India has recorded its sharpest decline in inequality in the past five years, placing the country among those with the lowest levels of consumption inequality globally, according to the latest World Bank report.
The report puts India’s Gini index at 23.0, indicating a relatively low level of inequality in household consumption.
The figure places India ahead of several major economies, including China and the United States, as well as many G7 and G20 countries.
China’s Gini index stands at around 36, while the United States records approximately 42. Most G7 and G20 economies have scores ranging between 40 and 50, highlighting the difference in consumption inequality across major global economies.
The Gini index measures inequality on a scale where zero represents complete equality and 100 indicates maximum inequality.
A lower score reflects a more equal distribution of consumption or income, depending on the measure used.
India’s score of 23.0 highlights its position in the global comparison of consumption inequality.
The reported decline over the past five years also points to narrowing disparities in household consumption.
However, consumption inequality and income inequality measure different aspects of economic disparity.
The Gini figure cited in the report specifically reflects consumption distribution and should not be interpreted as a direct measure of income equality.
The findings provide an international comparison of consumption inequality and underline the differences between India and several advanced and emerging economies.
They also highlight India’s reported progress in reducing consumption disparities over the past five years.
Also Read: Pakistan Court’s 10-Year Sentence For Imaan Mazari, Husband Sparks Rights Concerns
To read more such news, download Bharat Express news apps
