what were the inequalities that India has not achieved
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Answer:
India has an inequality problem. In 2020–21, India’s economy experienced the largest annual contraction (7.3%; NSO, MOSPI 2021) in the post-Independence period due to the health and economic fallouts of the Covid-19 crisis. Yet, the stock market has recovered from an initial dip and is up by 75% from a year ago. The total number of Indian billionaires rose to 140 last year from 102 and their combined wealth nearly doubled to $596 billion. India has the third largest number of billionaires in the world after the US and China. Yet, the number of poor in India is estimated to have increased by 75 million due to Covid-19, accounting for nearly 60% of the global increase in poverty.
After accounting for population and economic differences across countries, an earlier analysis showed that India does have more than its expected share of multimillionaires (Ghatak and Ray 2014). Additionally, India’s share of the world’s extreme poor is higher than its share of the world population. India accounts for 139 million of the total 689 million people (20.17%) living in extreme poverty in 2017 (World Bank 2020), with its population being 17.8% of the world population (World Bank 2019).