Advertisement
Thursday, Oct 28, 2021
Outlook.com

Inequality Paradox

The trickle-down theory has limits. It helps the weaker sections, but enables the capitalists to gain the most.

Inequality Paradox
Photograph by Suresh K. Pandey
Inequality Paradox
outlookindia.com
2020-10-02T13:36:33+05:30

The inconsistencies seem absurd. In the midst of the country’s 30th year of reforms, the successes on the income parameters are visible. The number of poor declined substantially, which reflected in the country’s income hierarchy. In 1991, its shape was a standard pyramid with a broad base. The bulk of the population was poor, a lower percentage was middle class and a sliver was rich. Today, a bulge has appeared in the middle, the base has thinned and the top widened.

If one looks at the numbers, 60 per cent of the population, or 500 million, were considered poor in 1991. Today, the figure is less than a fifth, or not more than 250 million. Some studies, like the 2015 Brookings report, claim that the deprived class constitutes a mere 50 million. The middle class, although the figures are disputed, is on the march. India has more millionaires and billionaires. The Forbes real-time global list of the rich counts more than 100 Indian dollar-billionaires.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Aryan Khan Drugs Case: Who Is KP Gosavi? NCB's Absconding 'Witness' Detained In Pune

Aryan Khan Drugs Case: Who Is KP Gosavi? NCB's Absconding 'Witness' Detained In Pune

Gosavi, said to be a 'private investigator' whose selfies with actor Shah Rukh Khan's son Aryan Khan went viral after the NCB arrested him on October 2, had been on the run.

Explainer | Why India Celebrates Vigilance Awareness Week Every Year

Explainer | Why India Celebrates Vigilance Awareness Week Every Year

This year, the theme of the Vigilance Week celebrations is 'Independent India @ 75: Self Reliance with Integrity'.

IPL: Sourav Ganguly Steps Down As ATKMB Director

IPL: Sourav Ganguly Steps Down As ATKMB Director

ATK Mohun Bagan is owned by Sanjiv Goenka-led RPSG Group, which will now own an IPL team based out of Lucknow.

Aryan Khan Bail Petition Enters Day 3, Bombay HC To Hear Plea Today

Aryan Khan Bail Petition Enters Day 3, Bombay HC To Hear Plea Today

The Bombay High Court will hear the petitions of Aryan Khan, Arbaaz Merchant and Munmun Dhamecha on Thursday afternoon after 2.30 pm.

Advertisement