Inequality in India

According to the report of the year 2022 of economic inequality, India is at the top of the world. This inequality is increasing day by day is a matter of great concern. And this is telling the result of weak policies of the government somewhere.

   We just get happy to knowing that Adani and Ambani of India are ahead in the list of the richest people in the world, but we are not even aware of the growing gap between the rich and the poor people of India. We only know the news and statistics that our media serves. We have no fault in this. The media should throw light on the underdeveloped or needing more attention area of ​​our country so that the focus of the government can come to it. I have already written about the responsibility of the media in earlier blog. 

Over the past few years, the quality of inequality data released by the government has seriously deteriorated, making it particularly difficult to assess recent inequality changes. We know that inequality is multidimensional: the income poor are more likely to live in poorer areas, to be women or girls, to belong to socially discriminated castes and communities, to be informal workers. More likely, therefore, to be unable to influence policy.

Learning from European Countries

Denmark, Finland, Iceland, Norway, and Sweden — are among the most equal in the world on a variety of criteria, it makes sense to look to them for guidance on how to create a more equal society.

These countries have attained high levels of welfare and equality. This is due to strong focus on social unity, taxation and higher spending on education and healthcare. Unlike most other nations, these countries offer free higher education to their citizens and have a creative education system. 

Few Steps may be help to reduce Inequality in Indi

1. Expenditure on healthcare, education, and social safety reduces inequality. For example, if a government invests in free and high-quality public services, poor people would not have to spend on them, allowing them to save money. It is also essential for the government to spend more on R&D and innovation.

2. Another way forward could be directly reducing income disparity by taxing the wealthiest more. These taxes, if used to fund public services, can further reduce inequality.

 
3. Providing tax benefits to companies that share more of the profits with their employees can also help in mitigating the disparity. 

4. Employees need to become partners in the company so that their sense of ownership towards the company increases as well as their income as well as their output.

5. Investing in agriculture, education and  women will certainly help to reducing income inequality in the country.

6. Increase the minimum wages.

7. Make the tax code more progressively.

Now let me end this blog on a history of Roman Empire.

The Roman Empire was one of the richest on the planet, with wealth concentrated in the hands of a few senatorial elite and the rest were utterly poor.

Warning signs of inequality were ignored and it resulted in civil war and the entire empire collapsed.

Do we want that again? Let us collectively work towards making an equitable world.