• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

World Inequality report, 2022

December 8, 2021
in Economy
Reading Time: 3 mins read
0
World Inequality report, 2022
241
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In news– World Inequality Report (WIR), 2022 has been released recently.

About the report-

  • It presents the most up-to-date and complete data on the various facets of inequality worldwide as of 2021: global wealth, income, gender and ecological inequality.
  • The World Inequality Database aims to provide open and convenient access to the most extensive available database on the historical evolution of the world distribution of income and wealth, both within countries and between countries.
  • WID was initially created as the World Top Incomes Database (WTID) in January 2011 with the aim of providing convenient and free access to all the existing series.
  • In December 2015, the WTID was subsumed into the WID, The World Wealth and Income Database.
  • MENA (Middle East and North Africa) is the most unequal region in the world, Europe has the lowest inequality levels.
  • MENA consists of Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
  • Nations have become richer, but governments have become poor, when we take a look at the gap between the net wealth of governments and net wealth of the private and public sectors.
  • Wealth inequalities have increased at the very top of the distribution. 
  • The rise in private wealth has also been unequal within countries and at the world level. 
  • Global multimillionaires have captured a disproportionate share of global wealth growth over the past several decades: the top 1% took 38% of all additional wealth accumulated since the mid-1990s, whereas the bottom 50% captured just 2% of it.
  • Gender inequalities remain considerable at the global level, and progress within countries is too slow
  • Data shows that these inequalities are not just a rich vs. poor country issue, but rather a high emitters vs low emitters issue within all countries.

India’s performance-

  • It says that India is among the most unequal countries in the world, with rising poverty and an ‘affluent elite.’
  • It highlights that the top 10% and top 1% in India hold 57% and 22% of the total national income respectively while the bottom 50% share has gone down to 13%.
  • The average national income of the Indian adult population is Rs 2,04,200. 
  • Here, the bottom 50% earns Rs 53,610 while the top 10% earns Rs 11,66,520, over 20 times more. 
  • The report says that emerging economies like India and China experienced faster increases in private wealth than wealthy countries after they transitioned away from regulated economies. 
  • In India, particularly, private wealth went up from 290% in 1980 to 560% in 2020.
  • The report shows that the income inequality in India under the British colonial rule (1858-1947) was very high, with a top 10% income share around 50%. 
  • After independence, due to socialist-inspired five-year plans, this share was reduced to 35-40%.
  • The average household wealth in India is around Rs 9,83,010. 
  • In 2021, the wealthiest 10% of the population owned 65% of total household wealth in India.
  • The share of female labour income share in India is equal to 18% which is significantly lower than the average in Asia (21%, excluding China) & is among the lowest in the world.

 

image_pdfMake PDF
Source: Economic Times
Tags: News PaperPrelims

Related Posts

Startup Ranking 2021

Startup Ranking 2021

July 6, 2022
Goods and Services Tax (GST) Council

Goods and Services Tax (GST) Council

July 5, 2022
Windfall Tax

Windfall Tax

July 4, 2022
Financial Services Institutions Bureau (FSIB)

Financial Services Institutions Bureau (FSIB)

July 4, 2022
Ease of Doing Business (EoDB) Ranking for states

Ease of Doing Business (EoDB) Ranking for states

July 2, 2022
Pay Roll Automation for Disbursement of Monthly Allowances (PADMA)

Pay Roll Automation for Disbursement of Monthly Allowances (PADMA)

July 2, 2022
Computerisation of Primary Agricultural Credit Societies (PACS)

Computerisation of Primary Agricultural Credit Societies (PACS)

July 1, 2022
12th WTO Ministerial Conference

12th WTO Ministerial Conference

June 30, 2022
“National Highway Excellence Awards” 2021

“National Highway Excellence Awards” 2021

June 28, 2022
Global Liveability Index, 2022

Global Liveability Index, 2022

June 27, 2022
Please login to join discussion

Our Offline Classroom Student

PRELIMS 2021 POLITY QUESTIONS ANALYSED

https://youtu.be/5q8hBcRGhAs

PRELIMS 2021 HISTORY QUESTIONS ANALYSED

https://youtu.be/v0SIZ7SUybg

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

July 2022
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News Newspaper News Paper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News Newspaper News Paper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In