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Economic inequality in India UPSC NOTE

 Debate Triggered by Congress Party's Election Manifesto (Nyay Patra):

  • The Nyay Patra initiated a discussion on inequality and the concentration of wealth.

  • Prime Minister's comments, though misleading, provoked a debate on wealth redistribution.

  • Inequality in India has been rising, evident from statistics such as the concentration of national income and wealth among the top 1%.

Welcome as an Election Issue:

  • The growing unfairness of wealth distribution, especially with the majority struggling for employment, makes addressing inequality crucial.

  • Traditional economic strategies, like trickle-down economics, have repeatedly failed to alleviate inequality.

  • The shift towards addressing inequality in election discourse is seen as a positive development, regardless of the election outcome.

Focus on Redistribution Measures:

  • Public discussion, particularly on social media, has primarily centered around direct redistribution measures, like taxing the rich and subsidizing the poor.

  • India's low tax-GDP ratio and regressive taxation structure underscore the need for progressive tax reforms.

Low Welfare Spending:

  • Welfare and social sector spending in India is notably low compared to other countries.

  • Despite targets set by policies like the National Health Policy, actual expenditures, especially in health, remain insufficient.

  • Key social welfare programs show declining budget allocations, necessitating increased revenue mobilization and spending on essential services.

Questioning the Nature of Growth:

  • Economic growth must be accompanied by job creation to be considered meaningful development.

  • Recent growth trends in India have been characterized by joblessness, stagnant wages, and rising profit shares.

  • Governments should prioritize equitable growth by investing in employment-generating sectors and public services.

Job Creation as a Priority:

  • Governments can directly create jobs by filling vacancies and expanding public services.

  • Improving the quality of jobs, particularly for frontline workers, is essential for enhancing human development and reducing gender disparities.

  • Employment-centered growth strategies should support small and medium enterprises, skill training, and policies to enable women's participation in the labor market.

Addressing Inequality through Employment:

  • An employment-centered approach is crucial for tackling inequality effectively.

  • Policies supporting inclusive growth and equitable distribution of resources are essential for sustainable development and reducing economic disparities.



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Economic inequality in India UPSC NOTE
Economic inequality in India UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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