Question

What is Income Inequality? Does it exist in India? Do you think it is

good for the development of our country? Express your opinion with

suitable reasons.​

Answer 1

Answer:

According to the World Bank, the Gini coefficient in India was 0.339 in 2009. The Gini coefficient in India went up from 0.43 (1995–96) to 0.45 (2004–05). According to the 2015 World Wealth Report, India had 198,000 high net worth individuals (annual income over $1 million) with a combined wealth of $785 billion.