'Inequality declining': Modi hails India's economic rise

Inequality is reducing rapidly in India as the country progresses, Prime Minister Narendra Modi said on Saturday, citing a recent World Bank report, and noted that the country is now counted among the most equitable nations.

- HT Correspondent

Speaking at the Rozgar Mela virtually, where over 51,000 appointment letters were distributed with the Indian Railways contributing the largest share of over 40,000 posts, Modi underlined India’s progress through the pillars of equality, democracy and demography.

“Inequality is reducing rapidly and we are progressing towards greater equality,” he said.

The World Bank Gini Report placed India below only the Slovak Republic, Slovenia and Belarus, categorising it as a “moderately low” unequal country. The Gini index is a measure of inequality, with a lower score indicating more equitable income distribution.

The report noted India outperformed major economies such as United States (41.8), China (35.7) and United Kingdom (34.4) in this metric.

He emphasised that the world is now acknowledging two of India’s strengths — “democracy and demography”.