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The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income). Meanwhile, an index of 1 or 100 implies perfect inequality (one person has all the income, and everyone else has no income).
According to the World Bank, the Gini coefficient in India was 0.339 in 2009, [17] down from previous values of 0.43 (1995–96) and 0.45 (2004–05). [18] However, in 2016, the International Monetary Fund, in its regional economic outlook for Asia and the Pacific, said that India's Gini coefficient rose from 0.45 (1990) to 0.51 (2013). [19]
The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
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Income in India discusses the financial state in India. With rising economic growth India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around ₹1,69,496 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country.
2–3 July – 2024 India-Bangladesh floods: At least sixteen people are killed by floods and landslides in Assam and Arunachal Pradesh, while over 300,000 more are displaced. [102] [103] 5 July – A victory parade is held in Mumbai by the Indian cricket team following their victory in the 2024 ICC Men's T20 World Cup. [104] [105]
Post-tax Gini coefficient: 0.39. Unemployment rate: 4.4%. GDP per capita: $53 632. Poverty rate: 11.1%. [43] Low unemployment rate and high GDP are signs of the health of the U.S. economy. But there is almost 18% of people living below the poverty line and the Gini coefficient is quite high. That ranks the United States 9th income inequal in ...