cause of poverty in India .Explain in point s
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One half of India's income gets diverted towards the production and development of weapons
This is the cause of poverty in IndiaAs of Nov 2016, India is the second-most unequal country in the world. [1] The richest 1% of Indians own 58.4% of wealth. The richest 10 % of the Indians own 80.7 % of the wealth. This trend is going in the upward direction every year, which means the rich are getting richer at a much faster rate than the poor.[1]Inequality worsened since the establishment of income tax in 1922, overtaking the British Raj’s record of the share of the top 1% in national income, which was 20.7% in 1939–40.
This is the cause of poverty in IndiaAs of Nov 2016, India is the second-most unequal country in the world. [1] The richest 1% of Indians own 58.4% of wealth. The richest 10 % of the Indians own 80.7 % of the wealth. This trend is going in the upward direction every year, which means the rich are getting richer at a much faster rate than the poor.[1]Inequality worsened since the establishment of income tax in 1922, overtaking the British Raj’s record of the share of the top 1% in national income, which was 20.7% in 1939–40.
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unequal distribution of property leads to poverty because:
*If it is distributed unequally than the more literate people will get more poverty and the backward classes will get less and fall under poverty.
*Unequal distribution of land and other assets: Land and other forms of assets constitute sources of income for the ruralites. But, unfortunately, there has been unequal distribution of land and other assets in our economy.
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