Lorenz Curve & Gini Coefficient: How These Tools Reveal India’s Economic Divide
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Income inequality in India has seen a notable decline in recent years, as evidenced by a reduction in the Gini coefficient from 0.472 in 2014-15 to 0.402 in 2022-23. This trend is attributed to increased income among lower-income groups and a rise in female labor force participation. However, disparities persist, particularly among self-employed workers, highlighting the complex nature of economic inequality in the country.
Introduction
- Brief Introduction to Economic Inequality
- Economic inequality refers to the disparities in income and wealth among individuals within a society. It encompasses various dimensions, including income inequality, wealth inequality, and consumption inequal
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