Income Inequality Trends in India 2023

Current Context: The report titled "Income Inequality Trends in India 2023" was released by the People Research on India’s Consumer Economy (PRICE) on January 6, 2025.

• Key Findings:
• Income Inequality: The Gini coefficient, a measure of income inequality, was recorded at 0.410 in 2023, up from 0.371 in 1955. This indicates a rise in income inequality over the decades.
• Top 10% Earners: The top 10% of earners controlled a significant portion of the national income, reflecting the concentration of wealth among a small segment of the population.
• Bottom 10% Earners: The bottom 10% of earners saw their share of national income decline, highlighting the disparities in income distribution.
• Social Welfare Schemes: While social welfare schemes have contributed to improving income distribution, challenges in equitable growth remain.

Question:

1 Which organization released the report "Income Inequality Trends in India 2023"?

• A) Reserve Bank of India
• B) Planning Commission of India
• C) National Council of Applied Economic Research (NCAER)
• D) People Research on India’s Consumer Economy (PRICE)

Answer: D) The report titled "Income Inequality Trends in India 2023" was released by the People Research on India’s Consumer Economy (PRICE) on January 6, 2025.